PetSmart acquires Pet360

The American pet store chain PetSmart increased its sales in the second quarter of 2014 by 1.4 per cent compared with the same period last year to $1.7 bn. Comparable store sales, or sales in stores open at least one year, including online sales, decreased by 0.5 per cent, with comparable transactions decreasing by 2.6 per cent. Service sales, which are included in net sales, grew by 4.7 per cent to $214 mio. The company has also announced the acquisition of Pet360, an integrated media company dedicated to connecting pet parents with the information, products and advice they need to raise their pets. The transaction is expected to be completed in September, subject to customary closing conditions, including receipt of regulatory approvals.