PetSmart Updates Estimated Fourth Quarter 2007 Results

PHOENIX, AZ, Jan 22 (MARKET WIRE) --
PetSmart, Inc. (NASDAQ: PETM) announced today that it now expects comparable
store sales growth between 0.0% and 1.0% for the fourth quarter of its 2007
fiscal year. PetSmart's earnings per share projection is now $0.57 to $0.61 per
diluted share for the fourth quarter, which includes an estimated benefit of
$0.07
per share for a 53rd week of sales. The revised forecast compares with the
company's previous estimates of diluted earnings per share of $0.70 to $0.74 in
the
fourth quarter, which included an estimate of $0.08 per share for a 53rd week of
sales.

"We experienced relatively weak sales during the later half of November
andthe majority of December in what we believe was a challenging consumer
environment," said Philip L. Francis, PetSmart chairman and CEO. "We are
encouraged by slight improvements during the last week of December and first
part of January; however, it is unlikely those improvements are significant
enough for us to achieve our previously announced EPS estimates."

The company will announce its fourth quarter and 2007 earnings on March 5,
2008.

About PetSmart

PetSmart, Inc. is the largest specialty pet retailer of services and
solutions for the lifetime needs of pets. The company operates more than 993
pet stores in the United States and Canada, a growing number of in-store
PetSmart PetsHotel(R) cat and dog boarding facilities, and is a leading
online provider of pet supplies and pet care information (www.petsmart.com).
PetSmart
provides a broad range of competitively priced pet food and pet products; and
offers complete pet training, pet grooming, pet boarding, doggie day camp and
pet
adoption services. Since 1994, PetSmart Charities, Inc., an independent
501(c)(3) non-profit animal welfare organization, has donated more than $52
million to animal welfare programs and, through its in-store pet adoption
programs, has saved the lives of more than 3 million pets.

Forward-looking statements

This news release contains forward-looking statements including statements
relating
to future revenue growth and goals, our expectations regarding the fourth
quarter of our 2007 fiscal year and future business opportunities that involve
substantial risks and uncertainties. Such risks and uncertainties include,
but are not limited to, general economic conditions, competitive forces, and our
ability to manage our operations and growth. Actual results and developments may
therefore differ materially from those described in this release. For more
information about PetSmart, Inc., and risks arising when investing in
PetSmart, Inc., you are directed to the company's most recent Annual Report
on Form 10-K filed with the Securities and Exchange Commission.

CONTACT:

Tawni Adams
(623) 587-2686

PetSmart Media Line
(623) 587-2177

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