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PetSmart Reaffirms Annual Guidance For Full Year 2013

PetSmart, Inc. (NASDAQ: PETM), the leader in pet specialty retail, today announced, in connection with its 2013 Analyst Day to be held at 11:00 a.m. Eastern Time, that it is reaffirming its full year 2013 annual guidance for the following results:
  • Total sales growth in the range of 3 to 4 percent.
  • Earnings per share in the range of $3.88 to $3.98.
  • Earnings before tax margin expansion of 20 to 40 basis points.
  • Comparable store sales growth in the range of 3 to 4 percent.

Third Quarter 2013 Guidance

The Company today also provided an update on its guidance for the third quarter of 2013. For the third quarter, PetSmart continues to expect the following:
  • Earnings per share in the range of $0.83 to $0.87.
  • Earnings before tax margin expansion of 30 to 40 basis points.

For the third quarter of 2013, PetSmart now expects:
  • Comparable store sales growth to be in the range of 2.2 to 2.5 percent, compared with its previous guidance of 3 to 4 percent.

“In light of our 2013 Analyst Day, we wanted to provide an update on our expected results for the third quarter and full year,” said David Lenhardt, Chief Executive Officer. “We are pleased to be able to reaffirm our annual guidance for 2013, along with our third quarter 2013 guidance for most of our key metrics, including EPS and EBT margin expansion. While we are still in the quarter, we now expect comparable same store sales growth in the range of 2.2 to 2.5 percent, as a result of a challenged consumer environment and lower customer traffic. Our reaffirmation of third quarter EPS guidance and all full year 2013 guidance metrics reflects our solid execution and the strength and the stability of our business.”

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