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PetSmart’s Q4 earnings up 20%
Phoenix -- PetSmart's fourth-quarter net income rose 20%, helped by more customer transactions and a strong holiday season.
The chain's net income rose to $90.3 million from $75 million in the same period last year. Revenue rose 8% to $1.52 billion. Same-store sales were up 6.3 %.
For the year, net income increased 21% to $239.9 million. Revenue rose 6% to $5.04 billion. -
A&P boosts merchandising, marketing team
MONTVALE, N.J. — Bankrupt grocer A&P, which just revealed plans to shutter 32 stores in six states, has bolstered its merchandising and marketing team with the appointment of six new executives.
A&P filed for bankruptcy in December 2010 and is in the midst of a turnaround aimed at reducing structural operating costs and enhancing value for shoppers. On Feb. 15, the company announced it is seeking court approval to close 32 stores by the end of the company's fiscal first quarter.
The new executives are: