New York -- PetSmart plans to open some 70 net new stores, including approximately 50 of its standard prototypes, 20 micro stores and three PetsHotels, this year.
News of the expansion comes in conjunction with the retailer’s fourth quarter results. Net income increased 14% to $132 million in the quarter, compared to $115 million in the year-ago period,
Net sales increased 2.9% to $1.8 billion. Same-store sales, including Internet sales, grew 1.2%.
Services sales, which are included in net sales, grew 2.6% to $186 million.