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


(Continued)

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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.

 
Lawrence P. Molloy

Q4 of last year was 260.

Peter Benedict – Wachovia

260, great, thanks, Chip.

Lawrence P. Molloy

Sure.

Operator

Our final question comes from Mike Baker from Deutsche Bank, your question please?

Mike Baker – Deutsche Bank

Thanks. I just wanted to clarify, I don''t know, on the inflation. So when you talk about it being 690 basis points here, is that the positive impact to the total company comp or just to the food business?

Lawrence P. Molloy

Michael, this is Chip. After you got off I realized your question was a slightly different, that was total company. So as you think about it inflation for consumable was actually higher than that because that''s where most of the inflation''s been coming from.

Mike Baker – Deutsche Bank

I see, so in fact if you just wanted to do a simple analysis we could say if inflation was zero, in other words you would have comped down 1.5%.

Lawrence P. Molloy

That would be true.

Mike Baker – Deutsche Bank

Okay thanks.

Operator

And this concludes our Q&A session for today''s conference. At this time we''re out of time for any further questions. I''d like to turn it back to management for any closing remarks.


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