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PetSmart Earnings Rise 12%

|Includes: PetSmart, Inc (PETM)

Originally published at

PetSmart, Inc. (NASDAQ:PETM) announced its financial results for the third fiscal quarter 2013, reporting earnings that rose 12% over last year. Revenue improved 4% to $1.7B, which was in-line with analyst expectations. The company's gross margin improved slightly from 29.6% to 29.8%, while same-store sales improved 2.7%, beating the originally forecast 2.2% to 2.5% range. PetSmart reported solid earnings that grew from $82.3M and $0.75 per share a year ago to $92.2M and $0.88 per share. The company, which offers pet supplies and pet services, saw a marked increase in demand of service sales, which improved 5.2% to $184.2M. Store merchandise sales increased 3.9% to $1.5B. PetSmart tightened its annual guidance, raising the lower end of its guidance by $0.06 to a refined range between $3.94 and $3.98 per share.

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