Petsmart 2014 Annual Report Download - page 73

Download and view the complete annual report

Please find page 73 of the 2014 Petsmart annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 117

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117

Table of Contents
PetSmart, Inc. and Subsidiaries
Consolidated Statements of Income and Comprehensive Income
(In thousands, except per share data)
Year Ended
February 2, 2014 February 3, 2013 January 29, 2012
(52 weeks) (53 weeks) (52 weeks)
Merchandise sales $ 6,111,702 $ 5,979,604 $ 5,401,731
Services sales 766,006 740,471 674,859
Other revenue 38,919 38,162 36,714
Net sales 6,916,627 6,758,237 6,113,304
Cost of merchandise sales 4,222,542 4,124,432 3,783,951
Cost of services sales 539,229 533,504 488,216
Cost of other revenue 38,919 38,162 36,714
Total cost of sales 4,800,690 4,696,098 4,308,881
Gross profit 2,115,937 2,062,139 1,804,423
Operating, general, and administrative expenses 1,422,619 1,410,922 1,301,304
Operating income 693,318 651,217 503,119
Interest expense, net (51,779) (54,329) (56,842)
Income before income tax expense and equity income from Banfield 641,539 596,888 446,277
Income tax expense (239,444) (223,329) (166,960)
Equity income from Banfield 17,425 15,970 10,926
Net income 419,520 389,529 290,243
Other comprehensive (loss) income, net of income tax:
Foreign currency translation adjustments (7,645) 36 77
Other (20) (20) 33
Comprehensive income $ 411,855 $ 389,545 $ 290,353
Earnings per common share:
Basic $ 4.06 $ 3.61 $ 2.59
Diluted $ 4.02 $ 3.55 $ 2.55
Weighted average shares outstanding:
Basic 103,203 107,819 111,909
Diluted 104,316 109,611 113,993
The accompanying notes are an integral part of these consolidated financial statements.
F-4
Page 7
3
of 11
7
PETM - 2014.02.02 - 10
K
8
/
21
/
201
5
http://www.sec.gov/Archives/edgar/data/863157/000086315714000040/pet
m
-20140202x1...