According to a report filed by Daily Finance, Petsmartas shown growth in the past four years, with future growth expected to grow at a 16 percent rate over the next five years.
“PetSmart purchased more than $700 million of its shares in the past three years, and shareholders have been rewarded: The stock price has increased an impressive 170% during this time,” according to Nicole Seghetti of The Motley Fool.
With 192 PetHotels at their stores nationwide, there are plans to increase that number in 2012. While shopping at PetSmart, customers are able to get supplies, have a dog vaccinated, purchase food and medicine, along with grooming and training offerings. In a previous post on PetPR, it was reported that Packaged Facts, which publishes market intelligence about consumer market topics, the shopper base for pet products continues to move into the more costly pet specialty channel, with discount stores and supermarkets seeing a decline in their pet product shopper base.
Seghetti reported that PetSmart’s strong same-store sales growth and cash conversion efficiency make the company on track for future growth and success.
By comparison, chain store Target, places pet supply sales into their “Food and Pet Supplies” sector. This segment reported 19 percent of Target’s sales in 2011, with pet supplies encompassing a small percentage of total sales. On May 6, 2012, Target introduced The Shops at Target retail partnership program. In the program is Polka Dog Bakery, a treat boutique for dogs, which represents one of the five U.S. specialty stores participating in Target’s limited time offering.
PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. The company employs approximately 50,000 associates and operates more than 1,232 pet stores in the United States, Canada and Puerto Rico, over 192 in-store PetSmart PetsHotel dog and cat boarding facilities and is a leading online provider of pet supplies and pet care information. More information may be found at www.petsmart.com.