PHOENIX, AZ, Oct 15, 2009 (MARKETWIRE via COMTEX) -- PetSmart, Inc. (NASDAQ: PETM) will discuss its strategic priorities,
long-term opportunities and key financial strengths at its analyst
and investor presentation today, which is available through a
webcast.
Today, PetSmart is raising third quarter EPS guidance to $0.25 to
$0.29 and full year guidance to $1.43 to $1.51.
"Although challenges still exist in the macro economy, we continue to
strengthen our position as the leader in the pet industry," said Bob
Moran, President and Chief Executive Officer. "We are executing our
strategies well and we remain cautiously optimistic about the near
term."
"We still expect comparable store sales to be essentially flat for
the third quarter," said Chip Molloy, Senior Vice President and Chief
Financial Officer. "Our better than anticipated earnings performance
is due to slightly better than expected product margin rates combined
with lower than expected expenses. We continue to strengthen our
financial position and expect to generate a low double digit free
cash flow yield for the year."
PetSmart 2009 Analyst Day
11:00 a.m. - 1:00 p.m. Eastern Daylight Time on Thursday, October 15,
2009
Visit PetSmart Investor Relations website at www.petm.com, under
'Events,' and click
on PetSmart 2009 Analyst Day Webcast to be taken
to our webcast.
Listen live online by following the directions above. A replay will
also be available
online shortly following the event. To access the
replay, visit www.Petm.com,
under 'Events,' and click on PetSmart
2009 Analyst Day Webcast to be taken
to our webcast replay.
Forward-looking statements
This news release contains forward-looking statements concerning our
expectations for future performance, including the statements
comprising our 2009 guidance. These "forward-looking statements" are
based on currently available information, operating plans and
projections about future events and trends. They inherently involve
risks and uncertainties that could cause actual results to differ
materially from those predicted in such forward-looking statements.
Such risks and uncertainties include, but are not limited to: changes
in general economic conditions; conditions affecting customer
transactions and average ticket including, but not limited to,
weather conditions or other seasonal events; our ability to compete
effectively; disruption of our supply chain; our ability to
effectively manage our growth and operations; changes in our cost
structure; and changes in the legal or regulatory environment. Undue
reliance should not be placed on such forward-looking statements as
they speak only as of the date hereof, and we undertake no obligation
to update these statements to reflect subsequent events or
circumstances except as may be required by law. For additional
information on these and other factors that arise when investing in
PetSmart, please see our filings with the Securities and Exchange
Commission, including our most recent annual report on Form 10-K and
subsequent reports on Forms 10-Q and 8-K.
About PetSmart
PetSmart, Inc. is the largest specialty pet retailer of services and
solutions for the lifetime needs of pets. The company operates more
than 1,145 pet stores in the United States and Canada, 156 in-store
PetSmart PetsHotel(R) cat and dog boarding facilities, and is a
leading online provider of pet supplies and pet care information
(www.petsmart.com). PetSmart provides a broad range of competitively
priced pet food and pet products; and offers complete pet training,
pet grooming, pet boarding, Doggie Day Camp(SM) pet day care services
and pet adoption services. Since 1994, PetSmart Charities, Inc., an
independent 501(c)(3) non-profit animal welfare organization, has
funded more than $87 million in grants and programs benefiting animal
welfare organizations and, through its in-store pet adoption
programs, has helped save the lives of more than 3.6 million pets.
Follow PetSmart on Twitter www.twitter.com/PetSmartTLC
Find PetSmart on Facebook www.facebook.com/PetSmart
CONTACT:
Jessica Case
PetSmart Investor Relations
(623) 587-2025
Investorrelations@ssg.petsmart.com
www.petm.com
SOURCE: PetSmart, Inc.
mailto:Investorrelations@ssg.petsmart.com
http://www.petm.com
