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Stock Market & Financial Investment News

News Breaks
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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September 29, 2014
07:24 EDTWOOFStephens to hold an investor trip
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September 26, 2014
08:30 EDTPETMTractor Supply entering pet supply market with two store openings
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08:25 EDTPETMPetSmart has a new competitor in Tractor Supply, says BofA/Merrill
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September 22, 2014
06:11 EDTPETMPetSmart appoints Helen Wallace as Chief Accounting Officer
PetSmart appointed Helen Wallace as Chief Accounting Officer and principal accounting officer. Ms. Wallace is expected to assume her responsibilities on or about October 6. Prior to joining the company, Ms. Wallace served as Senior Vice President, Finance / Principal Accounting Officer of Designer Shoe Warehouse.

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