Transaction total is prior to taxes & after discounts are applied. Add'l terms apply. Contact Us | PetSmart Actually quantifying the ticket growth, I think you've given that in the past few quarters. Second question, the services breakout, you talked about 6.9% growth. PetSmart's Quarterly Sales Climb 7.5% as Retailer Bets on Private We are in the early stages of this transformation, and we'll be sure to update you as the year progresses. While Chip looks up some of these, of the five tiers with grocery being the bottom tier and the Rx Food, which is actually a prescription medicine contained in food, being the fifth tier, the top two growers by quite a margin were Tiers 4 and 5, and the bottom grower was Tier 1. Terms and conditions of this offer are subject to change at the sole discretion of PetSmart. We removed non-customer facing tasks from our stores and drove efficiencies in our supply chain. Phil will kick off the call with an overview of our fourth quarter and full year results, then Chip will take you through the financial review of the quarter and the year, as well as our earnings guidance for next year, and Bob will provide a review of the operations of the business and provide insight into our upcoming year. Compelling product offerings as well as better in-store execution contributed to increased customer satisfaction throughout the store. Prices & selection may vary. We feel that our performance for the quarter and fiscal year is a great indication of the strength of our total lifetime care promise. That would imply new store productivity that's quite high. By slowing our store growth in 2009, we believe greater emphasis can be placed on our current store base. It would have been material between January and December. Any sense for how that may have impacted either comps or comp margin dollars in terms of the shift from '09 into '08? Need other pet supplies while youre here? Hard goods was 36.5% compared to last year's 38.9%. So with the focus of gross margin dollars, we're really looking at a positive impact and obviously trying to make that accretive to the bottom line. Your next question comes from Brian Nagel - UBS. I don't think you're going to see a material effect in '09; however, I think the impact is in '10 and '11 and it'll have a positive increase. Profit from the additional features of your individual account. Chip, is that also contributing to the lower gross margin forecast in '09, that the incremental benefits from the forward purchases would be less meaningful? We're also very healthy financially. Orders must be placed three hours prior to store closing for same day pickup. When we do a new store, even in our reduced count of 40, if that's a hotel site where the sales projection passes our ROI and return hurdles, while we're doing new store sites, though the total number of new stores is reduced, if it calls for a hotel we're doing a hotel now because should we not do it when we do the store we lose the chance forever. Prescriptions from a licensed veterinarian are required to purchase specified medication from The Pharmacy at PetSmart. Our guidance for the year currently does not assume any share repurchases or changes in our dividend practice of $0.03 per share per quarter. So pretty similar, I think, in terms of the increase in consumables versus previous quarters. We also believe we have a better understanding of how we can acquire new customers. Void outside the Eligibility Area and where prohibited by law. No, it's the midyear convention. And comp stores sales for the year totaled 3.8%. You mentioned forward buys. Thanks very much. PetSmart has all the pet services you need from Grooming, Training, PetsHotel, Doggie Day Camp and Banfield to keep your pet looking and feeling great! Currently, you are using a shared account. operating income for the quarter was 10.5% of sales, a 65 basis point improvement when compared to 9.8% for the same period last year. Comparable store sales grew 3%, while earnings per share totaled $0.62 versus $0.59 in the fourth quarter of 2007. Long term I think the opportunity is still as great as it always was. PetSmart is a leading omnichannel pet retailer in North America, providing an extensive range of pet products and services across more than 1,660 stores in the United States, Canada, and Puerto Rico . Chewy Announces Fiscal Fourth Quarter and Full Year 2021 Financial Results We'll start to get those benefits on the back half of the year as we really start to monetize that slowing of the growth. Can I get pet meds without a prescription? Banfield helps complete the overall customer experience as we can provide pet parent services and solutions under one roof. Please turn it on so that you can experience the full capabilities of this site. For Official Rules, visit https://m.cmpgn.page/tcl5pS. We knew this would create excitement in our stores, so we focused on speed to market and had these available for our customers in less than three weeks. The 10-second takeaway For the quarter ended May 5 (Q1), PetSmart met expectations on revenues and. Supervisors Step up! Holders of the Notes, prospective purchasers, security analysts and market makers must contact the Company to pre-register and certify eligibility in order to access the financial results and dial-in information for the conference call. Your next question comes from David Mann - Johnson Rice & Company. Do you still believe net-net long term there's as great an opportunity today as there was back then? The January traffic was better than we had anticipated coming out of December and the mix was a little better as well. Offer not valid on services, gift cards, gift certificates, previous purchases, charitable donations, and may exclude all or select items from various brands. Bob Moran - Chairman & Chief Executive Officer David Lenhardt - President & Chief Operating Officer Check your local store for details & current store hours. One, we are not expecting negative comps in the back half of the year. PetSmart.com. Fourth Quarter Highlights. . Under the umbrella of total lifetime care for every pet, we expect to widen the differentiation between ourselves and our competitors. Bob talked about the trend of business throughout the quarter. I guess I'm guilty of being one of the ones that are wrapped up on inflation. Your next question comes from Matthew Fassler - Goldman Sachs. statistic alerts) please log in with your personal account. Accessed July 24, 2023. https://www.statista.com/statistics/315252/petsmart-net-sales/, IBISWorld. The source adds the following information: "Estimated data; year-end January 31." I guess that was 13 weeks versus 14 weeks, so do you have an adjusted number or would we just add essentially 5% or 6% to that to get to a 13% versus 13% or 14% versus 14%, however you want to look at it. There will be an effect in '09, but it's not material at this point in time. A couple hundred basis points are forward buys, but why we do it is in the time environment where we are, we're being offered some discounts that help gross margin if we go ahead and do that. We ended the year with average inventory per store of $525,000, up 5.6% from the end of last year, driven both from inflation and decisions to make select forward buys that provided economic benefits. Our focus on cost reductions helped us mitigate a large portion of the merchandise margin degradation caused by some of the weakness in sales of our higher-margin discretionary products. We think that you're going to get to a place where it's no longer going to negative comp strictly from an anniversarying perspective. This vision impacts everything we do for our customers, the way we support our associates and how we give back to our communities. Join our loyalty program & earn points every time you shop! The second question I have, so the forward buys were benefiting gross margin rate. PetSmart Rewards: Literally Everything You Need to Know - RetailMeNot Thanks, Phil. On the back half I'm even anticipating that we'll be accretive on gross margin for rent and occ. Valid only on orders shipped within the contiguous 48 U.S. states, military APO/FPO addresses and select areas throughout Canada. Save $10 off your first purchase of $50 or more in Pharmacy. What we've given in the past has actually quantified inflation, but we're not quantifying inflation this quarter and just giving you a range of it. While delivery is contact-free, be sure to be home during your delivery window to bring any perishable items inside right away. (Operator Instructions). Limited to one time per customer during the offer period. On that issue, can you talk a little more - either you or Bob - about some of these instore promotions that you've been doing and how much more can you be doing over the course of this year? At PetSmart, we love pets, and we believe pets make us better people. When is the next dollar per gallon sale? I can't find - Reddit Statista. Delivery may be delayed due to acts beyond our reasonable control, which may include, but are not limited to, weather, strikes, power outages, shutdowns, local, provincial or federal governmental actions, and other similar acts. In some categories we find that we may carry too broad of a selection. Call We are available 8am-10pm EST, 7 days a week. Pet parents can fill prescriptions for their pets online with The Pharmacy at PetSmart. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information dollars)." So the way it looks in a macro sense is there's either good loyalty and/or more growth up than there is deterioration down. We have low single-digit comps as our guidance for the year, so we've come down quite a bit from an expense structure than where we were relative to - we needed a 4plus comp before; we're now in a place where it's a much lower comp. You may now disconnect. During the first quarter of 2009 we are expecting comparable store sales of low to mid single digits and earnings per share of $0.27 to $0.31. improving the fundamental picture now back to larry petsmart despite the fact initial intentions for a smooth and well telegraph tightening cycle surging inflation is force their had to move faster and at times the markets reaction has been reminiscent of the tape taper tantrum and two thousand and thirteen . Earnings Revised 11/16/11 Q3 2011 PetSmart Inc Earnings Conference Call 11/16/11 Other Revised 09/10/11 Petsmart Inc at Goldman Sachs Global Retailing Conference 09/08/11 Earnings Revised 08/17/11 Q2 2011 Petsmart Inc Earnings Conference Call 08/17/11 Earnings Revised 05/19/11 Q1 2011 Petsmart Inc Earnings Conference Call 05/18/11 Other Revised . It's higher than the 2% and 2.5% and lower than what we said in third quarter. Chewy, Inc. - Press Releases HOUSTON, July 24, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) today announced the timing of its second quarter 2023 earnings release and conference call. So that's simple decision rules which I think make a lot of sense, both as you tell the story and numerically. We all know and love those lint rollers which help to remove pet hair from clothing or upholstery. PetSmart would do anything for petsthat's apparent in the retailer's new brand platform and campaign rolling out this week. Your next question comes from Matt Nemer - Thomas Weisel Partners. If you dont receive this email, check your SPAM folder or create an account. We changed this strategy, too. Some of the options available with The Pharmacy at PetSmart include: PetSmart customers can place pet prescription orders through The Pharmacy website, as long as they are active prescriptions that have been prescribed by a vet in the last 12 months. Our Hotels were slower during the off-peak weeks; however, many still had waiting lists during peak times. First, I'm not an insider on all that stuff, as you might imagine. It wasn't material over the quarters, Matt. The service business was pretty much in line with the rest of the business. View original content to download multimedia:https://www.prnewswire.com/news-releases/petsmart-to-host-conference-call-on-third-quarter-fiscal-2021-results-301441227.html, Plus500. Quantities may be limited. As a note, 2007 was a 53-week year and the fourth quarter included approximately a $0.07 benefit for the extra week. Services were flat at 2.9% of total sales. Visit help I guess, Bob, you just said that there is some brand loyalty, so can we assume that you're still seeing that kind of favorable mix towards the higher end brands?