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| PetSmart Inc. | PetSmart; NASDAQ; PETMhttp://www.sec.gov/Archives/edgar/data/863157/000086315714000040/petm-20140202x10k.htm10K SEC Analysis | | Salvador Galvez | 3/18/2015 |

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PetSmart Analysis
PetSmart was incorporated in Delaware in 1986 and opened its first store in 1987, their headquarters are currently located in Arizona. The fiscal year for PetSmart end on the Sunday closest to January 31. As of 2013 they have a total of 1,333 stores in the U.S, Canada and Puerto Rico. PetSmart has become a leader in providing pet products and services to pet owners in North America. A key strategy is to become the preferred provider for the lifetime of pet needs. The market for PetSmart has only grown over the year and it will continue to grow. The amount that customers spend on pet needs as of 2013 was $55.5billion dollars. 68% of household have pets that is roughly 82 million households that have pet needs. PetSmart outside auditors are Deloitte & Touche LLP and they are located in Phoenix, Az.

Inventories According to PetSmart 2014 10k in notes to consolidated financial statements (pg F8) inventory is recorded at their lowest cost of market and the cost is determined by a moving average. Inventory physical counts are preform on a regular basis and will be adjusted accordingly. PetSmart contains inventory reserves for obsolescence and to reduce inventory to the lower cost of market. Inventory is evaluated for excess, obsolescence, or any other reason that may affect the products historical cost. Factors that will affect inventory include current The inventory reserves for PetSmart on February 2, 2014 was valued at 12.7 million compared to 2013 at 11.8 million and increase in reserves of .9 million.

Accounting Receivables and bad debt PetSmart net receivables shown on the balance sheet (pg54/F3) for the latest year is 72,685(in

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