Petsmart revises forth quarter outlook

The largest pet speciality retailer in the USA has revised its outlook for the fiscal fourth quarter, which ends 30 January. The company, which operates more than 700 pet stores in the USA and Canada, now expects fourth quarter comparable store sales of approximately 5 per cent. "Like many retailers, we experienced a slower-than-expected holiday selling season, but results improved as the quarter progressed and we are now back to normal levels of traffic and sales," said Phil Francis, Petsmart's chairman and CEO.