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Author Topic: PetSmart Not Investors Best Friend  (Read 3322 times)
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3catkidneyfailure
Guest
« on: October 11, 2007, 11:57:22 AM »

http://www.forbes.com/markets/2007/10/10/petsmart-retail-closer-markets-equity-cx_ml_1010markets36.html

Move over Menu Foods Trust Fund. From Forbes Magazine, news on PetSmart.
3cats

"Matthew Fassler of Goldman Sachs expected a soft end to the quarter, as same-store sales have lagged in recent weeks. In a note to investors, Fassler wrote: "The third quarter is PetSmart's smallest and least profitable, and as such tends to be its most vulnerable."

Fassler also noted that same-store sales might have been damaged by the recent pet food recall, leaving "a gap in assortments as the company re-stocks floor space vacated by the equine business."

« Last Edit: October 11, 2007, 12:01:30 PM by 3catkidneyfailure » Logged
straybaby
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« Reply #1 on: October 11, 2007, 12:20:30 PM »

"a gap in assortments as the company re-stocks floor space vacated by the equine business."

huh?!   Huh
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3catkidneyfailure
Guest
« Reply #2 on: October 11, 2007, 02:53:55 PM »

Had me laughing, too. They did sell off their horse products division this summer
I think. But I don't think that's where the gaps in their assortments are.
3cats
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JanC
Guest
« Reply #3 on: October 14, 2007, 06:09:43 AM »

Straybaby said:  "a gap in assortments as the company re-stocks floor space vacated by the equine business.......huh?"

Sounds like the best excuse they could come up with to explain the loss in profit.  These companies seem to want to forget about the pf recall.....funny how it doesn't get mentioned..... Undecided

I've shopped in their stores for a fairly long time.....but not since the recalls......the store in town USED to be very busy.  I've gone in a few times either for poopie bags (but no more because I've found them elsewhere), to weigh my dog or just to look around & the place is pretty dead compared to the way it was pre-pfr days.  I know a lot of these stores were burned the same as some of the manufacturers but I think the way this whole thing was handled was downright sh***y.  Most of these companies were more interested in profit & saving their good name than were interested in advising the public & saving some pets from a horrible death.  That, to me, is criminal.  I have my own personal fecal roster & this store is very high on my list......I won't do business with anyone that I feel handled the recall in an irresponsible manner.  When these companies report a big loss in profit, I cheer.....I have no sympathy for them.  Where was their sympathy when dogs & cats started to get sick & die from the poison they were selling?  To make matters worse, during the recall I remember people saying they found recalled foods still on the shelf.  That did it for me.  Management can blame it on minimum wage workers but it is their responsibility to assure their customers that the food on the shelves is safe & not part of the recall PERIOD.

I'll continue to go in there to check it out but I won't buy anything.  I also would just love for a pf company rep to come up to me & tell me about their wonderful food.  A good way to release a lot of anger & frustration....... Grin
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3catkidneyfailure
Guest
« Reply #4 on: October 14, 2007, 06:34:53 AM »

When your basic mentality is that fur-kids and humans are just units of profit
to be exploited by any means available, that allows you to manufacture and
sell deadly pet food and people food.
See:
http://itchmoforums.com/pet-food-testing/strange-pet-food-testing-being-done-at-the-university-of-illinois-t2266.0.html;new;topicseen#new
3cats
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5CatMom
Guest
« Reply #5 on: October 14, 2007, 06:46:22 AM »

3cat,

My thoughts exactly.  In a $15 billion per year industry, they seem willing to accept some percentage of casualties as the cost of doing business.  So what if they lose a few thousand pets?  They're plenty more where those came from.  It's disgusting.

5CatMom
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