Phoenix-based PetSmart Inc. will slow its store expansion plans in
2009 and beyond, according to Globest.com. The announcement, which
was made during the company's second-quarter conference call,
included plans for opening between 60 and 65 net new stores in
2009, and 50 to 60 new stores in 2010. Previously, the company had
projected a 20 percent decrease in new store growth in 2009,
compared to the 100 to 104 new units slated to open this year.
PetSmart also plans to open 35 PetsHotel in-store pet care centers
annually, down from 42 this year and the 45 originally projected
for 2009.
PetSmart to Slow Expansion
Sept 2, 2008, ET
Phoenix-based PetSmart Inc. will slow its store expansion plans in 2009 and beyond, according to Globest.com. The announcement, which was made during the company's second-quarter conference call, included plans for opening between 60 and 65 net new stores in 2009, and 50 to 60 new stores in 2010. Previously, the company had projected a 20 percent decrease in new store growth in 2009, compared to the 100 to 104 new units slated to open this year. PetSmart also plans to open 35 PetsHotel in-store pet care centers annually, down from 42 this year and the 45 originally projected for 2009.
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