Q: Hello
Can you comment on Pet Value and Real earnings?
Thank you very much.
Stephane
Can you comment on Pet Value and Real earnings?
Thank you very much.
Stephane
5i Research Answer:
PET EPS was 35c, beating estimates of 31c; revenue of $260M matched estimates. EBITDA of $56.58M beat estimates by 5.8%. Profit rose 4% but guidance was unchanged. Same store sales rose 0.8% but total retail sales fell slightly. Franchise revenue though grew and more than made up the difference. We would consider the quarter OK, but not great. Investors were expecting better guidance, and the decision of its main shareholder to sell $175M in shares is going to pressure shares for a period of time. Debt also remains quite high.
REAL has been posted.