|By PR Newswire||
|August 21, 2014 09:10 AM EDT||
LONDON, August 21, 2014 /PRNewswire/ --
Investor-Edge.com has issued free earnings briefing and coverage on PetSmart Incorporation (NASDAQ: PETM). The company featured in the headlines on Tuesday, August 19, 2014 after declaring its second quarter 2014 results. For the reported quarter, the company's diluted earnings per share (EPS) increased $0.09 from the year ago quarter, and net sales improved to $1.73 billion, from $1.71 billion in the second quarter of 2013. Our free coverage report can be accessed at:
For Q2 2014, PetSmart Inc. reported diluted earnings of $0.98 per share, up from $0.89 per share in the second quarter of 2013. Analysts from Bloomberg had expected company to report earnings of $0.94 per share. The company's net income increased to $98.12 million, from $93.37 million in the prior year quarter, surpassing Bloomberg consensus estimate of $92.36 million. The company reported a gross profit of $515.12 million with gross profit margin of 29.8% in Q2 2014, compared with $515.22 million gross profit and 30.2% gross profit margin in the year ago quarter. However, PetSmart Inc.'s comparable store sales, or sales stores open at least one year, including online sales services sales, declined 0.5%, with comparable transactions falling by 2.6%. The free research on PETM can be downloaded as in PDF format at:
Commenting on the quarterly results, David Lenhardt, President and Chief Executive Officer of PetSmart Inc., stated in the press release that despite the tough conditions in the retail environment the company continues to deliver extraordinary value to its customers and achieve robust earnings and cash flows. Mr. Lenharth added that the company is focused on leveraging its competitive strengths, including superior customer focus and loyalty, and capitalizing on continued growth of the specialty channel. He also announced the planned acquisition of Pet360, an online retail resource for pet parents that connects them with information, products and advice needed to raise happy and healthy pets. He added that the move is intended to make PetSmart a leader in the online retail space. The company entered into a definitive agreement to acquire Pet360 for $130 million, with the possibility of additional performance-based payments amounting to $30 million by the end of 2016.
In its guidance for FY 2014, which excludes the impact of the Pet360 acquisition and benefits/costs associated with the cost improvement initiatives, the Phoenix, Arizona-based specialty retailer expects EPS in the range of $4.29-$4.39 and operating cash flow in range of $600 million - $625 million. Meanwhile, for Q3 2014, the company is anticipating a flat to slightly lower comparable store sales growth with EPS in the range of $0.93-$0.97. Sign up and read the free analyst's notes on PETM at:
A day after the earnings release, on Wednesday, August 20, 2014, the stock gained 1.18% to end the day at $70.52. Shares of PetSmart Inc. vacillated between $69.00 and $71.75 during the session. A total of 3.83 million shares were traded, which was above its three months average volume of 2.70 million shares. Over the previous three trading sessions and in the last one month, shares in PetSmart Inc. have gained of 2.95% and 2.16%, respectively. However, the stock has declined 3.07% from the beginning of 2014. The company's shares are trading above their 50-day and 200-day moving averages. Moreover, the stock's 200-day moving average of $67.05 is greater than its 50-day moving average of $65.66. PetSmart Inc.'s stock traded at a PE ratio of 16.87 and has a Relative Strength Index (RSI) of 61.25. Visit Investor-Edge and access the latest research on PETM at:
In the last one month, PetSmart Inc. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on PETM is available at:
At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.
5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Aug. 29, 2015 09:30 AM EDT Reads: 836
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Aug. 29, 2015 09:30 AM EDT Reads: 425
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Aug. 29, 2015 09:15 AM EDT Reads: 148
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Aug. 29, 2015 08:45 AM EDT Reads: 569
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
Aug. 29, 2015 08:45 AM EDT Reads: 164
Aug. 29, 2015 08:00 AM EDT Reads: 127
Aug. 29, 2015 07:45 AM EDT Reads: 549
Aug. 29, 2015 07:45 AM EDT Reads: 116
Aug. 29, 2015 06:00 AM EDT Reads: 370
Aug. 29, 2015 05:45 AM EDT Reads: 503
Aug. 29, 2015 05:30 AM EDT Reads: 341
Aug. 29, 2015 05:00 AM EDT Reads: 404
Aug. 29, 2015 03:00 AM EDT Reads: 473
Aug. 28, 2015 11:45 PM EDT Reads: 406
Aug. 28, 2015 09:00 PM EDT Reads: 302