Chewy's stock fell 6% due to lower Q4 sales growth, lower profit margins, and fewer active shoppers.
Chewy's stock fell 6% on Thursday following Q4 earnings that showed slower sales growth, lower profit margins, and a drop in active shoppers. Despite the challenges, the e-commerce pet supply retailer remains profitable, cash-flow positive, and anticipates growth in pet healthcare and the Canadian market. The company's management is optimistic about long-term growth initiatives but warns that the next year will be challenging due to reduced inflation-driven price increases and lower pet adoption rates.
March 21, 2024
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