PetSmart Q4 Comps. Up, Sees Adj. EPS In Line With Consensus

(RTTNews) - Pet supplies retailer PetSmart Inc. (PETM), which agreed to be acquired by a consortium led by BC Partners in December, posted 2.6 percent growth in comparable store sales for the fourth quarter, and said it expects to meet or exceed its earlier forecast adjusted earnings guidance.

The company, on Monday, in its preliminary results, said it expects to meet or exceed its prior issued adjusted earnings per share guidance of $1.34 - $1.38. On average, 24 analysts polled by Thomson Reuters expect the company to earn $1.37 per share for the quarter. Analysts' estimates typically exclude special items.

For the quarter, average ticket grew 2.0% and comparable transactions rose 0.6%.

With regards to its acquisition by a consortium led by BC Partners, the special meeting of shareholders to consider and vote on the transaction will be held on March 6, 2015.