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August 20, 2014
07:34 EDTPETMPetSmart news positive overall, says Stifel
After PetSmart announced higher than expected EPS, said that it would acquire the website Pet 360 and said it would pursue strategic alternatives, Stifel is upbeat on the Pet360 deal. The firm thinks the acquisition was a meaningful step by PetSmart to improve its lagging ecommerce offerings. But the firm thinks the company's EPS beat was mainly driven by cost cutting and it views the retailer's guidance negatively. Stifel keeps a Hold rating on the shares.
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