PetSmart: Never Mind the Earnings, It’s All About the Buyout

PetSmart (PETM) reported earnings yesterday but they’re almost immaterial as reports that two private-equity firms are interested in taking the pet-products retailer private. AP Images Yesterday, PetSmart said it had earned $1.02 a share not including one-time items during the quarter ended Nov. 2, beating forecasts for 94 cents. PetSmart also said it would earn [...]