Petsmart 4Q13 Earnings Call Notes

A digest of some of the top insights that I’ve gathered from this week’s earnings calls.  Full notes can be found here.

20% earnings growth on 1.2% comp growth

“During the fourth quarter, we delivered earnings per share growth of 19.6% on an equivalent 13-week basis versus last year, on comparable store sales growth of 1.2%. The fourth quarter was a challenging one.”

Multi-channel even at a pet-store

“And finally, we have been testing order online, pick up in store, which is the second-most requested feature by our customers. We will begin rolling this out to all of our stores in 2014.”

Weather hits products like grooming

“in December and January we did see much more severe and I would say continual weather. It really kept the customer from coming up for air. And if you think about the categories that affects, we saw an impact in grooming. So if you think about grooming when a customer can’t get to a grooming appointment for a period of time they’re just going to wait for the next one.”

60% of stores affected by weather

‘s we looked at our store base over the last couple months, we’ve seen that over 60% of our stores were affected continually by weather during that time and so it had – and that was a much bigger impact that we have seen in previous winters. So it was a very tough period. Most of our stores were affected.”

Seeing meaningful difference in non-weather affected areas but wont elaborate

“I would tell you that yes we are seeing meaningful differences but I would not quantify it for you.”

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