PetSmart stocks holding strong
Company boasts most recent quarter revenue of US$1.4 billion
PetSmart shares have jumped 31% thus far in 2010, according to TheStreet. The company has a solid track record of being recession-proof. Sales of pet products are on track to increase this year, with the potential for US$47.7 billion in 2010, especially with an increasing amount of premium and specialty petfood sales and more people owning pets.
PetSmart has a market value of US$3.5 billion, with revenue of US$1.4 billion in the most recent quarter, signaling a 6.2% increase.
PetMed Express declined 3% so far this year, likely because Americans are spending less on pet medications. But, as a low-cost business model, the company maintains good long-term appeal, and may rebound as Americans begin to spend more in this area.