Phoenix – PetSmart Inc. has issued guidance for fiscal year 2013 for total sales growth of 3%-4%, as well as same-store sales growth of 3%-4%, compared to the prior fiscal year. PetSmart also slightly downgraded previous same-store sales guidance for the third quarter of fiscal 2013 to 2.2%-2.5%, from previously issued guidance of 3%-4%.
“In light of our 2013 Analyst Day, we wanted to provide an update on our expected results for the third quarter and full year,” said David Lenhardt, CEO of PetSmart. “We are pleased to be able to reaffirm our annual guidance for 2013, along with our third quarter 2013 guidance for most of our key metrics, including EPS and EBT margin expansion. While we are still in the quarter, we now expect comparable same store sales growth in the range of 2.2% to 2.5%, as a result of a challenged consumer environment and lower customer traffic. Our reaffirmation of third quarter EPS guidance and all full year 2013 guidance metrics reflects our solid execution and the strength and the stability of our business.”
PetSmart will release full third quarter results on Nov. 22.