Shares of online pet retailer Chewy are experiencing modest selling pressure due to disappointing quarterly earnings. The company provided upbeat guidance for the full year, but this was overshadowed by a softer-than-expected profit for the third quarter. Additionally, Chewy’s active customer base declined. Despite an 8.7% increase in autoship sales, which is a key revenue driver, the overall stock performance has taken a hit. The mixed results may lead investors to reassess their expectations for the company’s growth prospects.
Source: https://seekingalpha.com/news/4362542-chewys-profit-miss-fewer-active-customers-upstages-fy-24-outlook