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Market Update : 
PetSmart Q3 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 8:49 PM ET December 06 2008


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PetSmart third quarter revenues increased 12.1% to $1.3 billion, and net profit rose to $35.8 million or 28 cents a share compared to $29.5 million or 23 cents a share. The company guided fourth quarter earnings per share between 59 cents to 62 cents.

 
Philip L. Francis

While Chip looks that up if you''ve got another, I mean that’s a fairly specific question there that we didn’t have at our fingertips. If you’ve got another question while Chip looks that up we’ll come back to it.

Michael Baker – Deutsche Bank North America

Sure okay last one then, accounts payable to inventory was down again this quarter. It’s been down I think two or three quarters in a row by about 5%. Why is that down and then should we consider that to continue to be down?

Philip L. Francis

Staff here just sayings its timing differences.

Michael Baker – Deutsche Bank North America

Three quarters in a row it’s been timing differences?

[Philip L. Francis

Could be sure.

Michael Baker – Deutsche Bank North America

Okay, does that catch up then at some point?

Philip L. Francis

Yes.

Michael Baker – Deutsche Bank North America

Okay.

Lawrence P. Molloy

So Michael, give me, you talked about 10% to 12%...

Michael Baker – Deutsche Bank North America

It’s the comp in consumables seems to be higher than the seven or the 690 basis point inflation I think. So what’s the rest of the comp consumable? I guess I would assume its unit growth in consumables?


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