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 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
johanson3 Electric Trike Hauls 660 Pounds of Customization and Options
"World's Fastest" Dutch-Built Sportster Galatea Up For World Superyacht Award
Fifth-Generation Napa Valley Vinter Discusses the Science, Alcohol Content & Outlook for 21st Century Wines
This $600M Private Jumbo Jet Is More Penthouse Than Plane
Wider Yachts Shows Off Plans for Spacious W125 at Miami Boat Show
Aston Martin Cruelly Teases Us With the Roar of Vulcan's Engines
Here's Why Everything You Thought You Knew About Thread Count is a Lie
Better Brush Up On Your Golf Skills Before Moving Into This $5.8M Hualālai Resort Home
Totally Customizable Mercedes Actually Looks Like a Private Jet Inside
The Southern Steak & Oyster Should Be On Your Dining List When Heading to Nashville
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE