Chewy grew revenue despite a slight drop in active customers. The company plans to repurchase up to $500 million worth of shares.
Chewy reported solid sales and improved margins, leading to strong profitability. The company is seeing strong operating leverage in its business.
Chewy's stock is soaring after a better-than-expected quarter raised expectations for the rest of 2024.
Revenue is flat, but margins are up for the online pet retailer. Investors think the margin improvement can continue.
Charles Schwab Investment Management increased its Chewy position over the past two quarters. The e-commerce player recently announced increasing earnings and a share buyback plan.
Chewy's latest earnings report impressed the market. Its profits are soaring, and it launched a new buyback plan.
Analysts at UBS have raised their price target on Chewy after the pet food and pet-related supplies retailer's first quarter results showed improvement as inflation moderates. The analysts upped their price target on the stock from $19 to $21 and awarded it a ‘Neutral' rating.
Chewy (CHWY) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CHWY broke through the 200-day moving average, which suggests a long-term bullish trend.
Chewy, Inc. NYSE: CHWY defied expectations and produced a solid Q1 that suggests momentum, continued strength, and rapidly improving shareholder value in the year's second half. Although growth has slowed, performance is better than expected, compounded by significant margin improvement.
Chewy shares surged almost 27% after the retailer of pet food and other pet-related products reported better-than-expected first quarter earnings and raised its margin guidance for the full year. For 2024, the company continues to expect sales in the range of $11.6 billion to $11.8 billion but lifted its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin expectation to 4.1% to 4.3%, above the 3.3% previously forecast.
With pets proving to be a financial strain for many consumers, Chewy has been seeing them hold off on adopting new pets until inflation eases up. Now, some people are finally ready to take on the responsibility.
Jim Cramer only had good things to say about Chewy Inc (NYSE: CHWY) at the “morning meeting” on Wednesday. Cramer shares his view on Chewy stock The pet food and products retailer came in ahead of Street estimates for its first quarter today on “healthy growth rates” in pet adoption.