Company Analysis of Petsmart Corporation Part 1- Overview, History and Current Structure Petsmart, established in 1986, operates 1145 stores devoted to pet supplies throughout the USA and Canada, making it “the largest specialty retailer of services and solutions for the lifetime needs of pets. ” (Petsmart, 2009) It is publicly traded under the abbreviation PETM. Petsmart offers pet training and adoption in all stores, and dog and cat boarding in select stores. Petsmart Charities is an independent 501c3 non-profit affiliated with the Petsmart stores.
Founders Jim and Janice Dougherty took a capital loan from Phillips Van Heusen Corporation, incorporating Pacfiic Coast Distributing in 1986.
The first two stores were opened in Arizona under the name PetFood Warehouse. By 1988 there were seven stores, and the philosophy of contributing to the cause of animal welfare, and fostering pet adoption through charities and rescue, was present in each store. One year later, changing the name to PetSmart, the stores expanded to sell fish, as well as birds and small pets.
The concept of a full service pet store became a reality upon opening their first full-service dog saloon as well as offering photos with Santa, which benefitted charities. In 1990 the corporation name was officially changed, and veterinarians were asked to come to the store in mobile clinics to provide vet care for customers. In only six years, there were 50 stores open. In 1993, PetSmart corporation became publicly traded for $125 million dollars. In 1994, PetSmart charities was incorporated, to continue fostering the founder’s appreciation for animal welfare.
PetSmart corporation actively buys regional competitors. Ten years after opening, PetSmart continues to expand, this time overseas to the Canada, England, Scotland, Wales and Northern Ireland. The company quickly learns and rebounds from financial trouble in 1997. By 2000, the company is in full rebound and doing very well again, continuing to expand the number of stores while editing and fine-tuning the vision statement. Fo example, in 2004 total sales jumped by 25%.
In 2006, services expand by 26%, contributing to a spectacular 23 consecutive fiscal quarters that the services part of our business experiences growth of 20 percent or more. The leader’s dedication to providing a full service store with affordable prices and top notch service is paying off, literally. PetSmart is lead by a group of eleven board members, ten of which are independent. The company’s management team is clearly described on their website, which includes biographies and pictures of the management team posing with their pets.
The management team consists of an executive Chairman, President/Chief Executive Officer, Senior Vice President/Chief Information Officer, Senior Vice President, Senior Vice President/Services and Store Operations and Human Resources, Senior Vice President/Chief Marketing Officer, Senior Vice President/ Chief Financial Officer, Senior Vice President of Supply Chain and Merchandising, Senior Vice President of Real Estate, and Senior Vice President, Human Resources. (Petsmart, 2009) REFERENCES Company Information. Retrieved September 3, 2009, from http://phx. corporate-ir. net/phoenix. zhtml? c=93506&p=irol-homeprofile.
Cite this Intro to Company Analysis of Petsmart
Intro to Company Analysis of Petsmart. (2018, Jan 29). Retrieved from https://graduateway.com/intro-to-company-analysis-of-petsmart/