PetSmart Third-quarter Profit Soars 23%

SAN FRANCISCO -- PetSmart Inc. late Wednesday said its third-quarter profit jumped 23% to $45.6 million, or 38 cents a share, from $38.1 million, or 31 cents a share, in the same quarter last year. Revenue for the Phoenix, Ariz.-based company rose 7.2% to $1.4 billion. Analysts polled by FactSet expected PetSmart to earn 38 cents a share on revenue of $1.38 billion. The pet retail and services company said it raised its 2010 earnings per share guidance from a previous range of $1.91 to $1.99 to its current expectations of $1.96 to $2. Copyright © 2010 MarketWatch,