Updated from 11:33 a.m. ESTShares of PetsMart ( PETM) were among the Nasdaq's losers Tuesday, falling 4.6% after the company trimmed fourth-quarter comparable-store sales and full-year earnings guidance. The pet-supplies company now expects full-year earnings of $1.16 to $1.17 a share, down from previous guidance of $1.19 to $1.20 a share. The forecast includes a pretax gain of $3.6 million from a legal settlement. PetsMart now expects comparable-store sales growth of 5% during the fourth quarter. Analysts surveyed by Thomson First Call had been expecting full-year earnings of $1.18 a share. "Like many retailers, we experienced a slower-than-expected holiday selling season, but results improved as the quarter progressed, and we are now back to normal levels of traffic and sales," the company said. PetsMart will post its fourth-quarter results on March 2. Shares traded down $1.53 to $31.71. Krispy Kreme ( KKD) rose 10.2% after the troubled doughnut maker announced the ouster of CEO Scott Livengood. Stephen Cooper, a turnaround adviser who currently acts as interim CEO of Enron, will replace Livengood. Steven Panagos has been named president and chief operating officer. Cooper is the chairman of Kroll Zolfo Cooper; Panagos serves as managing director. Krispy Kreme said that Livengood would become a consultant to the company on an interim basis. In addition to the management changes announced by the company, Krispy Kreme said that fourth-quarter results have been "adversely impacted by significant sales declines." For the eight weeks ending Dec. 26, 2004, systemwide average weekly sales declined 18% and company average sales declined 25%. The quarter, Krispy Kreme said, is also being hurt by costs associated with previously disclosed legal and regulatory matters. As a result, the company may post a loss during the fourth quarter. Analysts had been expecting the company to post a profit of 5 cents a share. Shares traded up 89 cents to $9.61.