Exhibit 99.1

CONTACT:
PetSmart Investor Relations
(623) 587-2025

PetSmart Reports Results for the Second Quarter 2011
Q2 Earnings up 32% to $0.54 per Share; Comp Sales of 5.0%; Total Sales up 7.0%; Comp
Transactions of 2.0%

PHOENIX, AZ—(August 17, 2011) — PetSmart, Inc. (NASDAQ: PETM) today reported earnings of $0.54 per share, up 32% compared to $0.41 per share in the second quarter of 2010. Net income totaled $61 million in the second quarter of 2011, compared to $48 million in the second quarter of 2010.

Total sales for the second quarter of 2011 increased 7.0% to $1.5 billion. The increase in net sales was partially impacted by $6 million in favorable foreign currency fluctuations. Comparable store sales, or sales in stores open at least a year, grew 5.0%, benefitting from comparable transactions growth of 2.0%. Services sales, which are included in total sales, grew 7.6% to $178 million.

During the second quarter, the company generated $109 million in operating cash flow, spent $20 million in capital expenditures, distributed $14 million in dividends, and repurchased $63 million of PetSmart stock. The Company ended the quarter with $321 million in cash, cash equivalents and restricted cash and zero borrowings on its credit facility.

“The strength of our brand was evident with another quarter of solid performance,” said Bob Moran, Chief Executive Officer and President, “and validates the work that we are doing on our journey to becoming a best-in-class specialty retailer.”

“For all of 2011, we expect comparable store sales growth in the low- to mid-single digit range, and total sales growth in the mid-single digit range. We are raising our earnings per share guidance from a previous range of $2.32 to $2.42 to our current expectations of $2.40 to $2.48,” said Chip Molloy, Senior Vice President and Chief Financial Officer. “For the third quarter of 2011, we are expecting comparable store sales growth in the 3-4% range, and earnings per share between $0.41 and $0.45.”

Conference call information

PetSmart management has scheduled a teleconference for 4:30 p.m. EDT on August 17, 2011 to discuss results for the second quarter 2011. 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 third quarter of 2011. In addition, you can listen to the call live by dialing 866-802-4290 (within the United States and Canada) or 703-639-1316 (for international callers), code 1543612.

A phone replay will be available through September 17, 2011, 11:59 p.m. EDT, at 888-266-2081 in the United States and Canada, or at 703-925-2533 for international callers, code 1543612.

About PetSmart

PetSmart, Inc. (NASDAQ: PETM) is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. The company employs approximately 48,000 associates and operates more than 1,197 pet stores in the United States, Canada and Puerto Rico, over 185 in-store PetSmart^® PetsHotel^® dog and cat 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 dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp^sm 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 $134 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 4.5 million pets.

Forward-looking statements

This news release contains forward-looking statements concerning our expectations for future performance, including the statements comprising our 2011 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)

		July 31,				January 30,				August 1,
		2011				2011				2010
Assets
Cash and cash equivalents		$	259,180			$	291,949			$	239,413
Short-term investments			11,833				9,708				—
Restricted cash			61,439				61,439				46,515
Receivables, net			63,991				53,971				54,042
Merchandise inventories			638,294				615,841				622,483
Deferred income taxes			44,999				44,999				36,805
Prepaid expenses and other current assets			84,177				46,022				92,585
Total current assets			1,163,913				1,123,929				1,091,843
Property and equipment, net			1,072,269				1,132,435				1,158,509
Equity investment in Banfield			32,256				42,858				36,043
Deferred income taxes			92,198				96,215				87,561
Goodwill			45,428				44,111				43,323
Other noncurrent assets			37,553				30,672				26,566
Total assets		$	2,443,617			$	2,470,220			$	2,443,845
Liabilities and Stockholders’ Equity
Accounts payable and bank overdraft		$	189,959			$	168,776			$	198,093
Accrued payroll, bonus and employee benefits			123,557				139,359				107,203
Accrued occupancy expenses and deferred rents			65,704				64,328				62,046
Current maturities of capital lease obligations			49,362				45,277				41,147
Other current liabilities			142,081				156,065				128,807
Total current liabilities			570,663				573,805				537,296
Capital lease obligations			514,724				521,552				534,928
Deferred rents			83,675				86,027				88,279
Other noncurrent liabilities			118,620				118,194				105,223
Total liabilities			1,287,682				1,299,578				1,265,726
Stockholders’ Equity:
Preferred stock; $.0001 par value			—				—				—
Common stock; $.0001 par value			16				16				16
Additional paid-in capital			1,268,297				1,222,340				1,181,647
Retained earnings			1,379,937				1,277,803				1,171,039
Accumulated other comprehensive income			7,964				5,380				4,091
Less: Treasury stock			(1,500,279	)			(1,334,897	)			(1,178,674	)
Total stockholders’ equity			1,155,935				1,170,642				1,178,119
Total liabilities and stockholders’ equity		$	2,443,617			$	2,470,220			$	2,443,845

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

		Thirteen Weeks Ended								Thirteen Weeks Ended								Twenty-Six Weeks Ended								Twenty-Six Weeks Ended
		July 31, 2011				% of Sales				August 1, 2010				% of Sales				July 31, 2011				% of Sales				August 1, 2010				% of Sales
Merchandise sales		$	1,300,473				87.4	%		$	1,216,682				87.5	%		$	2,614,822				87.8	%		$	2,450,277				88.0	%
Services sales			177,945				12.0	%			165,305				11.9	%			345,041				11.6	%			318,592				11.4	%
Other revenue			9,135				0.6	%			8,553				0.6	%			18,056				0.6	%			16,824				0.6	%
Net sales			1,487,553				100.0	%			1,390,540				100.0	%			2,977,919				100.0	%			2,785,693				100.0	%
Cost of merchandise sales			916,736				61.6	%			869,226				62.5	%			1,836,212				61.7	%			1,739,068				62.4	%
Cost of services sales			124,698				8.4	%			116,466				8.4	%			245,252				8.2	%			229,214				8.2	%
Cost of other revenue			9,135				0.6	%			8,553				0.6	%			18,056				0.6	%			16,824				0.6	%
Total cost of sales			1,050,569				70.6	%			994,245				71.5	%			2,099,520				70.5	%			1,985,106				71.3	%
Gross profit			436,984				29.4	%			396,295				28.5	%			878,399				29.5	%			800,587				28.7	%
Operating, general and administrative expenses			326,708				22.0	%			304,288				21.9	%			646,440				21.7	%			605,319				21.7	%
Operating income			110,276				7.4	%			92,007				6.6	%			231,959				7.8	%			195,268				7.0	%
Interest expense, net			(14,255	)			-1.0	%			(14,590	)			-1.0	%			(28,702	)			-1.0	%			(29,933	)			-1.1	%
Income before income tax expense and equity in income from Banfield			96,021				6.5	%			77,417				5.6	%			203,257				6.8	%			165,335				5.9	%
Income tax expense			(37,624	)			-2.5	%			(31,150	)			-2.2	%			(76,530	)			-2.6	%			(64,914	)			-2.3	%
Equity in income from Banfield			2,783				0.2	%			2,119				0.2	%			5,358				0.2	%			3,557				0.1	%
Net income		$	61,180				4.1	%		$	48,386				3.5	%		$	132,085				4.4	%		$	103,978				3.7	%
Earnings per common share:
Basic		$	0.54							$	0.41							$	1.17							$	0.88
Diluted		$	0.54							$	0.41							$	1.15							$	0.87
Weighted average shares outstanding:
Basic			112,396								117,079								112,972								117,528
Diluted			114,341								119,423								115,039								119,917
Stores open at beginning of each period			1,192								1,160								1,187								1,149
Stores opened during each period			8								5								13								19
Stores closed during each period			(3	)							(1	)							(3	)							(4	)
Stores open at end of each period			1,197								1,164								1,197								1,164