PetSmart has released its second quarter fiscal year numbers.
Total company sales rose by 6.2% from the previous year to US$1.4 billion. Net income totaled US$48.4 million compared with US$39.0 million during the same period last year. The increase in net sales, however, was partially impacted by US$5.8 million in favorable foreign currency fluctuations, according to the company. Store sales and service sales both grew, as well, coming in at 4.6% and 7.2% higher than last year, respectively.
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.