PetSmart sees sales, profits rise in 1Q

PetSmart Inc. saw its profits rise 33 percent in the first quarter as the company continued to see strong sales for its products and services. Phoenix-based PetSmart (Nasdaq: PETM) reported income of $94.7 million for the first quarter that ended April 29, or 85 cents per share, compared to the $70.9 million it made in the first quarter of 2011. The company also reported sales of $1.63 billion for the quarter, compared to $1.49 billion for the same quarter last year. “We are pleased to report...