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
Need to Get Away?
Top 10 Business Hotels
Who says you can’t mix business with pleasure?
Read More
More Articles from Forbes.com

Quick Links
Real Estate
Luxury Travel
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
Current News & Features
Dined at the Best Michelin Starred Restaurants in Asia Yet?
A Passion For Wine, Redefined
Olympic Star Torah Bright Drives Hard With Porsche
Get An Inside Look At Bang & Olufsen's Design Process
Understanding the History & Profiles of Southwest France Wines
Singapore Luxury Real Estate: Back to a Buyer's Market
Sail The Seven Seas With Ease In The Oyster 625 Bandido
The Montblanc Meisterstück Is On Point
The Winning Wines of the 2015 En Primeur Campaign
Say Hello To The iPad Pro
See the complete list
Featured Photo Gallery
See the complete list