PetSmart, Inc. (PETM) is distinguishing itself in the pet retail marketplace with new product introductions and partnerships with Martha Stewart, Bret Michaels and Disney, and is expected to continue partnership activity in the future, says Daniel Binder, Managing Director and Senior Equity Research Analyst at Jefferies & Company, Inc.
“PetSmart has done a lot in recent years to differentiate itself in the marketplace, and that has included a lot of reset activity and new product introductions. There have been new product introductions in vitamins, and hardlines with Martha Stewart, and pet toys under the Bret Michaels name and so forth,” Binder said.
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PETM has also recently announced a new Disney relationship, offering Disney pet apparel and toys. Binder believes the company will continue to form new partnerships in the future, further distinguishing itself in the market with a focus on the more affluent customer.
“They did announce this Disney (DIS) relationship, which is new, and I suspect there will be more to come on the partnership front. In summary, they’ve done a great job of distinguishing themselves in the marketplace with great products and partnerships,” Binder said.
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