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PetSmart Q4 profit up 31%; outlook disappoints
Phoenix -- PetSmart Inc. reported a 31% increase in its fiscal fourth-quarter profit, helped by an extra week of sales. But its forecast for this year disappointed investors.
The company earned $134 million for the quarter ended Feb. 3, up from $102 million in the year-ago period.
Revenue rose 15% to $1.88 billion from $1.64 billion, helped by an extra week of sales in the more recent quarter. Same-store sales rose 4.6%.
For the full year, PetSmart’s revenue rose 11% to $6.8 billion. -
GSI Commerce supports PetSmart’s omnichannel strategy
King Of Prussia, Pa. -- GSI Commerce, an eBay Inc. company, said it has extended its contract with PetSmart to support the retailer’s omnichannel strategy with webstore, fulfillment and customer service solutions. GSI has worked with PetSmart since 2007, and this contract will extend the relationship for three years.