Chewy Reports Strong Q4 2023 Performance and Strategic Initiatives for Growth
Thursday, 21 March 2024, 01:00
Chewy Reports Strong Q4 2023 Performance
Key Financial Highlights:
- Q4 net sales increased by 10% year-over-year.
- Autoship subscription program contributed to market share gains.
- Net sales per active customer grew by approximately 12%.
Financial Performance: Chewy exceeded its 2023 free cash flow expectations, generating over $340 million in free cash flow, nearly three times that of 2022.
Strategic Initiatives for Growth
Chewy Vet Care Clinics:
- Expanding total addressable market by $25 billion.
- Expected to drive NSPAC and active customer growth.
- First clinic opened in Florida, with more locations planned for 2024.
Chewy remains optimistic about its role in shaping the pet industry, with a focus on driving innovation across categories and creating value for shareholders.
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.