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PetSmart, Inc., reported raising its earnings per share expectations for the full year from a range of $2.46 to $2.52 per share to a range of $2.50 to $2.54 per share. Its third quarter comp store sales are reported up 6.1 percent and the earnings per share climbed 32 percent over the year-ago period.

“For the full year, we expect comparable store sales growth on mid-single digits,” said Chip Molloy, senior vice president and chief financial officer. “For the fourth quarter of 2011, we are expecting comparable store sales growth in the low- to mid-single digit range.”


PetSmart reported an overall net income of $56.2 million on sales and $1.5 billion for its third quarter, which ended October 30, 2011. From the year-ago period, Petsmart’s net income was $45.6 million on sales of $1.4 billion. Its total sales for the third quarter increased 8 percent to $1.5 billion.


During the third quarter of 2011, PetSmart reported investing a total of $28 million in capital expenditures, distributed $16 million in dividends, repurchased $70 million of stock and ended the quarter with $333 million in cash and cash equivalents and no borrowings on its credit facility.


Employing approximately 48,000 associates, PetSmart, Inc., has more than 1,197 stores and over 185 in-store PetSmart(R) PetsHotel(R) dog and cat boarding facilities. Trading at PETM, through its in-store pet adoption partnership with PetSmart Charities(R), PetSmart has helped save the lives of more than 4.5 million pets.


Learn more by visiting PetSmart at, on Facebook at, or follow them on Twitter at @PetSmart

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