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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| CVS Health Corporation | NYSE:CVS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.81 | 1.47% | 55.96 | 56.43 | 54.96 | 55.22 | 23,942,832 | 01:00:00 |
From May 2019 to May 2024
By Josh Beckerman
PetSmart Inc. shareholder Jana Partners LLC, the hedge fund that has been pushing for a sale of the pet-goods retailer, said it is considering nominating five people to the company's board.
If it opts to run a proxy contest, Jana said it has hired five candidates who have agreed to put their names forward.
The candidates are Edwin Crawford, the previous chairman of CVS Caremark Corp.; Julian Day, the former chairman and CEO of RadioShack Corp.; Thomas Dickson, who most recently led Harris Teeter Supermarkets Inc.; Susan Feldman, the co-founder of an online home-goods shopping site; and Lawrence V. Jackson, a former executive at Wal-Mart Stores Inc.
PetSmart, meanwhile, began exploring a sale this summer amid pressure to do so from shareholders, including Longview Asset Management LLC and Jana. The Wall Street Journal reported earlier this month that a handful of private-equity firms have been invited to the final round of bidding for the company, citing people familiar with the matter. The company's market capitalization is about $7.76 billion.
PetSmart reported Tuesday that its third-quarter profit edged down as the company reported higher costs that offset a 3% sales increase. PetSmart has announced a plan to cut costs by $200 million a year by 2016. The company expects same-store sales growth will be slightly positive in the fourth quarter, projecting a low-single-digit increase for fiscal 2015.
Its annual meeting is expected to take place in June, Jana said. The firm owns a stake of about 9.8%.
PetSmart shares were up one cent to $78.14 in late trading.
Write to Josh Beckerman at josh.beckerman@wsj.com
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