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PetSmart 2Q sales up 11.2%

BY CSA STAFF

PHOENIX, Ariz. PetSmart has reported net income of $37.2 million, or 30 cents per share, for the second fiscal quarter of 2008. That compares with net income of $47.1 million, or 35 cents per share, for the second fiscal quarter of 2007.

Net sales for the second quarter of 2008 increased 11.2% to $1.2 billion, compared to the second quarter of 2007. Comparable-store sales grew 4% in the second quarter, on top of 4% growth in the same period in 2007.

“PetSmart delivered on its plan for the first half, and we feel good about delivering on our targets for all of 2008,” said Chip Molloy, cfo. “We expect current macro trends to continue throughout the year, so we are focused on consistent and efficient execution, driving sales and taking great care of the customer. For the third fiscal quarter of 2008, we estimate comparable-store sales growth in the mid-single digits and earnings per share in the range of 25 cents to 29 cents.”

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Zale reports 2Q loss

BY CSA STAFF

DALLAS Zale Corp. reported a net loss from continuing operations for the fourth quarter of fiscal 2008 of $4.9 million, or 15 cents per share, compared to net earnings from continuing operations of $0.7 million, or 1 cent per diluted share, for the fourth quarter of fiscal 2007.

Revenues for the fourth quarter ended July 31 were $456 million compared to $430 million last year, an increase of 6.1%. Comparable store sales for the fourth quarter increased 6.1%.

For the full year ended July 31, 2009, the company expects diluted EPS in the range of $1.10 to $1.25. Comparable-store sales are expected to be in the range of negative 1% to flat.

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DSW posts 2Q sales, income growth

BY CSA STAFF

COLUMBUS, Ohio DSW announced net income of $11 million on net sales of $357.2 million for the second quarter ended Aug. 2, compared with net income of $6.5 million on net sales of $348.7 million for the second quarter ended Aug. 4, 2007. Same-store sales decreased 6.9% for the comparable period versus an increase of 5.9% last year.

Diluted earnings per share were 25 cents for the second quarter this year compared with 15 cents last year. The company said the year-over-year increase in second quarter earnings was attributed to merchandise margin rate.

For the fiscal year ending Jan. 31, 2009, the company reiterates its estimated annual same-store sales in the negative mid-single digits and annual earnings per diluted share in the range of 75 cents to 85 cents.

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