Chewy's Turning Tide: Financial Report Could Signal a Recovery
Monday, 4 March 2024, 15:30
Chewy's Tough Times
Net Sales and Active Customers Decline:
- Net sales only rose 8% in the last quarter.
- Active customers dropped to 20.3 million.
Financial Worries:
- Gross margin improved, but a profit turned into a loss.
- Guidance lowered expectations for net sales.
Despite some positives like increased net sales per customer, Chewy will need a strong recovery to reverse its fortunes.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.