Exhibit 99.1

CONTACT:
PetSmart Investor Relations
(623) 587-2025

PetSmart Reports Results for the Third Quarter 2010

Q3 Earnings up 23% to $0.38 per Share; Comp Sales of 5.6%; Total Sales of 7.2%; Comp Transactions of 3.6%; Raising
2010 Annual EPS Guidance

PHOENIX, AZ—(November 17, 2010) — PetSmart, Inc. (NASDAQ: PETM) today reported earnings of $0.38 per share, up 23% compared to $0.31 per share in the third quarter of 2009. Net income totaled $45.6 million in the third quarter of 2010, compared to $38.1 million in the third quarter of 2009.

Total sales for the third quarter of 2010 increased 7.2% to $1.4 billion. The increase in net sales was partially impacted by $3.1 million in favorable foreign currency fluctuations. Comparable store sales, or sales in stores open at least a year, grew 5.6% in the third quarter, benefiting from comparable transactions growth of 3.6%. Services sales, which are included in total sales, grew 8.5% to $148 million.

“We are pleased to report another quarter of solid earnings growth,” said Bob Moran, Chief Executive Officer and President. “During the quarter, our performance remained strong as we continued to execute on our strategic priorities by providing innovative and differentiated products, services and solutions for our pet parents.”

“For the full year, we are raising our comparable store sales expectations to mid-single digits, and we are raising our earnings per share guidance from a previous range of $1.91 to $1.99 to our current expectations of $1.96 to $2.00,” said Chip Molloy, Senior Vice President and Chief Financial Officer. “For the fourth quarter, we expect comparable store sales of mid-single digits, and earnings per share of $0.71 to $0.75.”

During the third quarter, the company purchased $56 million of PetSmart stock and distributed $15 million in dividend payments.

Conference call information

PetSmart management has scheduled a teleconference for 4:30 p.m. EST today to discuss results for the third quarter 2010. This teleconference will be webcast live for all investors at www.petm.com or www.streetevents.com. The webcast will be available until the company announces results for the fourth quarter of 2010. In addition, you can listen to the call live by dialing (866) 793-1342 (within the United States and Canada) or (703) 639-1313 (for international callers), code 1493622.

A phone replay will be available through December 17, 2010, 11:59 p.m. EST, at (888) 266-2081 in the United States and Canada, or at (703) 925-2533 for international callers, code 1493622.

About PetSmart

PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. The company employs approximately 47,000 associates and operates more than 1,172 pet stores in the United States and Canada, 172 in-store PetSmart PetsHotel® cat and dog boarding facilities, and is a leading online provider of pet supplies and pet care information (http://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, PetSmart® Doggie Day Camp^SM pet day care services and pet adoption services. Since 1994, PetSmart Charities, Inc., an independent 501(c)(3) non-profit animal welfare organization and the largest funder of animal welfare efforts in North America, has provided more than $110 million in grants and programs benefiting animal welfare organizations. Through its in-store pet adoption partnership with PetSmart Charities®, PetSmart has helped save the lives of more than 4 million pets.

Forward-looking statements

This news release contains forward-looking statements concerning our expectations for future performance, including the statements comprising our 2010 guidance. These “forward-looking statements” are based on currently available information, operating plans and projections about future events and trends. They inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward-looking statements. Such risks and uncertainties include, but are not limited to: changes in general economic conditions; conditions affecting customer transactions and average ticket including, but not limited to, weather conditions or other seasonal events; our ability to compete effectively; disruption of our supply chain; our ability to effectively manage our growth and operations; changes in our cost structure; and changes in the legal or regulatory environment. Undue reliance should not be placed on such forward-looking statements as they speak only as of the date hereof, and we undertake no obligation to update these statements to reflect subsequent events or circumstances except as may be required by law. For additional information on these and other factors that arise when investing in PetSmart, please see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K.

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PetSmart, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except par value)
(Unaudited)

		October 31,				January 31,				November 1,
		2010				2010				2009
Assets
Cash and cash equivalents		$	235,407			$	308,360			$	185,215
Restricted cash			46,515				48,172				55,250
Receivables, net			43,108				52,232				52,144
Merchandise inventories			687,825				563,389				608,274
Deferred income taxes			36,805				36,805				29,333
Prepaid expenses and other current assets			91,822				57,652				88,126
Total current assets			1,141,482				1,066,610				1,018,342
Property and equipment, net			1,150,286				1,201,857				1,225,116
Equity investment in investee			38,691				32,486				30,865
Deferred income taxes			86,199				94,901				83,631
Goodwill			43,555				42,200				41,882
Other noncurrent assets			29,140				23,932				24,192
Total assets		$	2,489,353			$	2,461,986			$	2,424,028
Liabilities and Stockholders’ Equity
Accounts payable and bank overdraft		$	201,564			$	212,121			$	179,709
Accrued payroll, bonus and employee benefits			125,563				105,162				103,526
Accrued occupancy expenses and deferred rents			67,606				63,142				65,495
Current maturities of capital lease obligations			43,503				37,839				36,151
Other current liabilities			155,655				146,965				126,745
Total current liabilities			593,891				565,229				511,626
Capital lease obligations			528,270				533,635				545,226
Deferred rents			87,479				91,030				91,695
Other noncurrent liabilities			107,078				99,377				97,225
Total liabilities			1,316,718				1,289,271				1,245,772
Stockholders’ Equity:
Preferred stock; $.0001 par value			—				—				—
Common stock; $.0001 par value			16				16				16
Additional paid-in capital			1,201,158				1,148,228				1,137,132
Retained earnings			1,201,957				1,093,708				1,030,753
Accumulated other comprehensive income			4,478				2,369				2,053
Less: Treasury stock			(1,234,974	)			(1,071,606	)			(991,698	)
Total stockholders’ equity			1,172,635				1,172,715				1,178,256
Total liabilities and stockholders’ equity		$	2,489,353			$	2,461,986			$	2,424,028

PetSmart, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(in thousands, except per share and store data)
(Unaudited)

		Thirteen Weeks Ended								Thirteen Weeks Ended								Thirty-Nine Weeks Ended								Thirty-Nine Weeks Ended
		October 31, 2010				% of Sales				November 1, 2009				% of Sales				October 31, 2010				% of Sales				November 1, 2009				% of Sales
Merchandise sales		$	1,230,911				88.7	%		$	1,157,647				89.4	%		$	3,681,188				88.2	%		$	3,496,995				89.0	%
Services sales			148,282				10.7	%			136,703				10.6	%			466,874				11.2	%			433,714				11.0	%
Other revenue			8,877				0.6	%			—				0.0	%			25,701				0.6	%			—				0.0	%
Net sales			1,388,070				100.0	%			1,294,350				100.0	%			4,173,763				100.0	%			3,930,709				100.0	%
Cost of merchandise sales			880,556				63.4	%			837,875				64.7	%			2,619,624				62.8	%			2,516,378				64.0	%
Cost of services sales			109,652				7.9	%			100,299				7.7	%			338,866				8.1	%			311,491				7.9	%
Cost of other revenue			8,877				0.6	%			—				0.0	%			25,701				0.6	%			—				0.0	%
Total cost of sales			999,085				72.0	%			938,174				72.5	%			2,984,191				71.5	%			2,827,869				71.9	%
Gross profit			388,985				28.0	%			356,176				27.5	%			1,189,572				28.5	%			1,102,840				28.1	%
Operating, general and administrative expenses			305,345				22.0	%			284,896				22.0	%			910,664				21.8	%			867,902				22.1	%
Operating income			83,640				6.0	%			71,280				5.5	%			278,908				6.7	%			234,938				6.0	%
Interest expense, net			(14,289	)			-1.0	%			(15,031	)			-1.2	%			(44,222	)			-1.1	%			(44,975	)			-1.1	%
Income before income tax expense and equity in income from investee			69,351				5.0	%			56,249				4.3	%			234,686				5.6	%			189,963				4.8	%
Income tax expense			(26,386	)			-1.9	%			(20,453	)			-1.6	%			(91,300	)			-2.2	%			(71,594	)			-1.8	%
Equity in income from investee			2,648				0.2	%			2,274				0.2	%			6,205				0.1	%			4,927				0.1	%
Net income		$	45,613				3.3	%		$	38,070				2.9	%		$	149,591				3.6	%		$	123,296				3.1	%
Earnings per common share:
Basic		$	0.39							$	0.31							$	1.27							$	1.00
Diluted		$	0.38							$	0.31							$	1.25							$	0.98
Weighted average shares outstanding:
Basic			116,943								121,661								117,333								123,163
Diluted			119,360								123,781								119,771								125,396
Stores open at beginning of each period			1,164								1,145								1,149								1,112
Stores opened during each period			10								7								29								43
Stores closed during each period			(2	)							(3	)							(6	)							(6	)
Stores open at end of each period			1,172								1,149								1,172								1,149