PetSmart Q4 profit up 31%; outlook disappoints
Phoenix -- PetSmart Inc. reported a 31% increase in its fiscal fourth-quarter profit, helped by an extra week of sales. But its forecast for this year disappointed investors.
The company earned $134 million for the quarter ended Feb. 3, up from $102 million in the year-ago period.
Revenue rose 15% to $1.88 billion from $1.64 billion, helped by an extra week of sales in the more recent quarter. Same-store sales rose 4.6%.
For the full year, PetSmart’s revenue rose 11% to $6.8 billion.