Wed 12/13/2023 17:46 PM
PetSmart recently paid out a $1.3 billion dividend and moved a pharmacy subsidiary to parent Argos, according to sources.
Adjusted EBITDA decreased 3.9% year over year to $372.8 million in the third quarter, as net sales declined 1.1% to $2.523 billion due to pullback in consumer spending, sources said.
Comparable sales were negative 1.8%. Gross profit margin fell 20 bps year over year to 32.5% in the same comparison, sources added. The company generated $151 million in free cash flow, down on a year-over-year basis.
PetSmart did not immediately respond to a request for comment.
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