PetSmart Report Third Quarter EPS of $.38

PetSmart, Inc. PETM today reported earnings of $0.38 per share, up 23% compared to $0.31 per share in the third quarter of 2009. Net income totaled $45.6 million in the third quarter of 2010, compared to $38.1 million in the third quarter of 2009. Total sales for the third quarter of 2010 increased 7.2% to $1.4 billion. The increase in net sales was partially impacted by $3.1 million in favorable foreign currency fluctuations. Comparable store sales, or sales in stores open at least a year, grew 5.6% in the third quarter, benefiting from comparable transactions growth of 3.6%. Services sales, which are included in total sales, grew 8.5% to $148 million.