PETsMART is a leading retailer of pet supplies with over 500 stores in the US and Canada. In 1999, it had net sales of over $2 billion but an operating loss of $32 million due to losses from selling its UK subsidiary and investing in PETsMART.com. Going forward, PETsMART aims to be the preferred provider for pets' lifetime needs by focusing on "pet enthusiasts" and aligning its business around their needs over the next 3 years, including improving product selection, professional services, customer service, customer experience, and developing a loyalty program. PETsMART believes this strategy will drive operating excellence and strengthen its core business.
The Pantry, Inc. is the largest convenience store operator in the southeastern United States, operating 1,289 stores across 10 states. In fiscal year 2002, the company focused on operational excellence through strategic investments and initiatives to enhance store performance and gasoline operations. While total revenues declined from $2.6 billion in 2001 to $2.5 billion in 2002 due to lower gasoline prices, the company grew comparable store merchandise sales by 3.4% and gasoline volume by 1.5%. Net income improved to $1.8 million compared to a net loss in 2001, as the company paid down debt and ended the year with $42.2 million in cash.
The Pantry, Inc. 2001 Annual Report summarizes the company's strategic moves in fiscal 2001 to strengthen its future. Despite challenges from rising gas prices and economic downturn, the company streamlined processes, enhanced efficiency, and implemented technology initiatives like new reporting and inventory systems. It acquired 45 stores to strengthen its market position but curtailed aggressive expansion. The Pantry focused on cost cuts, improving merchandise sales, and leveraging new fuel pricing systems to balance profits and volume in a volatile gas market. It positioned itself to capitalize on future growth opportunities once market conditions improve.
Henry Schein is the largest distributor of healthcare products and services to office-based healthcare practitioners in North America and Europe. In 2002, Henry Schein achieved record financial results with net sales of $2.8 billion, operating income of $196 million, and net income of $117 million. The company expects continued growth through increasing penetration of existing customers, gaining new customers, and cross-selling between its business groups that serve the dental, medical, veterinary, and technology markets.
Tricon Global Restaurants' 2000 annual report summarizes the company's financial performance and business strategy. While the company achieved 16% earnings per share growth, same store sales declined 2% in the US, driven by 5% and 3% declines at Taco Bell and KFC respectively. The bankruptcy of their main food distributor, AmeriServe, presented challenges but the company was able to arrange interim financing and transition to a new distributor, McLane Company. Going forward, Tricon's focus is on achieving sustainable sales growth through increasing customer satisfaction worldwide and driving same store sales and new unit growth both domestically and internationally.
The Pantry, Inc. achieved strong financial growth in fiscal year 1999 through an aggressive acquisition strategy and enhanced merchandising initiatives. The company acquired 297 stores, grew total revenues 70.5% to $1.678 billion, and expanded its store count to 1,274 locations across 8 Southeastern states. Merchandise same-store sales increased 9.6% and gasoline same-store sales grew 5.9% due to offering customers a broader selection of branded and unbranded fuel. Net income was $10.4 million compared to a loss of $3.3 million in 1998. The company plans to continue its acquisition strategy and increase sales through new merchandising programs.
This document is AutoZone's 2003 annual report which provides financial highlights and discusses priorities and growth areas. Some key points:
- In fiscal year 2003, AutoZone achieved record sales of $5.5 billion, operating profit of $918 million, earnings per share of $5.34, and after-tax return on invested capital of 23.4%.
- The three growth priorities are the U.S. retail business, AZ Commercial business, and expanding into Mexico.
- The CEO highlights accomplishments in fiscal 2003 and discusses opportunities for continued growth in the industry, focusing on increasing market share and capturing unperformed maintenance.
- AutoZone aims to be the most exciting zone for vehicle solutions through innovation
Parker is a global company that provides motion and control technologies. It is focused on creating technological breakthroughs, serving diversified markets around the world, and achieving new financial goals. Parker reported increased net sales, income from operations, net income, and cash flows from operating activities from 1999 to 2000. The company is positioned for consistent double-digit growth through expanding in core markets and new growth areas around the world. Parker is developing new technologies to advance industries like manufacturing, communication, and biomedical science.
The document is PETsMART's 2002 annual report. It summarizes that in 2002:
- PETsMART grew its total sales to $2.7 billion and net income increased to $88.9 million.
- Margins increased to 29.2% and pet services sales grew 29%.
- The company completed transforming its stores into the new format and building out its distribution system.
- Going forward, PETsMART plans to focus on growing pet services, testing new concepts like pet boarding, and continuing to improve customer experience.
The Pantry, Inc. is the largest convenience store operator in the southeastern United States, operating 1,289 stores across 10 states. In fiscal year 2002, the company focused on operational excellence through strategic investments and initiatives to enhance store performance and gasoline operations. While total revenues declined from $2.6 billion in 2001 to $2.5 billion in 2002 due to lower gasoline prices, the company grew comparable store merchandise sales by 3.4% and gasoline volume by 1.5%. Net income improved to $1.8 million compared to a net loss in 2001, as the company paid down debt and ended the year with $42.2 million in cash.
The Pantry, Inc. 2001 Annual Report summarizes the company's strategic moves in fiscal 2001 to strengthen its future. Despite challenges from rising gas prices and economic downturn, the company streamlined processes, enhanced efficiency, and implemented technology initiatives like new reporting and inventory systems. It acquired 45 stores to strengthen its market position but curtailed aggressive expansion. The Pantry focused on cost cuts, improving merchandise sales, and leveraging new fuel pricing systems to balance profits and volume in a volatile gas market. It positioned itself to capitalize on future growth opportunities once market conditions improve.
Henry Schein is the largest distributor of healthcare products and services to office-based healthcare practitioners in North America and Europe. In 2002, Henry Schein achieved record financial results with net sales of $2.8 billion, operating income of $196 million, and net income of $117 million. The company expects continued growth through increasing penetration of existing customers, gaining new customers, and cross-selling between its business groups that serve the dental, medical, veterinary, and technology markets.
Tricon Global Restaurants' 2000 annual report summarizes the company's financial performance and business strategy. While the company achieved 16% earnings per share growth, same store sales declined 2% in the US, driven by 5% and 3% declines at Taco Bell and KFC respectively. The bankruptcy of their main food distributor, AmeriServe, presented challenges but the company was able to arrange interim financing and transition to a new distributor, McLane Company. Going forward, Tricon's focus is on achieving sustainable sales growth through increasing customer satisfaction worldwide and driving same store sales and new unit growth both domestically and internationally.
The Pantry, Inc. achieved strong financial growth in fiscal year 1999 through an aggressive acquisition strategy and enhanced merchandising initiatives. The company acquired 297 stores, grew total revenues 70.5% to $1.678 billion, and expanded its store count to 1,274 locations across 8 Southeastern states. Merchandise same-store sales increased 9.6% and gasoline same-store sales grew 5.9% due to offering customers a broader selection of branded and unbranded fuel. Net income was $10.4 million compared to a loss of $3.3 million in 1998. The company plans to continue its acquisition strategy and increase sales through new merchandising programs.
This document is AutoZone's 2003 annual report which provides financial highlights and discusses priorities and growth areas. Some key points:
- In fiscal year 2003, AutoZone achieved record sales of $5.5 billion, operating profit of $918 million, earnings per share of $5.34, and after-tax return on invested capital of 23.4%.
- The three growth priorities are the U.S. retail business, AZ Commercial business, and expanding into Mexico.
- The CEO highlights accomplishments in fiscal 2003 and discusses opportunities for continued growth in the industry, focusing on increasing market share and capturing unperformed maintenance.
- AutoZone aims to be the most exciting zone for vehicle solutions through innovation
Parker is a global company that provides motion and control technologies. It is focused on creating technological breakthroughs, serving diversified markets around the world, and achieving new financial goals. Parker reported increased net sales, income from operations, net income, and cash flows from operating activities from 1999 to 2000. The company is positioned for consistent double-digit growth through expanding in core markets and new growth areas around the world. Parker is developing new technologies to advance industries like manufacturing, communication, and biomedical science.
The document is PETsMART's 2002 annual report. It summarizes that in 2002:
- PETsMART grew its total sales to $2.7 billion and net income increased to $88.9 million.
- Margins increased to 29.2% and pet services sales grew 29%.
- The company completed transforming its stores into the new format and building out its distribution system.
- Going forward, PETsMART plans to focus on growing pet services, testing new concepts like pet boarding, and continuing to improve customer experience.
Alltel Corporation reported its financial results for the first quarter of 2008. Service revenues increased 11% compared to the first quarter of 2007, however operating income decreased 21% and net income decreased 154% due to losses from continuing operations. Capital expenditures also decreased 14% year-over-year. The number of customers grew 9% to over 13 million, while average monthly cash costs per customer remained relatively flat at $32.53.
This annual report summarizes Amgen's performance in 2000 and outlines goals for the future. Key points include:
- Amgen achieved strong financial results in 2000 and aims to more than double revenues and products on the market in the next five years.
- Goals for the future include launching new products like ARANESP beginning in 2001, expanding R&D capabilities and the product pipeline, and strengthening the organization.
- Four new products could launch in the next 18 months - ARANESP, anakinra, abarelix-depot, and SD/01. R&D spending will increase to nearly $1 billion in 2001 to support pipeline growth.
CVS achieved strong financial results in 2000, with record sales, operating profit, and net earnings. CVS is positioned for continued growth by focusing on its vision to be the most customer-focused, innovative, and convenient healthcare retailer. Key factors driving growth in the retail pharmacy industry include the introduction of new drugs, an aging population, and expanding managed care. CVS is well-positioned to capitalize on these opportunities through its expanding network of CVS/pharmacy stores, CVS ProCare specialty pharmacies, PharmaCare pharmacy benefits management business, and CVS.com online pharmacy.
This document summarizes the business model and marketing plan of Nutribiz International, Inc., a network marketing company that sells wellness products. Key points include:
- Nutribiz sells juice drinks and other wellness products through a binary compensation structure where distributors earn commissions on sales and by building teams of distributors on their left and right sides.
- Distributors can become a mobile stockist, stockist, or mega stockist by investing higher amounts to receive wholesale pricing and earn service fees on team member purchases.
- In addition to binary earnings, distributors earn unilevel commissions of 10% on sales of those in their downline up to 10 levels deep.
- The presentation emphasizes
This document summarizes Hormel Foods Corporation's strong financial performance in fiscal year 1999. Net earnings rose 17.3% to $163.4 million and earnings per share increased to $2.22. All core operating units contributed to sales growth of 3.0% to $3.357 billion. The company invested in expanding production capacities and new product lines that contributed to volume growth, including Always Tender pork products, fully cooked bacon, and Jennie-O turkey products. Hormel Foods adopted economic value added to further optimize performance and increase shareholder value.
The document is Lowe's annual report for 2003. It discusses Lowe's strong financial performance in 2003, with sales increasing 18.1% to $30.8 billion and net earnings growing 27.6% compared to 2002. Lowe's served over 520 million customers in 2003 and opened 130 new stores. The report expresses confidence that demographic and housing market trends will continue to drive growth in home improvement spending.
Dole Food Company's annual report discusses its commitment to providing safe, high quality food products while protecting the environment. It highlights that Dole focuses on growing its core food businesses globally through expansion, joint ventures, and maximizing returns by downsizing non-profitable operations. The report also discusses Dole's efforts in nutrition education to encourage healthy lifestyles and consumption of fruits and vegetables.
This document provides an annual financial summary and letter to shareholders for Gannett Co., Inc. for the year 2000. Some key points:
- Revenues exceeded $6 billion for the first time, up 22% from 1999, due to strong advertising demand, the Olympics, and election spending.
- Operating cash flow rose 19% to $2.2 billion on strong results across businesses. Earnings increased 10% to $972 million despite higher costs.
- Gannett completed several major acquisitions in 2000, including Newsquest, Central Newspapers (adding the Arizona Republic and Indianapolis Star), and other newspapers.
- The company grew to 99 daily newspapers in the US and expanded its presence in fast
Chiquita Brands International is a leading marketer and producer of bananas and other fresh produce. In 2004, the company achieved several financial and operational goals including 18% sales growth to $3.1 billion, a 23% increase in operating cash flow to $92 million, and an 11% reduction in total debt. The CEO discusses the company's strategy to strengthen its core banana business, pursue profitable growth through new acquisitions and segments, build a high-performance organization, and improve profitability in North America. Key goals for 2005 include completing the acquisition of Fresh Express to diversify product offerings and integrating the new leadership team to execute the long-term strategy.
Cooper Cameron Corporation is an international manufacturer of oil and gas equipment. In 2004, the company achieved record revenues of over $2 billion. Key highlights included highest-ever backlog and orders, 40% increase in earnings per share, and over $170 million spent on acquisitions. While industry conditions were stable with modest growth, the company believes it is well-positioned for various market scenarios through its financial strength and diverse business segments.
Cooper Cameron Corporation is an international manufacturer of oil and gas pressure control equipment. In 1999, revenues were $1.46 billion, down 22% from 1998 due to declining orders from customers in the weak market. Net income was $43 million. Several plants were closed and about 1,000 employees were reduced through layoffs and attrition to control costs in the difficult market conditions. The rotating compressor business was sold to improve focus on reciprocating engines and compressors. Cash from the sale enhanced Cooper Cameron's financial flexibility with $210 million of debt and a debt-to-capitalization ratio of 22.8%.
The document summarizes Jarden Corporation's 2004 annual report. It discusses record financial results in 2004, including 5% organic sales growth and 18% EBITDA margins. It also highlights acquisitions of The United States Playing Card Company and American Household, Inc., owner of brands like Coleman and Sunbeam. The acquisition of American Household tripled Jarden's revenue base and provides opportunities for margin expansion and earnings growth.
erie insurance group 2004-second-quarter-reportfinance49
This document is the 2nd quarter report from Erie Indemnity Company to its shareholders. It discusses the company's financial performance for the 2nd quarter and first half of 2004.
Key points:
- Net income for the 2nd quarter increased 5.1% to $57.0 million compared to the same period in 2003.
- Net income for the first 6 months of 2004 increased 6.1% to $106.5 million.
- Management fee revenue, which the company earns from Erie Insurance Group, increased 10% for the 2nd quarter due to a 10.7% increase in Erie Insurance Group's direct written premiums.
- However, income from management operations
Chiquita Brands International announced a proposed restructuring of $862 million in publicly-held debt discussed in the annual report. If successful, the restructuring would convert a significant portion of the debt into common equity, diluting existing shareholders. The restructuring process is still in the early stages and will continue past the customary May date for the annual shareholder meeting, which has been rescheduled for September 12, 2001. Shareholders will receive proxy materials in advance of the September meeting. The company's website and SEC filings provide information on the restructuring, operations, and other developments.
This document provides an overview of Spectra Energy Corp's ongoing segment and other EBITDA for the second quarter and year-to-date 2008 compared to the same periods in 2007. It shows that total ongoing segment and other EBITDA increased 23% to $765 million for Q2 2008 from $625 million in Q2 2007, and increased 27% to $1,679 million YTD 2008 from $1,324 million YTD 2007. Breakdowns by segment show increases for U.S. Transmission, Western Canada Transmission & Processing, and Field Services, while Distribution and Other were relatively flat. Reconciliations provide additional details on EBITDA calculations for each segment.
PetSmart reported financial results for 2007 with net sales of $4.67 billion, up 10% from 2006. Net income was $258.7 million compared to $185.1 million in 2006. Earnings per share were $1.95. Services sales grew 22% to $458.7 million. PetSmart operated over 1,000 stores in the US and Canada and had over 43,000 employees. The company continued expanding services like grooming and boarding and opened 100 new stores in 2007, while focusing on expense management and capital spending reductions in light of economic challenges.
The Pantry had a very successful fiscal year 1999, achieving strong growth and financial results. They completed several major acquisitions, expanding their store count to 1,274 stores across 8 states. Total revenues increased 71% to $1.68 billion from fiscal year 1998. Net income was $14 million compared to $4.67 million in 1998. The company's IPO in June 1999 strengthened their balance sheet and allowed them to continue an aggressive acquisition strategy to take advantage of opportunities in the fragmented convenience store industry.
1) Interphase Corporation reported financial results for Q1 2009 with revenues of $8.4 million, a 13% increase over Q1 2008. Revenues increased 61% sequentially from Q4 2008.
2) The company reported a net income of $707,000 or $0.11 per share for Q1 2009 compared to a net loss in Q1 2008.
3) Interphase's balance sheet remains strong with $26.4 million in working capital including $17.4 million in cash and marketable securities as of March 31, 2009.
Tenneco Automotive reduced SGA&E expenses by $17 million or 3.7% from 2000 to 2001 through cost cutting initiatives like Six Sigma and strategic sourcing. Six Sigma projects identified process improvements that saved $19 million in 2001, while reverse auctions for parts lowered supply costs by an average of 13%. The company also used computer-aided engineering tools to design emission control systems virtually in order to reduce development costs and time to market for new products.
Motorola experienced a difficult year in 2001 with declining sales and losses. The company implemented a 5-point plan to rebuild value that included strengthening management, stabilizing finances, reducing costs, pursuing growth through innovation, and reevaluating strategies. While most sectors struggled, PCS improved market share and profitability and BCS bolstered its leadership in cable equipment through acquisitions. The company remains focused on innovation in communications solutions and returning to profitability.
PetSmart reported financial results for 2007 with net sales of $4.67 billion, net income of $258.68 million, and operating cash flow of $332.72 million. The company operates over 1,000 pet stores and 97 PetSmart PetsHotel facilities. In a letter to stockholders, the CEO and COO discussed focusing on the core pet business, managing expenses through initiatives like reducing new store openings, and remaining committed to investments that differentiate PetSmart from competitors.
PetSmart reported financial results for 2007 with net sales of $4.67 billion, up 10% from 2006. Net income was $258.7 million compared to $185.1 million in 2006. Earnings per share were $1.95. Services sales grew 22% to $458.7 million. PetSmart operated over 1,000 pet stores in the US and Canada and had total employees of over 43,000. The CEO discussed focusing on driving transactions and customer service in 2008 while managing expenses through cost controls and slowing expansion plans.
Alltel Corporation reported its financial results for the first quarter of 2008. Service revenues increased 11% compared to the first quarter of 2007, however operating income decreased 21% and net income decreased 154% due to losses from continuing operations. Capital expenditures also decreased 14% year-over-year. The number of customers grew 9% to over 13 million, while average monthly cash costs per customer remained relatively flat at $32.53.
This annual report summarizes Amgen's performance in 2000 and outlines goals for the future. Key points include:
- Amgen achieved strong financial results in 2000 and aims to more than double revenues and products on the market in the next five years.
- Goals for the future include launching new products like ARANESP beginning in 2001, expanding R&D capabilities and the product pipeline, and strengthening the organization.
- Four new products could launch in the next 18 months - ARANESP, anakinra, abarelix-depot, and SD/01. R&D spending will increase to nearly $1 billion in 2001 to support pipeline growth.
CVS achieved strong financial results in 2000, with record sales, operating profit, and net earnings. CVS is positioned for continued growth by focusing on its vision to be the most customer-focused, innovative, and convenient healthcare retailer. Key factors driving growth in the retail pharmacy industry include the introduction of new drugs, an aging population, and expanding managed care. CVS is well-positioned to capitalize on these opportunities through its expanding network of CVS/pharmacy stores, CVS ProCare specialty pharmacies, PharmaCare pharmacy benefits management business, and CVS.com online pharmacy.
This document summarizes the business model and marketing plan of Nutribiz International, Inc., a network marketing company that sells wellness products. Key points include:
- Nutribiz sells juice drinks and other wellness products through a binary compensation structure where distributors earn commissions on sales and by building teams of distributors on their left and right sides.
- Distributors can become a mobile stockist, stockist, or mega stockist by investing higher amounts to receive wholesale pricing and earn service fees on team member purchases.
- In addition to binary earnings, distributors earn unilevel commissions of 10% on sales of those in their downline up to 10 levels deep.
- The presentation emphasizes
This document summarizes Hormel Foods Corporation's strong financial performance in fiscal year 1999. Net earnings rose 17.3% to $163.4 million and earnings per share increased to $2.22. All core operating units contributed to sales growth of 3.0% to $3.357 billion. The company invested in expanding production capacities and new product lines that contributed to volume growth, including Always Tender pork products, fully cooked bacon, and Jennie-O turkey products. Hormel Foods adopted economic value added to further optimize performance and increase shareholder value.
The document is Lowe's annual report for 2003. It discusses Lowe's strong financial performance in 2003, with sales increasing 18.1% to $30.8 billion and net earnings growing 27.6% compared to 2002. Lowe's served over 520 million customers in 2003 and opened 130 new stores. The report expresses confidence that demographic and housing market trends will continue to drive growth in home improvement spending.
Dole Food Company's annual report discusses its commitment to providing safe, high quality food products while protecting the environment. It highlights that Dole focuses on growing its core food businesses globally through expansion, joint ventures, and maximizing returns by downsizing non-profitable operations. The report also discusses Dole's efforts in nutrition education to encourage healthy lifestyles and consumption of fruits and vegetables.
This document provides an annual financial summary and letter to shareholders for Gannett Co., Inc. for the year 2000. Some key points:
- Revenues exceeded $6 billion for the first time, up 22% from 1999, due to strong advertising demand, the Olympics, and election spending.
- Operating cash flow rose 19% to $2.2 billion on strong results across businesses. Earnings increased 10% to $972 million despite higher costs.
- Gannett completed several major acquisitions in 2000, including Newsquest, Central Newspapers (adding the Arizona Republic and Indianapolis Star), and other newspapers.
- The company grew to 99 daily newspapers in the US and expanded its presence in fast
Chiquita Brands International is a leading marketer and producer of bananas and other fresh produce. In 2004, the company achieved several financial and operational goals including 18% sales growth to $3.1 billion, a 23% increase in operating cash flow to $92 million, and an 11% reduction in total debt. The CEO discusses the company's strategy to strengthen its core banana business, pursue profitable growth through new acquisitions and segments, build a high-performance organization, and improve profitability in North America. Key goals for 2005 include completing the acquisition of Fresh Express to diversify product offerings and integrating the new leadership team to execute the long-term strategy.
Cooper Cameron Corporation is an international manufacturer of oil and gas equipment. In 2004, the company achieved record revenues of over $2 billion. Key highlights included highest-ever backlog and orders, 40% increase in earnings per share, and over $170 million spent on acquisitions. While industry conditions were stable with modest growth, the company believes it is well-positioned for various market scenarios through its financial strength and diverse business segments.
Cooper Cameron Corporation is an international manufacturer of oil and gas pressure control equipment. In 1999, revenues were $1.46 billion, down 22% from 1998 due to declining orders from customers in the weak market. Net income was $43 million. Several plants were closed and about 1,000 employees were reduced through layoffs and attrition to control costs in the difficult market conditions. The rotating compressor business was sold to improve focus on reciprocating engines and compressors. Cash from the sale enhanced Cooper Cameron's financial flexibility with $210 million of debt and a debt-to-capitalization ratio of 22.8%.
The document summarizes Jarden Corporation's 2004 annual report. It discusses record financial results in 2004, including 5% organic sales growth and 18% EBITDA margins. It also highlights acquisitions of The United States Playing Card Company and American Household, Inc., owner of brands like Coleman and Sunbeam. The acquisition of American Household tripled Jarden's revenue base and provides opportunities for margin expansion and earnings growth.
erie insurance group 2004-second-quarter-reportfinance49
This document is the 2nd quarter report from Erie Indemnity Company to its shareholders. It discusses the company's financial performance for the 2nd quarter and first half of 2004.
Key points:
- Net income for the 2nd quarter increased 5.1% to $57.0 million compared to the same period in 2003.
- Net income for the first 6 months of 2004 increased 6.1% to $106.5 million.
- Management fee revenue, which the company earns from Erie Insurance Group, increased 10% for the 2nd quarter due to a 10.7% increase in Erie Insurance Group's direct written premiums.
- However, income from management operations
Chiquita Brands International announced a proposed restructuring of $862 million in publicly-held debt discussed in the annual report. If successful, the restructuring would convert a significant portion of the debt into common equity, diluting existing shareholders. The restructuring process is still in the early stages and will continue past the customary May date for the annual shareholder meeting, which has been rescheduled for September 12, 2001. Shareholders will receive proxy materials in advance of the September meeting. The company's website and SEC filings provide information on the restructuring, operations, and other developments.
This document provides an overview of Spectra Energy Corp's ongoing segment and other EBITDA for the second quarter and year-to-date 2008 compared to the same periods in 2007. It shows that total ongoing segment and other EBITDA increased 23% to $765 million for Q2 2008 from $625 million in Q2 2007, and increased 27% to $1,679 million YTD 2008 from $1,324 million YTD 2007. Breakdowns by segment show increases for U.S. Transmission, Western Canada Transmission & Processing, and Field Services, while Distribution and Other were relatively flat. Reconciliations provide additional details on EBITDA calculations for each segment.
PetSmart reported financial results for 2007 with net sales of $4.67 billion, up 10% from 2006. Net income was $258.7 million compared to $185.1 million in 2006. Earnings per share were $1.95. Services sales grew 22% to $458.7 million. PetSmart operated over 1,000 stores in the US and Canada and had over 43,000 employees. The company continued expanding services like grooming and boarding and opened 100 new stores in 2007, while focusing on expense management and capital spending reductions in light of economic challenges.
The Pantry had a very successful fiscal year 1999, achieving strong growth and financial results. They completed several major acquisitions, expanding their store count to 1,274 stores across 8 states. Total revenues increased 71% to $1.68 billion from fiscal year 1998. Net income was $14 million compared to $4.67 million in 1998. The company's IPO in June 1999 strengthened their balance sheet and allowed them to continue an aggressive acquisition strategy to take advantage of opportunities in the fragmented convenience store industry.
1) Interphase Corporation reported financial results for Q1 2009 with revenues of $8.4 million, a 13% increase over Q1 2008. Revenues increased 61% sequentially from Q4 2008.
2) The company reported a net income of $707,000 or $0.11 per share for Q1 2009 compared to a net loss in Q1 2008.
3) Interphase's balance sheet remains strong with $26.4 million in working capital including $17.4 million in cash and marketable securities as of March 31, 2009.
Tenneco Automotive reduced SGA&E expenses by $17 million or 3.7% from 2000 to 2001 through cost cutting initiatives like Six Sigma and strategic sourcing. Six Sigma projects identified process improvements that saved $19 million in 2001, while reverse auctions for parts lowered supply costs by an average of 13%. The company also used computer-aided engineering tools to design emission control systems virtually in order to reduce development costs and time to market for new products.
Motorola experienced a difficult year in 2001 with declining sales and losses. The company implemented a 5-point plan to rebuild value that included strengthening management, stabilizing finances, reducing costs, pursuing growth through innovation, and reevaluating strategies. While most sectors struggled, PCS improved market share and profitability and BCS bolstered its leadership in cable equipment through acquisitions. The company remains focused on innovation in communications solutions and returning to profitability.
PetSmart reported financial results for 2007 with net sales of $4.67 billion, net income of $258.68 million, and operating cash flow of $332.72 million. The company operates over 1,000 pet stores and 97 PetSmart PetsHotel facilities. In a letter to stockholders, the CEO and COO discussed focusing on the core pet business, managing expenses through initiatives like reducing new store openings, and remaining committed to investments that differentiate PetSmart from competitors.
PetSmart reported financial results for 2007 with net sales of $4.67 billion, up 10% from 2006. Net income was $258.7 million compared to $185.1 million in 2006. Earnings per share were $1.95. Services sales grew 22% to $458.7 million. PetSmart operated over 1,000 pet stores in the US and Canada and had total employees of over 43,000. The CEO discussed focusing on driving transactions and customer service in 2008 while managing expenses through cost controls and slowing expansion plans.
PetSmart reported financial results for 2007 with net sales of $4.67 billion, up 10% from 2006. Net income was $258.7 million compared to $185.1 million in 2006. Earnings per share were $1.95. Services sales grew 22% to $458.7 million. PetSmart operated over 1,000 pet stores in the US and Canada and had total employees of over 43,000. The CEO discussed focusing on driving transactions and customer service in 2008 while managing expenses through cost controls and slowing expansion plans.
Satellite TV dishes on tens of millions of homes and seamless global telephone service are some developing markets driving a $70 billion satellite and wireless industry. Hughes is uniquely positioned to take advantage of opportunities in this industry due to its leadership in satellite and wireless systems, proven record of innovation, strong finances, and highly skilled workforce.
General Mills reported financial results for fiscal year 2006 that marked the beginning of a new phase of growth for the company. Net sales increased 4% to over $11.6 billion worldwide, and segment operating profit grew 5% despite significant input cost inflation. Earnings per share were $2.90. The company aims to deliver low single-digit sales growth, mid single-digit operating profit growth, and high single-digit earnings per share growth over the next 3-5 years. International expansion and growth in new retail channels will be important drivers of the company's future financial performance.
General Mills reported financial results for fiscal year 2006 that marked the beginning of a new phase of growth for the company. Net sales increased 4% to over $11.6 billion worldwide, and segment operating profit grew 5% despite significant input cost inflation. Earnings per share were $2.90. The company aims to deliver low single-digit sales growth, mid single-digit operating profit growth, and high single-digit earnings per share growth over the next 3-5 years through international expansion, growth in new retail channels, and a diversified portfolio of brands and businesses.
Staples had another year of strong growth and performance in fiscal year 1997. Key points:
- Sales exceeded $5 billion, a 31% increase over the previous year.
- 129 new stores were opened in North America.
- Major investments were made to support continued growth, including a new distribution center, national advertising campaign, and agreements surrounding the new Staples Center sports arena in Los Angeles.
- International operations, while not yet profitable, showed signs of improved performance and Staples remains committed to investing in their long-term growth.
- Overall, the company is well positioned for continued strong earnings growth in the future through ongoing store expansion and improvements across its business segments.
The 2000 annual report summarizes AutoNation's financial performance for the year. Key points include:
- Revenue increased 7% to $20.6 billion while improving earnings per share 27% to 84 cents per share.
- AutoNation transformed itself in 2000 by closing used vehicle megastores, spinning off its rental group, selling non-retail assets, and reducing expenses by $100 million to focus solely on automotive retail.
- For 2001 and beyond, AutoNation aims to continue growing earnings per share 10-12% annually by leveraging its scale and expanding high-margin opportunities in used vehicles, parts/service, and finance/insurance.
The 2000 annual report summarizes AutoNation's financial performance for the year. Key highlights include:
- Revenue increased 7% to $20.6 billion while improving earnings per share 27% to 84 cents per share.
- AutoNation completed restructuring initiatives to focus solely on automotive retail.
- The company aims to leverage its scale and market position in used vehicles, parts/service, and finance/insurance to grow earnings per share 10-12% annually.
- AutoNation will reinvest cash flows of over $800 million generated in 2000 on upgrading stores and acquiring dealerships to pursue further growth opportunities.
- The annual report summarizes AutoZone's fiscal year 2002 performance, which saw record sales of $5.3 billion, earnings per share of $4.00, and a 52% return for shareholders.
- The three divisions - U.S. Retail, AZ Commercial, and Mexico - all contributed to growth. U.S. Retail had same-store sales growth of 8% and now operates 3,068 stores across 44 states.
- AZ Commercial grew 20% to $532 million in sales by expanding commercial product offerings and dedicated sales force for commercial customers.
- AutoZone aims to continue delivering strong profitable growth and pursuing opportunities in the large market for automotive maintenance and repairs.
The Pantry is the leading convenience store operator in the southeastern United States, operating 1,289 stores across 10 states. In fiscal year 2002, the company focused on enhancing store performance through merchandise resets, expanding food offerings, and strengthening gasoline operations through competitive pricing strategies and brand optimization. Total revenues were $2.5 billion, comparable store merchandise sales grew 3.4%, and earnings per share were $0.10, as the company worked to improve efficiency and profitability through cost management initiatives.
Parker provides a shareholder's letter summarizing its business strategy and financial performance. It aims to grow through acquisitions that expand its product offerings and markets served, while maintaining double-digit growth and strong financial returns. Recent acquisitions have added $728 million in sales across industries like hydraulics, filtration, sealing and more. Parker believes its e-business initiatives and focus on customer service will help drive continued growth in revenue and profits.
Schering-Plough is a global pharmaceutical company focused on research and developing new therapies. In 2000, the company achieved 8% sales growth to $9.8 billion, led by its pharmaceutical business. Key therapeutic areas include allergy/respiratory, where sales grew 9% to $4.2 billion, driven by the antihistamine Claritin. The company is working to expand its allergy franchise with new products like Clarinex and strengthen its position in other areas like cancer and inflammation. Research and marketing efforts aim to continue delivering new treatments and driving international expansion.
The Pantry is the second largest independently operated convenience store chain in the US. In fiscal 2001, The Pantry focused on implementing strategic moves to strengthen its future, including streamlining processes, enhancing efficiency, and directing resources to improve operations. Key actions taken were curtailing acquisitions, centralizing administrative functions to reduce costs, and implementing technology solutions to better monitor performance and enhance efficiency at the corporate and store levels. While fiscal 2001 proved challenging due to economic conditions, The Pantry is positioned to benefit from its strategic moves once market conditions improve.
This document is Parker Hannifin Corporation's 2001 Annual Report which provides an overview of the company's financial performance and discusses its strategies. The report discusses how Parker operates in many industries including aerospace, food processing, computing, energy, transportation, manufacturing and more. It highlights several acquisitions Parker made in 2001 to expand its capabilities and better serve customers. The report emphasizes Parker's focus on customer service, financial performance, and growth through innovation.
This document is Parker Hannifin Corporation's 2001 Annual Report which provides an overview of the company's financial performance and discusses its strategies. The report summarizes that Parker experienced a decline in orders during a manufacturing recession but took steps to reduce costs and maintain margins. It also discusses several acquisitions completed in 2001 to expand its product offerings and industries served. The report outlines Parker's strategy of focusing on customer service, financial performance, and growth to strengthen its position as a leader in motion and control technologies.
This investor presentation provides an overview of Jarden Corporation. In 3 sentences: Jarden is a diversified global consumer products company with a portfolio of over 100 brands across multiple segments. It has established processes for continuous improvement to drive organic growth and integrate acquisitions. The presentation discusses Jarden's strategy, brand strengths, growth approach, operating culture, and framework for ongoing process improvement.
This investor presentation provides an overview of Jarden Corporation. In 3 sentences: Jarden is a diversified global consumer products company with a portfolio of over 100 brands across multiple segments. It has established resilient business platforms and market-leading brands. Jarden's growth strategy focuses on organic growth through increased investment and acquisitions of core, tuck-in businesses that strategically fit with its international focus.
Alltrista Corporation is a leading provider of niche consumer products used for home food preservation. In 2001, Alltrista undertook strategic initiatives to focus on its core consumer products business, including the divestiture of non-core businesses. As a result, Alltrista reported a net loss of $85.4 million for 2001 due to special charges associated with divestitures and restructuring costs. However, the divestitures and restructuring positioned Alltrista to focus on growing its consumer products business through the planned acquisition of Tilia International, which would make Alltrista the market leader in home vacuum packaging systems.
Alltrista sold off non-core businesses in 2001 to focus on consumer products, especially those related to home food preservation. This included brands for canning and vacuum packaging. The divestitures removed financial burdens and generated tax refunds. Alltrista also closed an office to reduce costs. Going forward, the strategy is to leverage leadership in niche consumer product markets to drive growth, with an acquisition of Tilia planned to expand into vacuum packaging.
This document is Jarden Corporation's 2002 Annual Report. It provides an overview of the company's performance in 2002 including financial highlights and summaries of its main business segments: branded consumables, home vacuum packaging, plastic consumables, and other. It discusses the company's acquisition of Tilia and strategic direction to build a world-class consumer products company with leading market shares in niche branded consumable products.
This document is Jarden Corporation's 2002 Annual Report. It provides an overview of the company's performance in 2002 including financial highlights and summaries of its main business segments: branded consumables, home vacuum packaging, plastic consumables, and other. It discusses the company's acquisition of Tilia and strategic direction to build a world-class consumer products company with leading market shares in niche branded consumable products.
The 2003 annual report summarizes Jarden Corporation's financial and operating results for the year. It discusses record financial performance with revenues surpassing $500 million and cash flow from operations exceeding $70 million. It also highlights the acquisitions of Diamond Brands and Lehigh Consumer Products, which added over $250 million in annual revenue. The Chairman expresses optimism that 2004 will be another record year as the company continues executing its strategy of building a portfolio of market-leading consumer brands.
The 2003 annual report summarizes Jarden Corporation's financial and operating results for the year. It discusses record financial performance with revenues surpassing $500 million and cash flow from operations exceeding $70 million. It also highlights the acquisitions of Diamond Brands and Lehigh Consumer Products, which added over $250 million in annual revenue. The Chairman expresses optimism that this is just the beginning and that Jarden will continue executing its strategy to deliver strong growth.
The document is Jarden Corporation's 2004 annual report. It discusses Jarden's record financial results in 2004, including organic sales growth of 5% and EBITDA margins of 18% excluding non-cash charges. It also summarizes two acquisitions completed in 2004 - The United States Playing Card Company and American Household, Inc. - and how they will help Jarden expand its business and drive margin improvement towards a target of 15% over five years. The report highlights the company's focus on innovation through new product introductions and maintaining financial flexibility.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
Jarden Corporation reported record financial performance in 2006, with net sales increasing 21% to $3.85 billion and consolidated segment earnings growing 23% to $442 million. The annual report provides an overview of the company's three business segments - Branded Consumables, Consumer Solutions, and Outdoor Solutions - and their financial contributions. It also highlights new products, operational efficiencies, and initiatives around veterans hiring, outdoor recreation, and sustainability. Chairman Martin Franklin expressed confidence that the company is on track to double adjusted earnings per share within three to five years.
Chiquita Brands experienced a difficult year in 1999 due to severe banana price declines in Europe resulting from an overallocation of EU banana import licenses. Weak economies in Eastern Europe and Russia also negatively impacted pricing. Operating income declined compared to 1998. However, the company's Processed Foods business saw improved earnings. Chiquita completed a workforce reduction to streamline operations and generate annual savings. The EU banana import regime remains in noncompliance with international trade laws and continues to be challenged at the WTO.
This document provides an update on Chiquita's progress against its three-year strategic plan to focus on its core banana business, drive better performance through cost reductions, and strengthen its balance sheet. Some key updates include selling non-core assets to focus on bananas, implementing cost saving programs with a target of $70 million in annual savings by 2005, reducing debt by over $100 million in 2002, and plans to invest cash flow into new growth opportunities once debt targets are met.
This document is Chiquita Brands International's 2003 annual report. It summarizes the company's financial performance and operational highlights for 2003. The key points are:
- Operating income doubled to $140 million compared to previous periods, due in part to asset sales. Debt was reduced by $122 million, achieving a $400 million target early.
- Productivity increased 12% on owned banana farms and a new fresh cut fruit business was successfully launched. Labor and food safety certifications were also earned.
- The company aims to leverage its brand and expand into higher-margin fruit businesses, targeting 30% of revenues from new businesses in 5 years. Transformation will include a focus on marketing and new talent.
This document is Chiquita Brands International's 2005 Annual Report. Some key highlights include:
- Net sales grew 27% to a record $3.9 billion in 2005. Operating income increased 66% to $188 million and net income grew 138% to $131 million.
- The company continued strengthening its management team and board. It also acquired Fresh Express, the US market leader in value-added salads.
- In Europe, Chiquita reinforced its brand leadership in the face of a controversial new EU banana import regime. In North America, it achieved its first meaningful increase in banana pricing in over 15 years.
- Fresh Express accelerated its market leadership in retail value-added salads to a
This document is Chiquita Brands International's 2006 Annual Report. It summarizes the company's financial highlights for 2006, including a net loss of $96 million compared to a net income of $131 million in 2005. It also discusses challenges the company faced in 2006, such as higher EU tariffs on banana imports and an E. coli outbreak affecting the fresh-cut industry. The letter from the Chairman and CEO provides additional context on the company's operational and strategic progress in 2006 despite facing difficulties that impacted financial performance.
Chiquita Brands International reported its 2007 annual results. Key highlights included:
- Net sales increased to $4.7 billion from $4.5 billion in 2006, driven by higher banana prices in Europe and North America and favorable exchange rates, partly offset by lower volumes.
- Operating income was $31 million compared to an operating loss of $27 million in 2006.
- Cash flow from operations improved to $69 million from $15 million in 2006.
- Total debt was reduced to $814 million from $1 billion at the end of 2006 through repayment from proceeds from selling the company's shipping fleet.
- The company announced a restructuring in October 2007 to improve profitability through consolidation and
This annual report summarizes the financial highlights and performance of Cooper Cameron Corporation for the years 1997, 1996 and 1995. Some key points:
- Revenues increased over 30% from 1996 to 1997, reaching $1.81 billion, driven by acquisitions, pricing improvements and strong sales.
- Earnings before interest, taxes, depreciation and amortization exceeded the target of 15% of revenues, reaching 16.3%.
- Net income improved to $140.6 million in 1997 compared to a net loss in 1996.
- The CEO outlines plans to continue improving productivity and manufacturing efficiency to meet increased financial targets for 1998.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Unlock Your Potential with NCVT MIS.pptxcosmo-soil
The NCVT MIS Certificate, issued by the National Council for Vocational Training (NCVT), is a crucial credential for skill development in India. Recognized nationwide, it verifies vocational training across diverse trades, enhancing employment prospects, standardizing training quality, and promoting self-employment. This certification is integral to India's growing labor force, fostering skill development and economic growth.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Discover the Future of Dogecoin with Our Comprehensive Guidance
petm_99AReport_opt
1. moving ahead
P E T s M A R T, I n c. 1 9 9 9 Annual Report
2. Closer to the customer
PETsMART, Inc. is a leading retail supplier of pet food, supplies and
PETsMART, Inc.
complete veterinary, grooming and training services. The company operates more than 500 pet
superstores in the United States and Canada, has a large pet supply and equine catalog business,
and is a major investor in PETsMART.com, a leading pet e-commerce company.
PETsMART Direct, a wholly owned subsidiary of PETsMART,
PETsMART Direct, Inc.
Inc., provides direct marketing services for the corporation and order fulfillment for PETsMART.com.
Through branded catalogs and its State Line Tack direct mail and e-commerce divisions, PETsMART
Direct carries more than 50,000 pet and equine products.
PETsMART Charities, Inc. PETsMART Charities is a 501(c)3 organization dedicated to
saving the lives of homeless and abandoned pets. Since 1992, PETsMART Charities has donated
more than $10 million to animal welfare programs and, through its “Luv-A-Pet” Adoption
Centers in PETsMART stores, has saved the lives of more than 700,000 companion animals.
PETsMART.com is the Internet’s most popular pet-related consumer
Strategic Investments PETsMART.com, Inc.
site. The site, which was developed in partnership with IdeaLab!, provides visitors with
convenience, security and service. It features a broad range of merchandise, expert advice and
community activities for consumers who care about pets. At the end of 1999, PETsMART, Inc.
owned approximately 49 percent of the outstanding equity of PETsMART.com.
Medical Management International (MMI) is
Medical Management International
the world’s largest provider of veterinary services. The company operates full-service veterinary
hospitals and wellness clinics inside PETsMART stores. MMI is an industry leader in “human”
quality veterinary care, and has pioneered pet wellness programs and the world’s first pet
insurance plans based on actuarial data. PETsMART owns approximately 36 percent of the
outstanding equity of MMI.
3. PS101 '99 Annual Report_opt v3 7/31/00 11:17 AM Page 1
Moving ahead of the pack
1999 1998 1997
2,110.3
Financial Highlights
(In thousands, except per share amounts and store data)
1,903.9
Total Results
Net sales $2,110,316 $2,109,322 $1,790,599
1,623.0
Operating income (loss) $ 41,100 $ 59,064 $ (35,828) 1,392.1
Net income (loss) $ (32,422) $ 23,269 $ (34,430) '9 9
'9 8
'9 7
Earnings (loss) per share $ (0.28) $ 0.20 $ (0.30) '9 6
Total stores 484 534 468 Total Sales (b)
(In Millions)
Sales per square foot $ 163 $ 175 $ 177
Inventories $ 377,298 $ 336,058 $ 317,547
Working capital $ 280,311 $ 296,307 $ 297,441
86,769
Total debt $ 276,544 $ 296,205 $ 278,761
85,228
65,547
Comparable Results(a)
Net sales(b) $2,110,316 $1,903,854 $1,623,018
38,320
Operating income(c) $ 65,547(f) $ 38,320(f)
$ 86,769
Net income(g) $ 38,051(d)(e) $ 16,094(d)
$ 26,391 '9 9
'9 8
'9 7
Earnings per share(h) $ 0.33 $ 0.23 $ 0.14 '9 6
Total stores 484 441 384 Operating Income(c)
Sales per square foot(b)
(In Thousands)
$ 163 $ 160 $ 159
(a) Comparable results reflect historical balances adjusted to exclude the loss on the sale of the United Kingdom (U.K.) subsidiary, the equity loss in PETsMART.com, certain
0.33
restructuring and business integration charges and the cumulative effects of changes in accounting principles. Had these events not occurred, results may have differed.
0.40
(b) Excludes net sales of the U.K. subsidiary of $205.5 million in 1998, $167.6 million in 1997, and $108.9 million in 1996. Results of operations and the loss resulting
from the sale of the U.K. subsidiary in 1999 were classified as “loss on disposal of subsidiary” in the consolidated statements of operations.
(c) Excludes operating losses of the U.K. subsidiary of $14.6 million in 1999, $8.3 million in 1998, $0.6 million in 1997, and $1.9 million in 1996, as well as the loss of
0.23
$31.1 million resulting from the sale of the U.K. subsidiary in December 1999.
(d) Excludes the cumulative effect of a change in accounting principle of $0.5 million in 1999, and $2.6 million in 1997, net of income tax benefits.
(e) Excludes equity loss in PETsMART.com of $29.1 million in 1999.
0.14
(f) Excludes credit to restructuring charges of $1.8 million in 1998, as well as restructuring charges of $16.1 million and merger and business integration charges of '9 9
$57.4 million in 1997. Restructuring charges in 1997 were recorded as components of cost of sales ($9.4 million), store operating expenses ($3.3 million) and general '9 8
and administrative expenses ($3.4 million). '9 7
'9 6
(g) Excludes the results of operations and the loss on the sale of the U.K. subsidiary as discussed in Note “c” above, net of the related income tax benefit of $4.8 million
in 1999, $5.7 million in 1998, and $0.2 million in 1997. Excludes the items discussed in Note “f” above, net of income taxes (benefit) of $0.7 million in 1998, and
Earnings Per Share(c)
($26.2) million in 1997.
(h) Represents pro forma net income divided by weighted average shares outstanding on a diluted basis of 114,940 for 1999, 117,085 for 1998, and 114,920 for 1997. (In Dollars)
4. PS101 '99 Annual Report_opt v3 7/31/00 11:18 AM Page 2
May 1, 2000
Dear fellow shareholders:
1999 was a watershed year for PETsMART. In the face of the many challenges that
Our Vision
come with rebuilding a business, we maintained our company’s fundamental strength
PETsMART has the
and stability. We fortified our retail operations, reshaped our portfolio and, perhaps
services and solutions to
most importantly, we outlined a vision for the future – a vision we believe will translate into
help you be a responsible measurable value for our customers, our associates and our shareholders.
pet owner by fulfilling Operating income from our North American stores grew almost 39 percent over 1998,
margins continued to improve, and comparable store sales increased 4.6 percent.
the total lifetime needs
of your pet. On a comparable basis, PETsMART’s net income also grew, coming in at 33 cents per
share, versus 23 cents last year, excluding the impact of losses from the operation and
sale of our retail store subsidiary in the United Kingdom, and from our investment in
PETsMART.com. While tough to face in the short term, these portfolio changes took an
under-performing asset off the books and gave us another customer touch point via a
strong and synergistic presence on the Web – both important investments in the future.
We also continued to invest in our infrastructure. Improvements to our supply chain began
to come on line and early results show these changes have real power to reduce inventory
and better our in-stock position over time. New information systems refined our operations,
while our corporate brand program, unique retail mix and customer service initiatives
drove traffic and sales.
Despite that ongoing stability and growth, and the completion of a $25 million
common stock purchase program, the PETsMART share price reached a low of
$2.63 in October 1999. The performance of our stock was our biggest disappointment
and reflected a great deal of change in our industry.
During 1999, discounters and grocery stores began to offer a broader range of
specialty items, including premium pet foods and expanded pet supplies. Consumers
(front row – left to right):
Philip L. Francis
Chairman, President and CEO
grew increasingly savvy and the pace of change intensified, presenting new challenges and
Robert F. Moran
President, North American Stores
significant opportunities for retailers.
(back row – left to right):
Scott A. Crozier
Senior Vice President and General Counsel
Neil T. Watanabe
In this environment, only companies that understand how to capitalize on change will
Executive Vice President and CFO
Marcia R. Meyer
President, PETsMART International
win. PETsMART plans to be one of them.
Supply Company
5. PS101 '99 Annual Report_opt v3 7/31/00 11:19 AM Page 3
identify
Most analysts estimate the size of the annual market for basic pet products and services at about
$31 billion. At PETsMART, we see it differently. If you look at the total lifetime needs of pets –
“ Over the next three
things like adoption, nutrition, health and medical care, shelter, and pet and owner education
and entertainment – the market grows substantially. PETsMART is in a much stronger position
years, we will align
than any other retailer to capitalize on that potential.
each aspect of our
Our vision for our company and our future is simple, powerful and achievable: PETsMART will
be the preferred provider for the lifetime needs of pets.
business with the
To make that vision a reality, we must reshape our business. Our customers, and what they want,
needs, desires and
show us the way.
aspirations of the
PETsMART has identified a large segment of customers we call the “pet enthusiast. This group
”
is passionately committed to their pets, and to serve them, we must be just as passionate. We
”
pet enthusiast.
must nourish the pet enthusiasts’ relationships with their pets. We must provide solutions, expert
advice, and an environment that enhances and facilitates the bond between pets and people.
PETsMART has the experience and basic infrastructure to do these things well.
Better yet, we have found that creating value for the pet enthusiast allows us to capture
important secondary customer segments and achieve a large share of the best customers using
a single investment strategy.
7. PS101 '99 Annual Report_opt v3 7/31/00 11:20 AM Page 5
Over the next three years, we will align each aspect of our business with the needs, desires and
aspirations of the pet enthusiast.
“ Our vision for our
The pet enthusiast – not our suppliers – now drives merchandise
Product selection
management. This dramatic shift represents our single biggest opportunity to lower costs
company and our future
and at the same time, give customers the value and the products they want throughout
is simple, powerful and
the lives of their pets.
achievable: PETsMART
From there, we will move into category management, where everything we do, from the structure
will be the preferred
of the organization to our business processes, is built around how our customers shop.
provider for the lifetime
No other retailer can match the scale of grooming, pet training
Professional services
”
needs of pets.
and veterinary services currently offered by PETsMART. In 2000, we plan to develop these core
services to their full potential.
Strong professional pet services are required to fulfill the lifetime needs of pets. They help
customers find solutions and expert advice. They provide multiple touch points with customers,
encourage destination shopping and position PETsMART as the authority in pet care. We
believe that, when fully developed, our core services will be an engine of profit and growth.
Then, we plan to go after new, breakthrough services that will further set us apart.
To win, PETsMART must change its focus from the tasks we accomplish
Customer service
to the customers we serve. We are tapping into the passion and expertise of our 21,000 associates
to make PETsMART a customer-centered, sales-focused company. Our substantial investment
in our people will pay dividends in the form of better convenience, information and service for
our customers and a sustained competitive advantage for our shareholders.
In PETsMART stores, customers can shop with their pets, adopt
Customer experience
a homeless animal and watch grooming and pet training in action. We are building on those
unique strengths to create the pet-caring atmosphere our customers crave, make PETsMART
stores more fun to shop, enhance sales productivity and reinforce the strong PETsMART brand.
By keeping the promises we make to customers, we earn the right to serve them for
Loyalty
a lifetime. Our singular focus is meeting our customers’ needs – spoken and unspoken – every
time we interact with them. In the next year, we will develop a targeted loyalty program that
supports our relationship with our best customers.
8. PS101 '99 Annual Report_opt v3 7/31/00 11:20 AM Page 6
perform
Getting to the vision is a journey – one that starts with strengthening the core of our business.
We gained ground in 1999 with successful behind-the-scenes work to build a solid infrastructure.
“ By keeping the In 2000, we will drive operating excellence in every core business practice that touches the pet
enthusiast customer.
promises we make
By the end of this year, we will:
to customers, we
• Enhance the pet-caring, customer-focused atmosphere in our stores. Our associates will greet
every customer. They will gain and actively share extensive product and service knowledge
earn the right to serve
and focus on convenience.
”
them for a lifetime.
• Make sure the items customers want are in stock.
• Grow grooming and pet training sales. We will treat our services business with a start-up
mentality, making substantial investments to drive rapid, profitable growth.
• Boost premium and corporate brand sales. We will encourage customers to move from grocery
to premium food and supplies, and continue to offer excellent value through our own brands.
• Manage our costs aggressively, driving operating expenses down and maintaining an extremely
competitive price and value position.
• Drive a culture of excellence. We will create rigorous operating procedures and key performance
indicators, develop business-driven information systems that provide the data we need to
make sound decisions, and share best practices chain wide.
9. PS101 '99 Annual Report_opt v3 7/31/00 11:21 AM Page 7
succeed
Success in developing our core businesses gives us the foundation. From there, we will continue
the journey toward realizing our vision, expanding the core to fulfill the needs of our best
“ The vision shifts our
customers and to create new demand.
Achieving these goals will fundamentally change the way PETsMART does business. The vision focus from transactions
shifts our focus from transactions to relationships. It makes us a trusted authority, rather than
to relationships. It
simply a seller of goods. And ultimately, it builds the brand, making PETsMART not just a
place to shop, but the ultimate symbol of caring for pets.
builds the brand,
By creating a new kind of company, PETsMART will move ahead of the pack and be extremely
making PETsMART
difficult to catch. We will be the kind of company that exploits, rather than reacts to market
turbulence. As the preferred provider for the lifetime needs of pets, we will create significant not just a place to
and sustainable value.
shop, but the ultimate
symbol of caring
”
for pets.
Philip L. Francis
Chairman, President and CEO
10. PS101 '99 Annual Report_opt v3 7/31/00 11:21 AM Page 8
Fulfilling the needs of a lifetime
From the moment a pet joins a family, PETsMART is there,
providing the products, services and solutions to nourish successful
relationships and build powerful bonds between pets and people.
Creating unique and exclusive products
PETsMART has the industry’s broadest line of products for every stage of a pet’s life.
Our strength lies in creating innovative pet products, a capability that separates PETsMART
from any other retailer. In 1999, our corporate brand program generated many of these breakthroughs.
PETsMART Premier Oven-Baked® dog food is more nutritious and better tasting than other
premium brands because it is baked, rather than extruded and coated with fatty substances.
Launched in January 2000, Premier is selling extremely well, even without wide-scale advertising.
Another industry first is Shareables.Recognizing that people often share their food with pets,
PETsMART developed the Shareables line of snacks to be healthy and good tasting for both.
We believe Oops!, a plastic-backed paper towel for cleaning pet accidents, is another first-
®
of-its-kind product with strong cross-over appeal.
In 2000, we will build on the success of these products with new offerings such as “Toy
Shoppe”– a concept that brands our own line of toys and has significant customer appeal.
PETsMART offers each of these exclusive products and product lines at substantial value,
a proposition supported by our solid relationships with suppliers around the world,
cost-control initiatives and a double-the-difference price guarantee.
11. PS101 '99 Annual Report_opt v3 7/31/00 11:21 AM Page 9
Providing services and solutions
Our ability to participate in the bond between pets and people makes PETsMART different,
and nowhere is that difference more visible than in the professional services we offer.
Through partnerships with local humane organizations, we make pets available for adoption
in every PETsMART store, meaning the customer’s bond with PETsMART can begin the
moment a pet joins the family.
Pet training classes, from basic puppy to adult obedience, help pets stay in families and
out of shelters by teaching them appropriate behaviors. In 2000, we are taking bold steps
to strengthen and expand training, with the goal of becoming the industry leader.
PETsMART already is the nation’s largest provider of professional pet grooming, and we
continue to develop this piece of our business. This year, PETsMART signed an agreement
with the Nash and Paragon schools – the “Ivy League” of grooming – to provide training
for all our pet stylists, ensuring consistent quality and service at all PETsMART salons.
Through our unique partnership with Medical Management International (MMI), PETsMART
provides full-service veterinary care. MMI is an industry pioneer, applying standards for
“human” care to pets and managing pet care through wellness and insurance programs.
These high standards for quality, combined with convenient locations inside our stores,
increase the likelihood that pet owners will seek veterinary care and give PETsMART
another touch point with our customers.
Building customer loyalty
Relying on a single company to serve all the needs of a family member takes trust. PETsMART
is building that trust – and a large share of loyal customers – in a number of ways.
Most important, we are making substantial investments in our people. In July 1999, the
PETsMART Learning Institute opened its doors. This activity-based training program
gives associates the skills and expertise to forge positive relationships with customers, and
to become the source for information and advice. Our compensation system is built on
,
rewarding performance in this area.
.
Operationally, we made strides in attracting and keeping the best customers. Our
Universal Return Program, for example, allows consumers to return pet items purchased
from any retail store, catalog or Web site to PETsMART stores for a refund, store credit
or exchange. The policy brings luxury service to our value-based business, capitalizes on
the synergy of our “bricks and clicks” model and drives traffic and sales.
Going forward, we will develop programs that allow us to gain a detailed understanding
of our customers and build loyalty with offerings specifically targeted to their needs,
habits and patterns.
12. PS101 '99 Annual Report_opt v3 7/31/00 11:21 AM Page 10
Promoting responsible ownership
There are reasons PETsMART is so actively involved in saving the lives of homeless pets –
7 million of them. That is the estimated number of cats and dogs euthanized in the United States
each year, simply because they do not have homes.
When our founders began this business, they made the decision not to sell cats or dogs, but
to donate space in stores where local humane organizations could encourage thoughtful pet
adoption by our customers. That commitment remains at the heart of our business. To date,
the Luv-A-Pet adoption program has saved the lives of more than 700,000 homeless pets,
and we expect to reach the 1 million mark in early 2001.
PETsMART Charities also contributes to the cause. Since 1994, the non-profit group
has donated more than $10 million to animal welfare organizations. Much of that support
comes from PETsMART store associates, who actively encourage pet adoption, raise money
through in-store promotions and last year, contributed more than $500,000 through a
voluntary payroll deduction program. The funding not only supports pet adoption, but also
encourages spaying and neutering and educates people about responsible pet ownership.
At PETsMART, we are proud of the work we are doing to save lives and feel fortunate to be part
of a business with such power to create meaningful change in the lives of pets and their people.
We’re moving ahead
13. Directors and Officers
Directors Executive Officers
Norman E. Brinker Barbara A. Munder Philip L. Francis Marcia R. Meyer
Chairman of the Board Senior Vice President, Chairman, President and President, PETsMART
Brinker International New Initiatives Chief Executive Officer International Supply
The McGraw-Hill Companies Company
Thierry Defforey Robert F. Moran
Independent Fund Manager Walter J. Salmon President, Philip B. Murphy
Stanley Roth Senior Professor North American Stores Senior Vice President and
Lawrence A. Del Santo
of Retailing General Manager, Services
Retired President and Neil T. Watanabe
Harvard University
Chief Executive Officer Executive Vice President and Neil H. Stacey
Business School
Von’s Supermarket Chief Financial Officer Senior Vice President,
Companies, Inc. Thomas G. Stemberg Consumables Merchandising
Kenneth A. Banks
Chairman of the Board of
Jane Evans Senior Vice President, Timothy N. Troy
Directors and Chief
President and Chief Marketing, Branding and Senior Vice President,
Executive Officer
Executive Officer Advertising Logistics and Distribution
Staples, Inc.
Gamut Interactive Carol M. Cox Anthony N. Truesdale
Philip L. Francis Senior Vice President, Senior Vice President, Hard
Chairman, President and Human Resources Goods Merchandising
Chief Executive Officer Scott A. Crozier James T. Walsh
PETsMART, Inc. Senior Vice President and Senior Vice President,
Richard K. Lochridge General Counsel Store Operations
President and Chief David L. King
Executive Officer Senior Vice President and
Lochridge & Company, Inc. Chief Information Officer
Shareholder Information
Corporate Offices Independent Accountants Investor Information Line Annual Meeting
19601 North 27th Avenue Deloitte & Touche LLP 623-587-2025 The Annual Meeting of
Phoenix, AZ 85027 2901 North Central Avenue Stockholders of PETsMART,
PETsMART Common Stock
Suite 1200 Inc. will be held on June 22,
Transfer Agent and Registrar The company’s common stock
Phoenix, AZ 85012 2000, at 10:00 a.m. at the
Norwest Bank Minnesota, N.A. is traded on the NASDAQ Boston Marriott Longwharf,
161 North Concord Exchange Shareholder Inquiries National Market under the 296 State Street,
P.O. Box 738 Investor Relations symbol “PETM. ” Boston, MA 02109.
South St. Paul, MN 55075-0738 1212 Avenue of the Americas
www.stocktransfer@norwest.com 24th Floor
New York, NY 10036
Fax: 212-704-0917
E-mail: petsmart@mww.com
14. 19601 North 27th Avenue
Phoenix, AZ 85027
(623)580-6100
www.petsmart.com