Pros
PetSmart has (traditionally) had a great culture of "C.A.R.E" between employees, and (traditionally) no micro-management. It offers a great variety of career path options, and (traditionally) has worked with employees to map their career moves, a great benefit. About a year ago, I would have left a 4-star review across the board. There was a family atmosphere in the business, and as someone who joined PetSmart with no expectations, I mean that in a positive way.
Cons
New leadership is instituting their new strategy hard, and fast. I believe it will pay off - in several years. However, in many cases, the growing pains are too much for the existing employees and resources. Because layoffs also occurred recently, there is a major strain on retained employees. Because mid-level management is afraid of new leadership, associate feedback seems unheard. Net result = massive turnover right now. Approach with caution through 2015/2016 unless you have the ability to accept high pressure with minimal support for the next year.