Two reports from Dow Jones:
May 27, 1998 5:45 PM
DOW JONES ONLINE NEWS
PETSMART POSTS 1ST-QUARTER PROFIT AGAINST YEAR-AGO LOSS
PetSmart Inc. - Phoenix
1st Quar May 3:
1998 1997
Sales $496,564,000 $412,654,000
Net income 153,000 a (746,000)
Avg shrs (basic) 115,745,000 114,295,000
Avg shrs (diluted) 116,763,000 114,295,000
Shr earns (basic & diluted)
Net income .... a (.01)
Figures in parentheses are losses.
a. Includes merger and integration charges from
acquisition of Pet City Holdings PLC. Excluding
charges, income was $5.7 million, or 5 cents a share.
PetSmart Inc. (PETM) first-quarter same-store sales in
North America rose 6.4% from a year ago, while United
Kingdom same-store sales rose 1% from a year ago.
PetSmart is a pet food and supplies retailer.
Copyright (c) 1998 Dow Jones & Company, Inc.
All Rights Reserved.
May 27, 1998 5:20 PM
DOW JONES NEWS SERVICE
MICHAELS, PETSMART SLOUCH IN AFTERMARKET TRADING
NEW YORK (Dow Jones)--Michaels Stores Inc.'s
(MIKE) stock retracted slightly in aftermarket trading,
despite beating Wall Street's first-quarter forecasts by a
penny.
The Irving, Texas, company, which owns and operates
retail store chains, recently stepped back to 29 3/8, after
settling flat with its previous close of 29 1/2.
Michaels earned 18 cents a diluted share, while a First
Call consensus estimate put earnings at 17 cents. A year
ago, the company posted earnings of 12 cents.
PetSmart Inc. (PETM) was also active during the late
session, following news of its first-quarter results, which
were right in line with consensus predictions.
The stock pulled back a tad after-hours, moving down
to 10 15/16, after settling up 1/8, or 1.1%, at 11.
The pet food and supplies superstore chain broke even,
as Wall Street had expected. A year ago, the Phoenix
company posted earnings of 5 cents a share, excluding a
charge.
Several other companies that made announcements after
the market close remained relatively inactive.
-Tara Siegel; 201-938-5176
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