PetSmart, Inc. announced financial results for the fourth quarter and fiscal year of 2013, last week and applauded a fourth consecutive year of double-digit earnings per share growth.
Fourth quarter results report earnings of $1.28 per share were up 19.6% and net income increased 14% to $132 million in the fourth quarter of 2013. Net sales for the fourth quarter of 2013 increased 2.9% to $1.8 billion.
For the year, the company delivered earnings per share of $4.02, up 18.9%. Comparable store sales grew 2.7% and net sales for the year were $6.0 billion.
The company generated $615 million in cash flows from operating activities, spent $147 million in capital expenditures, distributed $54 million in dividends and repurchased $464 million in PetSmart stock.
The financial report also provided guidance for fiscal 2014 which included: Comparable store sales growth of 2-4%; Net sales growth of 4-6%; Earnings per share between $4.42 to $4.54; and Capital expenditures of $150 million to $160 million.
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