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Press release from Business Wire

PetSmart, Inc. Announces 2011 Analyst Day, Raises Third Quarter and Annual Earnings Guidance

Thursday, October 13, 2011

PetSmart, Inc. Announces 2011 Analyst Day, Raises Third Quarter and Annual Earnings Guidance05:02 EDT Thursday, October 13, 2011 PHOENIX (Business Wire) -- PetSmart, Inc. (NASDAQ: PETM) will discuss its strategic priorities for delivering growth and shareholder value at its analyst and investor presentation today, which is available through a webcast. Today, PetSmart is raising its previous third quarter earnings per share guidance to $0.46 to $0.48 from a previous range of $0.41 to $0.45. For the full year, earnings per share guidance is increasing to $2.46 to $2.52 from a previous range of $2.40 to $2.48. "Our focus is on providing our pet parents with the right solutions through our broad assortment and unmatched customer experience, all at a great value," said Bob Moran, President and Chief Executive Officer. "The favorable momentum in our business is the result of our differentiation, which is at the core of our brand and sets us apart from the competition." “Our better than anticipated earnings performance is due to improved comparable stores sales growth in the third quarter,” said Chip Molloy, Senior Vice President and Chief Financial Officer. "We currently expect third quarter comparable store sales growth of 5.5 - 6%, compared to a previous range of 3 - 4%.” PetSmart 2011 Analyst Day 11:00 a.m. - 1:00 p.m. Eastern Daylight Time on Thursday, October 13, 2011 Visit PetSmart Investor Relations website at www.petm.com, under 'Events,' and click on PetSmart 2011 Analyst Day Webcast to be taken to our webcast. Listen live online by following the directions above. A replay will also be available online shortly following the event. To access the replay, visit www.Petm.com, under 'Events,' and click on PetSmart 2011 Analyst Day Webcast to be taken to the webcast replay. About PetSmart PetSmart, Inc. (NASDAQ: PETM) is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. The company employs approximately 48,000 associates and operates more than 1,197 pet stores in the United States, Canada and Puerto Rico, over 185 in-store PetSmart(R) PetsHotel(R) dog and cat boarding facilities and is a leading online provider of pet supplies and pet care information (http://www.petsmart.com). PetSmart provides a broad range of competitively priced pet food and pet products; and offers dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp(SM) day care services and pet adoption services. Since 1994, PetSmart Charities, Inc., an independent 501(c)(3) non-profit animal welfare organization and the largest funder of animal welfare efforts in North America, has provided more than $134 million in grants and programs benefiting animal welfare organizations. Through its in-store pet adoption partnership with PetSmart Charities(R), PetSmart has helped save the lives of more than 4.5 million pets. Forward-looking statements This news release contains forward-looking statements concerning our expectations for future performance, including the statements comprising our 2011 guidance. These "forward-looking statements" are based on currently available information, operating plans and projections about future events and trends. They inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward-looking statements. Such risks and uncertainties include, but are not limited to: changes in general economic conditions; conditions affecting customer transactions and average ticket including, but not limited to, weather conditions or other seasonal events; our ability to compete effectively; disruption of our supply chain; our ability to effectively manage our growth and operations; changes in our cost structure; and changes in the legal or regulatory environment. Undue reliance should not be placed on such forward-looking statements as they speak only as of the date hereof, and we undertake no obligation to update these statements to reflect subsequent events or circumstances except as may be required by law. For additional information on these and other factors that arise when investing in PetSmart, please see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Follow PetSmart on Twitter www.twitter.com/PetSmartTLC Find PetSmart on Facebook www.facebook.com/PetSmart PetSmart, Inc.Investor Relations, 623-587-2025