CHWY - Pet Supply-Focused Chewy Shares Gain On Better-Than-Anticipated Q1 Earnings $500M Buyback Plan | Benzinga
Chewy Inc (NYSE:CHWY) shares gained on Wednesday after the e-commerce retailer for pet supplies reported better-than-expected first-quarter 2024 results.
The pet care company reported adjusted EPS of $0.31 compared to the consensus of $0.07 and $0.20 a year ago.
The company reported sales of $2.88 billion, up 3.1% Y/Y, marginally above the consensus of $2.85 billion.
“Fiscal year 2024 is off to a solid start. We delivered strong net sales as well as record-breaking Adjusted EBITDA in the first quarter,” said Sumit Singh, Chief Executive Officer of Chewy. “Chewy’s value proposition continues to resonate with our customers, and I am proud of the teams at Chewy who are executing flawlessly on our strategic roadmap and the controllable elements of our business.”
Autoship customer sales reached $2.23 billion, up 6.4%. Autoship customers are customers in a given fiscal quarter for whom an order has shipped through Autoship subscription program during the preceding 364-day period.
Net ...