Behind the Sell-Off in PetSmart Stock
PetSmart (NASDAQ:PETM) is one of my favorite stores for pet needs. The atmosphere is very friendly, and I enjoy bringing my pets with me to shop for their needs. In general, PetSmart operates as a specialty retailer of products, services, and solutions for pets in the United States, Puerto Rico, and Canada.
The company offers consumables, such as pet food, treats, and litter; and hard goods, which include pet supplies and other goods, consisting of collars, leashes, health care supplies, grooming and beauty aids, toys, apparel, and pet beds and carriers, as well as aquariums and habitats, accessories, décor, and filters for fish, birds, reptiles, and other small pets. It also provides fresh-water fish, small birds, reptiles, and small pets; and pet services, such as dog training, pet grooming, and pet adoption services.
In addition, the company operates PetSmart PetsHotels that offer boarding for dogs and cats; provides personalized pet care, temperature controlled rooms and suites, daily specialty treats and play time, and day camp services for dogs; and operates veterinary hospitals, which offer services comprising routine examinations and vaccinations, dental care, a pharmacy, and surgical procedures. What you may not know is that the company is highly profitable, and the stock has rewarded shareholders over the years. However, today the stock is down 9 percent, plunging after reporting earnings.