PetSmart quarterly earnings up 32%

Phoenix PetSmart reported on Thursday net income of $48.4 million in second quarter 2010, compared with $39 million in second quarter 2009.

Total sales for second quarter 2010 increased 6.2% to $1.4 billion. The increase in net sales was partially impacted by $5.8 million in favorable foreign currency fluctuations.

Same-store sales grew 4.6% in the second quarter. Services sales, which are included in total sales, grew 7.2% to $165 million.

“We are pleased to report that in the second quarter, we continued to execute on our strategic priorities, and delivered another quarter of consistent, quality earnings growth,” said Bob Moran, CEO and president.

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