Growing numbers at PetSmart

PetSmart reported net income of $ 78.4 million for the fourth quarter of 2008. That compares with net income of $ 75.4 million for the fourth quarter of 2007. For all of fiscal 2008, the company reported net income of $ 192.7 million. Net sales for the 13-week fourth quarter of 2008 increased 2.3 per cent to $ 1.36 billion, compared to the 14-week fourth quarter of 2007. The impact of the 14th week on net sales was approximately $ 90 million, including $ 8 million in pet services sales. Comparable store sales - or sales in stores open at least a year - grew 3 per cent in the fourth quarter. During the fourth quarter, pet services sales were $ 130.7 million, up 6.9 percent from the 14-week fourth quarter of last year. PetSmart generated $ 5.07 billion in net sales in the 52-week fiscal 2008, up from $ 4.67 billion in net sales for the 53-week fiscal 2007. Comparable store sales grew 3.8 percent in 2008. For the 52-week fiscal 2008, pet services sales were $ 526.7 million, or a 15.8 percent growth over the 53-week fiscal 2007.