Chewy's shares dropped 6% following a second analyst downgrade in two days, with JPMorgan lowering its rating to Neutral and cutting the price target to $24 due to ongoing macroeconomic pressures affecting organic growth. Despite strong company execution and market share gains, the pet retailer's stock has fallen 40% year-to-date. The sell-off is specific to Chewy, as peers Petco and Freshpet show mixed reactions, indicating the issue is company-specific rather than sector-wide. Investors will watch for Chewy CEO Sumit Singh's upcoming comments for further insight on the pet market outlook.
Chewy reported Q2 net sales growth of 7.3% year-over-year to $3.33 billion, with Autoship sales making up 84.6% of revenue, though growth is slowing. Gross margin benefited from a $15 million one-time boost, but adjusted margins declined year-over-ye...
Chewy reported Q2 results largely in line with expectations, with net sales up 7.3% to $3.33 billion and adjusted earnings matching forecasts at $0.36 per share. However, shares fell 10.8% due to concerns about slowing organic growth, cautious consum...
Chewy reported better-than-expected Q2 results driven by organic sales growth and an expanding customer base. The company is diversifying revenue by expanding into veterinary care clinics, reducing reliance on pet food and toy sales. Key performance ...
Chewy's stock fell 11% after reporting a free cash flow decline despite beating revenue estimates and raising its full-year outlook. The cash flow shortfall is linked to increased capital expenditures from acquisitions and integration costs, causing ...
Chewy reported quarterly earnings of $0.36 per share, doubling analyst estimates of $0.18, with net income rising to $80.5 million from $62 million a year ago. Quarterly revenue reached $3.33 billion, slightly above expectations, marking a 7.3% incre...
