SAN DIEGO, March 23 /PRNewswire/ -- PETCO Animal Supplies, Inc.
(Nasdaq: PETC) today announced the opening of its 500th store, located in
Denver, Colorado.  The store opening, one of 50 new locations planned for
fiscal 2000, continues PETCO's strategic expansion as the nation's leading pet
food and supplies brand with retail locations across the U.S.
    The 15,000 square foot superstore, which features the Company's latest
prototype layout, strengthens PETCO's presence in the Colorado market, where
it now operates a total of 11 locations.
    In recent years, PETCO has pursued an aggressive store opening program,
capitalizing on the success of its superstore format and reinforcing the
Company's national presence.  During fiscal 1999, PETCO opened 42 new
superstores, including 17 locations in the west, eight in the midwest and 17
in the east.  During fiscal 2000, the Company plans to open a total of 50 new
superstores and enter the Pittsburgh and Atlanta markets.  PETCO's entry into
Atlanta will mark the beginning of its penetration into the southeast, a
region offering excellent growth opportunities.
    "Opening our 500th superstore represents another step in PETCO's
successful growth as the leading retail destination for pet lovers," said
Brian K. Devine, Chairman, President and Chief Executive Officer.  "Colorado's
pet lovers make it an outstanding market for PETCO.  We look forward to this
new opportunity to serve our customers in the Denver area, with an
unparalleled selection of merchandise, pet knowledgeable and friendly service
in a convenient and enjoyable shopping environment."
    The success of PETCO's superstore format was a significant contributor to
the Company's outstanding performance in the fiscal year ended January 29,
2000.  PETCO generated record sales and earnings and achieved new milestones
in sales productivity per store in 1999.  Net sales reached a record
$990.3 million, up 18%, while comparable store sales rose a robust 11.1%.  Net
earnings, excluding Internet operations and equity in loss of unconsolidated
affiliates, and related tax effects, increased to $24.1 million, or $1.13 per
diluted share, a 54% increase over net earnings in the prior year, excluding
merger and business integration costs and other charges, and related tax
benefits, of $15.6 million, or $0.74 per diluted share.  Sales per square foot
for the year reached a record $168, up from $157 in 1998, while average sales
per store rose to a record $2.0 million.
    Certain statements in this news release that are not historical fact
constitute "forward-looking statements" within the meaning of Section 21E of
the Securities and Exchange Act of 1934 and the Private Securities Litigation
Reform Act of 1995.  Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results of
PETCO to be materially different from historical results or from any results
expressed or implied by such forward-looking statements.  These factors, such
as integration of operations as a result of acquisitions, competition,
reliance on vendors, product lines and exclusive distribution arrangements,
dependence on senior management and performance of new superstores, are
discussed under the caption "Certain Cautionary Statements" in PETCO's Annual
Report on Form 10-K for the year ended January 30, 1999.

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