PETsMART (PETM $61.07 +5.40) reported first quarter earnings of $0.85 per share, $0.12 better than the Capital IQ Consensus of $0.73, while revenues rose 7.3% year/year to $1.6 billion versus the $1.6 bln consensus. The company issued in-line guidance for the second quarter with EPS of $0.61-0.65 versus the $0.64 consensus.
The company issued upside guidance for fiscal year 2013 with EPS of $3.19-3.31 versus the $3.consensus and up from prior guidance of $3.02-$3.16. "As a reminder, 2012 contains a 53rd week. For all of 2012, we anticipate comparable store sales growth in the mid-single digit range, and total sales growth in the 9% to 10% range. The impact of the extra week is estimated to be $120 million in sales and $0.16 in EPS."






