CHWY - Chewy Stock Comes to Life After Earnings
2024-05-31 16:47:31 ET
Shares of online pet food retailer Chewy (NYSE: CHWY) jumped as much as 31.4% this week after reporting quarterly earnings, according to data provided by S&P Global Market Intelligence . At 3:30 p.m. ET, shares were still up 27.2% for the week and holding strong.
Sales were only up 3.1% in the quarter to $2.88 billion, but net income more than tripled from a year ago to $67.3 million, or $0.15 per share. Management said gross margins improved 130 basis points to 29.7%, and net margin jumped 150 basis points to 2.3%.
Chewy's growth has leveled off, but margins have improved rapidly over the last five years, and the company is now reporting consistent, increasing profits.
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Chewy Stock Comes to Life After Earnings