PetSmart expects FY13 sales growth of 3%-4%
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.
Pro-Sent Mobile releases new chat app for fashion & style
Fremont, Calif. – ProSent Mobile is unveiling StyleChat, the company’s new visual-chat mobile app for fashion and style. StyleChat enables consumers to come together from anywhere to find fashion items, including online, in-store, or an existing closet, create looks on the digital style board, style collections, and visually chat with friends.
Friends can collaborate by adding items from their style board to complete looks. In addition, a shopper can snap pictures of items or mirror pics wearing different outfits, then compare the looks side by side and chat with friends for instant feedback. The items are automatically stored in the shopper’s Wish List Collection with a geo tag indicating the store name and address for reference. The app uses augmented reality, computer vision, image processing and geo tagging technologies.
DSW shareholders approve split
Columbus, Ohio – On Oct. 14, 2013, shareholders of DSW Inc. approved a two-for-one stock split of DSW’s common shares, along with approving an increase in the number of Class A common shares authorized for issuance. The company plans to effect the stock split on Nov. 2, 2013, by filing an amendment to its articles of incorporation.
Each shareholder of record on the effective date will receive one additional Class A common share for each Class A and Class B common share then held, without any further action on the part of DSW’s shareholders. Shareholders do not need to exchange existing share certificates and will receive additional shares as a result of the stock split on Nov. 4, 2013.
Upon completion of the stock split, DSW will have approximately 90.4 million common shares outstanding, comprised of approximately 82.5 million Class A common shares and 7.9 million Class B common shares. The company will report its third quarter results and its prior year’s results on a split-adjusted basis.