PetSmart in the Doghouse

Last night PetSmart (PETM) beat the fiscal fourth-quarter earnings estimate by $0.03 per share, but guidance for the first quarter put the stock in the doghouse. Investors have been trained to expect strong same-store sales performance from PetSmart, but it appears comparisons are moderating. From the body language on the call, there will be no treats in the coming fiscal year.

I've been concerned about PetSmart's valuation for some time, and have been hesitant to buy more shares. Now you know why....344 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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