CHWY - Chewy's Biggest Challenge Isn't Raising Prices. 1 Metric Investors Need to Watch.
2024-03-30 07:15:00 ET
People are paying more for their pet supplies these days. In late March, Chewy (NYSE: CHWY) announced record average annual spending as part of its fiscal fourth-quarter earnings update. Gains here allowed the e-commerce specialist to offset weaknesses in other areas of the business so sales could rise 10% in 2023.
Yet the stock's drop in recent months shows how Wall Street is more concerned with Chewy's weakening growth prospects. These are best reflected in changes to its active customer pool, which is a trend that investors will want to watch when considering whether to buy this stock on the dip.
Let's take a closer look.
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Chewy's Biggest Challenge Isn't Raising Prices. 1 Metric Investors Need to Watch.