PetSmart on topic
PetSmart is a privately held American chain of pet superstores, which sell pet products, services, and small pets. It is the leading North American pet company, and its direct competitor is Petco. Its indirect competitors are Amazon, Walmart, and Target. As of 2020, PetSmart has more than 1,650 stores in the United States, Canada, and Puerto Rico. Its stores sell pet food, pet supplies, pet accessories, and small pets. Stores also provide services including grooming, dog daycare, dog and cat boarding, veterinary care via in-store third-party clinics, and dog training. They also offer dog and cat adoption via in-store adoption centers facilitated by the nonprofit PetSmart Charities. Founded in 1986 by Jim and Janice Dougherty, the company opened its first two stores in 1987 in Phoenix, Arizona under the name PetFood Warehouse, as warehouse-type stores that sold pet food in bulk at discount prices. Under new leadership the company changed its name to PETsMART in 1989 and, along with expanding around the country, began a longterm shift away from visually unappealing discount warehouse stores to attractive stores that sold pet food and supplies and offered services such as grooming, adoption events, and vet visits. The company went public via an IPO in 1993, and thereafter increased its nationwide expansion and the types of goods and services it offered. After opening nearly 300 stores in the U.S., in 1996 the company expanded to Canada. It also bought and renamed a pet-store chain in the UK, but the over-priced purchase was a failure financially and operationally, and PETsMART sold the UK chain at a substantial loss to another pet-store company in the UK in late 1999. The failed UK expansion brought a loss in profitability and a low point for PETsMART stock in 2000. The company's third CEO, Phil Francis, retooled the company by emphasizing employee training and customer service, overhauling operations and systems, redesigning stores for visual appeal, and marketing PETsMART as a one-stop shop for pet products and services. By 2002 the company had fully integrated its in-store, online, and catalog sales. Francis also led the opening of an average of 100 new stores per year from 2002 through 2009. In 2005 the company changed its name to PetSmart and refocused its branding on "pet parents" who considered their pets part of their families. Differentiating itself by emphasizing its channel-exclusive brands and its in-store services such as grooming, dog training, day care and boarding, veterinary care, and adoption centers, the company nonetheless experienced encroaching competition from big-box stores and online e-tailers. The company was acquired by a private equity consortium led by BC Partners in March 2015. In May 2017 PetSmart purchased the online pet-products e-tailer Chewy as a largely independent subsidiary. Chewy went public in an IPO in June 2019; it remains an independent subsidiary of PetSmart, and PetSmart is its majority owner.Get all relevant Petsmart videos
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