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4/2003
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Pets Mart still on course for growth
The American speciality chain Pets Mart increased its net income in the second quarter from $ 21.5 mio in the same period last year to $ 28.1 mio. Net sales for the second quarter of 2003 were $ 725.8 million, compared to $ 651.5 million for the same period last year. Comparable store sales — or sales in stores open at least a year — grew 7.9 percent over the second quarter of last year, when the company turned in comparable store sales growth of 11.4 percent.
Pets Mart expects to open 26 new stores and close two locations in the third quarter of 2003.
According to Pets Mart, growth in pet services, combined with a continued product mix shift, again resulted in improved margins. For the second quarter of 2003, gross margins were 29.7 percent, up 113 basis points from the second quarter of 2002.
Pets Mart projects its third quarter 2003 comparable store sales at 8 to 9 percent. Based on its strong performance in the first half of the year, the company now projects fiscal 2003 comparable store sales of 7 to 8 percent.
The company opened 16 new stores, closed four locations and reformatted 63 stores in the second quarter of 2003, which compares with nine new stores, two store closures and 76 store reformats during the second quarter of 2002. Planned reformats in the balance of the chain will be complete by the end of the third quarter of 2003.
Francesca Spinelli replaces Carol M. Cox
The American chain Pets Mart has appointed Francesca Spinelli to the position of senior vice president, people. In that role, Spinelli will manage the company’s human resources function, including staffing, compensation and benefits, associate relations and organizational development. She replaces Carol M. Cox, who recently retired from the position. Spinelli was most recently senior vice president of people for RadioShack Corporation. Prior to that, she was corporate vice president of organizational development for Wal-Mart Stores, Inc., and held a number of senior level human resources positions with McLane Company, Inc., formerly a division of Wal-Mart, and with the accounting and consulting firm of Dillashaw, Hawthorn, and Company P.C.
Petfood Forum in Chicago
Watt Publishing’s “Petfood Industry Magazine” will present Petfood Forum 2004, production symposium and exhibition, March 29-31, 2004 and Focus on Veterinary Nutrition, March 31-April 1, 2004 at the Hyatt Regency O’Hare in Chicago. These events target people interested in the manufacture and…
The American speciality chain Pets Mart increased its net income in the second quarter from $ 21.5 mio in the same period last year to $ 28.1 mio. Net sales for the second quarter of 2003 were $ 725.8 million, compared to $ 651.5 million for the same period last year. Comparable store sales — or sales in stores open at least a year — grew 7.9 percent over the second quarter of last year, when the company turned in comparable store sales growth of 11.4 percent.
Pets Mart expects to open 26 new stores and close two locations in the third quarter of 2003.
According to Pets Mart, growth in pet services, combined with a continued product mix shift, again resulted in improved margins. For the second quarter of 2003, gross margins were 29.7 percent, up 113 basis points from the second quarter of 2002.
Pets Mart projects its third quarter 2003 comparable store sales at 8 to 9 percent. Based on its strong performance in the first half of the year, the company now projects fiscal 2003 comparable store sales of 7 to 8 percent.
The company opened 16 new stores, closed four locations and reformatted 63 stores in the second quarter of 2003, which compares with nine new stores, two store closures and 76 store reformats during the second quarter of 2002. Planned reformats in the balance of the chain will be complete by the end of the third quarter of 2003.
Francesca Spinelli replaces Carol M. Cox
The American chain Pets Mart has appointed Francesca Spinelli to the position of senior vice president, people. In that role, Spinelli will manage the company’s human resources function, including staffing, compensation and benefits, associate relations and organizational development. She replaces Carol M. Cox, who recently retired from the position. Spinelli was most recently senior vice president of people for RadioShack Corporation. Prior to that, she was corporate vice president of organizational development for Wal-Mart Stores, Inc., and held a number of senior level human resources positions with McLane Company, Inc., formerly a division of Wal-Mart, and with the accounting and consulting firm of Dillashaw, Hawthorn, and Company P.C.
Petfood Forum in Chicago
Watt Publishing’s “Petfood Industry Magazine” will present Petfood Forum 2004, production symposium and exhibition, March 29-31, 2004 and Focus on Veterinary Nutrition, March 31-April 1, 2004 at the Hyatt Regency O’Hare in Chicago. These events target people interested in the manufacture and…
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