PetSmart lowers annual profit estimates

PetSmart Inc. announced lowering profit estimates for the full year, according to The Associated Press. Despite profits being 5% higher in the second quarter than what analysts projected (shares were $0.31 (EUR 0.22) each versus a projected $0.29 (EUR 0.20)), PetSmart lowered its earnings forecast to between $1.37 and $1.45 (between EUR 0.96 and EUR 1.02) per share from a prior range of $1.42 to $1.52 (EUR 0.99 to EUR 1.06).