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Pet Food News
on June 10, 2011

PetSmart reports growth in first quarter 2011 financial earnings

Company announced 6.8% increase in total sales over first quarter of 2010

PetSmart reported its financial results for the first quarter of 2011, announcing growth in total sales and net income over the first quarter of 2010.

The company reported a net income of US$71 million in the first quarter of 2011, compared to US$56 million in the first quarter of 2010. Total sales for the first quarter of 2011 increased by 6.8% to US$1.5 billion. Comparable store sales, or sales in stores open at least a year, grew by 5%, helped by 2.7% growth in comparable transactions, according to the company. Services sales, which are included in total sales, increased 9% to US$167 million.

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