PetSmart announces fourth quarter results

The US pet store chain PetSmart has announced selected preliminary results for the fourth quarter of 2014. Comparable store sales for the period increased 2.6 per cent, with the average ticket increasing by 2 per cent and comparable transactions increasing by 0.6 per cent, according to the company. In addition, based on preliminary results, PetSmart expects to meet or exceed previously issued guidance for the quarter of between $1.34 and $1.38 per share on a non-GAAP-adjusted diluted earnings per share basis.

As announced on 14 December 2014, the company entered into a definitive agreement to be acquired by a consortium led by BC Partners, Inc. at a price of $83.00 per share in cash. The special meeting of shareholders to consider and vote on the transaction will be held on 6 March.