Chewy took a dive with the rest of the market and has not completely recovered from it yet. We are still up quite a bit from our purchase (37%). Chewy released earnings and gave a surprise profit late March which actually fell back down without much explanation in news.
- Reported a surprise profit when a loss was expected, revenue up 50.8% y/y
- New customers acquisitions accelerated last year across the board
- Autoship sales stayed up high
- Bump in margins propelled Chewy into profitability
We will continue to hold Chewy as it’s a great value and service.