SAN DIEGO-After opening its first of the new Pisces store formats in August, Petco Animal Supplies Inc. is accelerating the rollout's pace and expects to be operating 75 of the newly designed layouts by fiscal year end on Feb. 1. Officials from the 700-store Petco chain traveled to Philadelphia this week to provide earnings guidance for financial analysts and to show the analysts a video tour of the new stores, five more of which are due to be opened by Oct. 22.
The Pisces format is a new interior design that replaces the chain's conventional store layout with an aquatics section and a "racetrack" walkway that showcases all of the company's animal care and product departments. The circular aisle allows customers to move around the different sections of the store more easily and is designed makes the whole store visible from the front doors.
Petco has converted 11 of its stores to the Pisces format and will open five more of them in the coming week, bringing the total to 16 by Oct. 22, a company spokesperson says. Besides switching to the new format in its existing stores, it is also planning Pisces layouts at the 20 Kids 'R' Us sites that the company acquired in April from Office Depot. The Kids 'R' Us stores generally are larger than the typical Petco locations, running about 22,000 sf to 26,000 sf, compared with about 15,000 sf for a typical Petco. The first of the Pisces stores opened in Escondido and the rest have been spread throughout the country, which is how the rollout will continue, the company says.
Petco, which has been shifting its merchandise mix toward higher-margin pet supplies and services, in August reported higher earnings and comparable sales for the second quarter that ended July 31, and In Philadelphia this week, company officials said the chain expect to achieve gains of 5% to 6% in comparable store net sales for the third quarter that will end Oct. 30. Officials also forecast full-year earnings of $1.48 to $1.49 per share, which would be up more than 25% from the previous year.
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