Chewy's Q4 update showed 10% sales growth in 2023, but a stock drop due to concerns over weakening customer growth.
Chewy's Q4 update revealed a record average annual spending, driving the e-commerce specialist's sales to rise 10% in 2023. However, the stock's drop highlights Wall Street's concerns over Chewy's weakening growth prospects, mainly seen through changes in its active customer pool. Despite a 76% subscription-like delivery service contribution to sales, investors should watch customer growth trends when considering stock purchases.
March 30, 2024
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