On Aug. 15, PetSmart
- Revenues came in slightly ahead of expectations. EPS fell short of estimates on expenses to evaluate a merger the company did not pursue and updates to one of its distribution centers, which also lowered gross margins.
- Same-store sales increased by 4.9% during the quarter, and sales of services continued to grow at a rapid clip, with a 28% increase.
- A $250 million share repurchase plan was announced. If executed at today's prices, the plan would reduce the share count by more than 7%.
(Figures in thousands, except per-share data)
Income Statement Highlights
Avg. Est. |
Q2 2006 |
Q2 2005 |
Change |
|
---|---|---|---|---|
Sales |
$1,010,000 |
$1,020,609 |
$899,097 |
13.5% |
Net Profit |
-- |
$34,630 |
$35,745 |
(3.1%) |
EPS |
$0.28 |
$0.25 |
$0.24 |
4.2% |
Diluted Shares |
141,237 |
147,099 |
(4%) |
Get back to basics with a look at the income statement.
Margin Checkup
Q2 2006 |
Q2 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
29.87% |
31.33% |
(1.46) |
Operating Margin |
6.07% |
6.8% |
(0.73) |
Net Margin |
3.39% |
3.98% |
(0.59) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets |
Q2 2006 |
Q2 2005 |
Change |
---|---|---|---|
Cash + ST Invest. |
$390,466 |
$399,926 |
(2.4%) |
Accounts Rec. |
$24,172 |
$24,101 |
0.3% |
Inventory |
$415,645 |
$367,727 |
13% |
Liabilities |
Q2 2006 |
Q2 2005 |
Change |
---|---|---|---|
Accounts Payable |
$177,096 |
$174,845 |
1.3% |
Long-Term Debt |
$0 |
$0 |
N/A |
Learn the ways of the balance sheet.
Cash Flow Highlights
Not provided by company.
Find out why Fools always follow the money.
Related companies:
-
Petco
(NASDAQ:PETC) -
Wal-Mart
(NYSE:WMT) -
Target
(NYSE:TGT) -
PetMed
Express
(NASDAQ:PETS) -
Tractor Supply
(NASDAQ:TSCO) -
MWI Veterinary Supply
(NASDAQ:MWIV)
Related Foolishness:
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At the time of publication,Nathan Parmelee held shares of PetSmart but had no positions in any of the other companies mentioned. Fool rules are here.