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Non-Tech : PETM - Petsmart -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (1372)	6/18/1999 9:43:00 PM
From: Tom Klempay	Read Replies (2) \| Respond to of 1508

Kerry, Well, it's a pretty long article but I'll try to summarize: - pretty bullish remarks by analyst John Glass from Deutsche Banc Alex Brown - Glass said same-store sales are accelerating and and they have a mounting cash balance - mentioned signing of Nutro, a popular dog-food brand that should boost same store sales by 1%-2% - new management team requires analysis that shows a new store opening will generate specific returns on capital; past management just opened new stores to show growth - Petsmart's partnership with ideaLab! for an e-commerce site - CFO (Neil Watanabe) said the company expects to make an announcement regarding its UK operations when it reports its fiscal second quarter in August - focused on reducing excess merchandise; new management trimmed $10 million in inventory, payroll, and carrying costs related to buying, storing, and moving all of their excess inventory -tk