Chewy 2Q Profit, Revenue Rise as Customer Base Continues to Grow

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Chewy's profit and revenue rose in the latest quarter as it continued to grow its active customer base.

The online pet-supplies retailer on Wednesday posted a second-quarter profit of $80.5 million, or 20 cents a share, compared with $62 million, or 14 cents a share, a year earlier.

Adjusted earnings per share were 36 cents, in line with analyst estimates, according to FactSet.

Revenue increased 7.3% year over year to $3.33 billion, compared with analyst estimates of $3.32 billion.

Active customers rose 3.8% from a year ago to 21.7 million, while net sales per active customer ticked up 1.9%.

The company also bumped up its full-year guidance, forecasting net sales of $13.46 billion to $13.57 billion, compared with its prior range of $13.4 billion to $13.55 billion.

For the current third quarter, Chewy expects sales of $3.32 billion to $3.36 billion. Analysts were looking for sales of $3.33 billion.

 
 

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