Home Wealth  Money Profits Rise At PetSmart

Profits Rise At PetSmart

Posted: Nov. 18th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

PetSmart reported third quarter earnings after the close of trading late yesterday. Profits rose to $56.2 million, or $0.60 per share, from $45.6 million, or $0.38 per share, in last years third quarter. Revenue rose 8% to $1.5 billion, on a 6.1% increase in same-store sales. Results were slightly ahead of analyst estimates. PetSmart raised its full-year forecast to earnings of $2.50 to $2.54 per share, compared to a prior forecast of $2.46 to $2.52 per share. Analyst estimates fall within the new forecast, although the companys fourth quarter forecast for earnings of $0.85 to $0.89 per share is largely below expectations.

Rival PetCo is privately held, although PetSmart (nasdaq: PETM - news - people ) also competes heavily with discounters like Wal-Mart (nyse: WMT - news - people ) and Target (nyse: TGT - news - people ) .

Also late yesterday, Limited Brands (nyse: LTD - news - people ) posted third quarter earnings of $94.3 million, or $0.31 per share, compared to $61.3 million, or $0.18 per share, last year. Adjusted earnings of $0.25 per share were just ahead of analyst expectations. Net sales rose to $2.17 billion from $1.98 billion last year, meeting analyst forecasts, on 9% same-store sales growth across the companys brands. Limited Brands, parent to its namesake stores as well as Victorias Secret and Bath and Body Works, said it now expects full year earnings of $2.38 to $2.53 per share, up from a prior forecast of $2.35 to $2.50 per share. The new forecast falls short of analyst estimates on the low end.

Rival apparel retailer Abercrombie & Fitch (nyse: ANF - news - people ) posted results below analyst expectations yesterday.

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Write a Story/Review about this topic

Post a Comment

 
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
Enhancing the Sense of Place: Sharon Woods of Santa Fe's Woods Design Builders Talks of a Home's Soul
Christopher McKenney's Horror-Themed Photos Will Get You in the Halloween Spirit
Ghosts, Intruders, Clogged Pipes, Oh My!: Seek Thermal Helps You Find Them All
Caution: This Ice Bucket May Result in Excessive Wine Consumption
World's 50 Best Bars 2014 Announced: See Which Bars Cracked the Top 10
Tesla Officially Announces Improvement on Model S Sedan With New Dual Motor D
Chase Down the McLaren 650S GT3 in New Teaser Clip
Four Seasons Executive Chef Andrea Accordi Reaches for Another Michelin Star
David Beckham & Famous Friends Launch New Haig Club Single-Grain Scotch Whisky in Scotland
The AI Nixie Clock Will Look Perfect Next to Your Vintage Typewriter & Record Player
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE