Bowing to pressure from investors, PetSmart Inc. is considering putting itself up for sale.
The pet supply chain, which has 14 stores in Utah, said Tuesday it will weigh "strategic alternatives" after a board review that included conversations with shareholders.
Investment firm Longview Asset Management and hedge fund Jana Partners have both called on PetSmart to sell itself, a move they say would benefit shareholders. Longview has about a 9 percent stake in PetSmart, while Jana holds nearly 10 percent, according to FactSet.
The company also said it plans to cut costs. It said it will provide more details next quarter and expects to realize the savings by the end of its next fiscal year.