PetSmart says it is considering putting itself up for sale after receiving pressure from investors.

The pet supply chain said Tuesday that 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 pushed PetSmart to think about a sale.

The company also says it plans to cut costs and is focusing on pet food, exclusive brands and services, online shoppers and a loyalty program.

The Phoenix-based company in May cut its earnings outlook for the year, citing a challenging consumer environment and competition.

PetSmart said Tuesday that its second-quarter earnings rose 5.1 percent to $98.1 million, or 98 cents per share, while revenue rose 1.4 percent to $1.73 billion. It left its guidance unchanged.