Petsmart 2000 Annual Report Download - page 63

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the warehousing and corporate functions that support them. The PETsMART Direct segment represents the
Company’ s direct marketing operations, including its separate corporate and warehousing functions. During fiscal
years 1998 and 1997, the PETsMART U.K. subsidiary was also a reportable business segment. The U.K.
segment included all retail stores in the United K ingdom, including the warehousing and corporate functions
specific to the U.K. operations, and was disposed of during fiscal 1999 (see Note 4). This segmentation is
consistent with the format reviewed by the Company’ s management.
F-22
PETSMART, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
PETsMART, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Operating results and other financial data by business segment for fiscal years 1999, 1998, and 1997 were
as follows (in thousands):
1999 1998 1997
Net sales:
PETs MART North America $2,003,913 $1,799,981 $1,513,955
PETs MART U.K. — 205,468 167,581
PETs MART Direct — External customers 106,403 103,873 109,063
PETs MART Direct — Inters egment 20,798 12,936 9,124
Eliminations (20,798) (12,936) (9,124)
Total net s ales $2,110,316 $2,109,322 $1,790,599
1999 1998 1997
Operating income (loss):
PETs MART North America $ 83,123 $ 59,953 $ 33,245
PETs MART U.K — (8,291) (634)
PETs MART Direct 3,646 5,594 5,075
Los s on disposal of s ubs idiary (45,669) — —
Merger, business integration and restructuring
(costs ) benefits — 1,808 (73,514)
Operating income (los s ) 41,100 59,064 (35,828)
Interest income 2,866 3,092 213
Interest expens e (21,722) (23,050) (13,921)
Income (loss) before equity loss in
PETsMART.com, income tax expense
(benefit) and cumulative effect of a change in
accounting principle $ 22,244 $ 39,106 $(49,536)
9/16/2010 www.sec.gov/Archives/edgar/data/86…
sec.gov/…/0000950153-00-000575-d1.… 63/70