Monday, August 31, 2009

PetSmart lowers annual profit estimates

PetSmart Inc. announced lowering profit estimates for the full year, according to The Associated Press.
Despite profits being 5% higher in the second quarter than what analysts projected (shares were $0.31 each versus a projected $0.29), PetSmart lowered its earnings forecast to between $1.37 and $1.45 per share from a prior range of $1.42 to $1.52.

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