Chewy Inc., a leading retailer of pet supplies, reported strong third-quarter results on Wednesday, beating expectations for both sales and adjusted EPS. The company’s net sales increased by 4.2% to $567 per active customer, driven by growth in its Autoship customer base.
For the full year, Chewy expects sales of $11.79 billion, with an adjusted EBITDA margin guidance of 4.6-4.8%. The company also raised its fourth-quarter 2024 sales guidance to $3.18 billion-$3.20 billion.
Chewy’s CEO Sumit Singh said the company delivered strong results, exceeding its net sales guidance range and increasing active customers sequentially. However, the stock price slid 9.64% after the announcement. Despite this, Chewy remains optimistic about its future growth prospects.
Source: https://www.benzinga.com/24/12/42316772/pet-supplies-retailer-chewy-says-q3-results-builds-on-positive-momentum-observed-in-q2-raises-annual-guidance