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May 21, 2014
11:36 EDTPETM, WOOFPetSmart hits 52-week low after profit outlook trails expectations
Shares of pet products and services supplier PetSmart (PETM) are sinking after the company reported mixed first quarter results and issued weaker than expected profit outlooks for the second quarter and fiscal 2014. WHAT'S NEW: This morning, PetSmart reported Q1 earnings per share of $1.04 and revenue of $1.7B, compared to expectations of $1.01 and $1.77B, respectively. Q1 same store sales decreased 0.6%, with comparable transactions down 2.2%. The company forecast Q2 EPS of 92c-96c, trailing the consensus of $1.00. Q2 SSS are seen to be flat to slightly down. For FY14, PetSmart forecast EPS of $4.29-$4.39, compared to consensus of $4.45. It sees FY14 net sales growth in the low single digits, versus consensus $7.25B. FY14 SSS are expected to be relatively flat. PRICE ACTION: In late morning trading, PetSmart fell $4.89, or about 7.9%, to $57.30 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a new 52-week low of $56.77. Including today's pull back, the stock is down about 18% over the past twelve months. OTHERS TO WATCH: Other companies in the pet supply space include privately owned PETCO Animal Supplies and VCA Antech (WOOF), which provides veterinary services and diagnostic testing to support veterinary caregivers.
News For PETM;WOOF From The Last 14 Days
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October 23, 2014
16:03 EDTWOOFVCA Inc. now sees Q4 adjusted EPS ex-amortization 35c-37c, consensus 36c
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16:02 EDTWOOFVCA Inc. reports Q3 adjusted ex-amortization EPS 56c, consensus 52c
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06:16 EDTPETMPetSmart attracts interest from KKR, NY Post reports
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