PetSmart announces preliminary fourth quarter results
Store sales see 2.6% increase
PetSmart Inc. announced an increase of 2.6% in store sales for the fourth quarter of 2014, with average ticket increasing 2% and comparable transactions increasing 0.6%
Based on preliminary results, PetSmart says it expects to meet or exceed previously issued guidance for the quarter of between $1.34 and $1.38 per share on a non-GAAP adjusted diluted earnings per share basis.
As announced on December 14, 2014, the company entered into a definitive agreement to be acquired by a consortium led by BC Partners Inc. at a price of $83 per share in cash. The special meeting of shareholders to consider and vote on the transaction will be held March 6, 2015.
The company announced it will release its results for the fourth quarter and fiscal year 2014 before market open on Wednesday, March 4, 2015.