Tuesday, May 17, 2022

Chewy Inc. (CHWY) stock dropped during after-hours, following its financial earnings

Chewy Inc. (NASDAQ: CHWY) stock plunged by 6.32% at last close as well as the stock price fell in the after-hours trading by 8.10%. The company’s goal is to be the most dependable and handy resource for pet parents (and partners) all around the world. They feel that their comprehensive assortment of high-quality products, which they provide at low prices and offer with an extraordinary standard of treatment and a personal touch, makes them the foremost provider for pet products, supplies, and prescriptions.


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CHWY stock’ Financial Updates

Chewy reported its financial results for the third quarter of 2021. The summary is stated below:

  • For the third quarter of 2021, net sales were $2.21 billion which is an increase of 24.1% y-o-y.
  • Gross margin calculated for Q3 2021 was 26.4%, increasing of 90 basis points compared to the previous year.
  • Year over year, the net margin of (1.5%) increased by 30 basis points in the third quarter of 2021.
  • Adjusted EBITDA generated was $6.0 million for the third quarter of 2021, up 9.9% from the previous year.
  • The adjusted EBITDA margin remained unchanged year over year at 0.3 percent.

Official Remarks


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While talking about financial results Sumit Singh, CEO of Chewy stated that During the third quarter, demand and customer interaction remained robust, with net sales growing 24% year over year, or 86 percent on a two-year stack basis. The company’s year-over-year increase demonstrates the strength of its growth plan, the distinctiveness of Chewy’s value proposition, and the pet category’s long-term viability. At the very same time, the effect of persistent supply chain disruptions, labor shortages, and rising inflation is reflected in their third-quarter profitability. While they work through these macro challenges, they are committed to a sustainable future and to establishing a long-lasting business that will benefit millions of loyal dogs, pet parents, and partners.

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