Petsmart 2011 Annual Report Download - page 18

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dent of Property Management and Store Design from 2004 to 2006. Prior to joining PetSmart, she held various
positions with Target Corporation, Pace Membership Warehouse, Inc. and Bizmart, Inc.
Neil H.Stacey was appointed Senior Vice President of Human Resources in February 2009. He joined
PetSmart in 1995 and served in a number of leadership roles including Vice President General Merchandise
Manager from 1995 to 1999, Senior Vice President of Merchandising Consumables from 1999 to 2000, Regional
Vice President from 2000 to 2007, and Divisional Vice President of Operations from 2007 to 2009. Prior to join-
ing PetSmart, he was employed at American Stores Company, a national food and drug retailer, where he held
several leadership positions including Vice President of Advertising and Market Development, Vice President of
Merchandising and Vice President of Business Process Redesign.
Bruce K. Thorn was appointed Senior Vice President, Store Operations and Services effective January 30,
2012. He joined PetSmart in 2007 as Vice President, Supply Chain Solutions, and served as Vice President,
Supply Chain from 2008 until December 2009 when he was promoted to Senior Vice President, Supply Chain.
From 2002 through 2007, he held leadership roles, including Chief Operating Officer from 2005 to 2007, for
LESCO, Inc., prior to its merger with Deere & Company. He previously held leadership roles with Gap, Inc.,
Cintas Corporation and the United States Army.
Melvin G. Tucker was appointed Senior Vice President, Finance effective January 30, 2012. He joined
PetSmart as Vice President of Financial Planning and Analysis in December 2008. Prior to joining PetSmart, he
served as Vice President of Financial Planning and Analysis at Circuit City Stores, Inc. from May 2005 to
November 2008. Prior to Circuit City, he served in various finance leadership roles at Home Depot from April
1990 until April 2005.
Item 1A. Risk Factors
In the normal course of business, our operations, financial condition and results of operations are routinely
subjected to a variety of risks. Our actual financial results could differ materially from projected results due to
some or all of the factors discussed below. You should carefully consider the risks and uncertainties described
below, as well as those discussed in the “Competition,” “Our Stores,” “Distribution” and “Government Regu-
lation” sections of this Annual Report on Form 10-K. In addition, current global economic conditions may
amplify many of these risks.
A decline in consumer spending or a change in consumer preferences could reduce our sales or profitability
and harm our business.
Our sales depend on consumer spending, which is influenced by factors beyond our control, including gen-
eral economic conditions, the availability of discretionary income and credit, consumer confidence, tax or inter-
est rate fluctuations, fuel and other energy costs, healthcare costs, weather and unemployment levels. Global or
national political unrest or uncertainty may also impact the price paid by consumers for goods, services and
commodities and reduce consumer spending and confidence, and reduce our sales or profitability. We may
experience declines in sales or changes in the types of products sold during economic downturns. Any material
decline in the amount of consumer spending could reduce our sales, and a decrease in the sales of higher-margin
products could reduce profitability and, in each case, harm our business. The success of our business depends in
part on our ability to identify and respond to evolving trends in demographics and consumer preferences. Failure
to timely identify or effectively respond to changing consumer tastes, preferences and spending patterns, as well
as pet ownership trends and pet care needs could adversely affect our business and financial results.
The pet products and services retail industry is very competitive and continued competitive forces may
adversely impact our business and financial results.
The pet products and services retail industry is very competitive. We compete with supermarkets, ware-
house clubs and other mass and general retail merchandisers, many of which are larger and have significantly
greater resources than we have. We also compete with a number of specialty pet supply stores and independent
pet stores, veterinarians, catalog retailers and e-commerce retailers. The pet products and services retail industry
has become increasingly competitive due to the expansion of pet-related product offerings by certain super-
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