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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. -
SAP survey: Mobile payments need to be targeted at retail
New York -- More than half (53%) of industry leaders believe that improving customers’ retail experience is essential to creating a successful mobile payments scheme, according to a recent survey by SAP.
The study, SAP’s third consecutive GSMA Mobile World Congress survey, found that the “secret sauce” for creating a better retail experience includes POS services such as near-field communication (28%), facilitating universal acceptance of mobile payments (25%) and location-based point-of-sale offerings (24%).