Petco Profit Rises 32% on Solid Holiday Sales
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Petco Animal Supplies Inc., parent of the nation’s second-largest pet supplies retailer, said fiscal fourth-quarter earnings rose 32% as solid holiday season sales offset a weather-related slowdown in January customer traffic.
Net income in the period ended Jan. 29 increased to $27.6 million, or 47 cents a share, from $20.9 million, or 36 cents, a year earlier. Excluding one-time items, the San Diego-based company earned $32.5 million, or 55 cents a share.
Sales increased 10.9% to $492.3 million from $444 million, with sales at stores open at least a year, or same-store sales, climbing 5.1%.
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