Company Reports 26 Increase In Net Sales And 120 Basis Point Improvement In Gross Margin

Chewy Announces Strong Second Quarter Results, Demonstrating Continued Growth and Financial Health

Company Reports 26% Increase in Net Sales and 120 Basis Point Improvement in Gross Margin

Key Financial Highlights

CHWY Chewy, a trusted destination for pet parents and partners everywhere, reported impressive financial results for its second quarter of fiscal 2024. The company's net sales increased by 26% year-over-year, reaching $2.86 billion. Chewy also saw a 120 basis point increase in gross margin, improving to 29.5%.

These strong results reflect Chewy's continued growth and financial stability. The company has consistently exceeded expectations, demonstrating its ability to navigate economic challenges and maintain profitability. Chewy's success is largely attributed to its customer-centric approach, offering a wide range of high-quality pet products and services at competitive prices.

Chewy's commitment to innovation and customer satisfaction has also contributed to its success. The company continues to invest in new technologies and initiatives to improve the shopping experience for its customers. Chewy's recent acquisition of FetchPet, a leading provider of pet wellness and veterinary services, is a testament to the company's commitment to providing comprehensive care for pets and pet parents.

Looking ahead, Chewy remains optimistic about its future prospects. The company expects to continue its growth trajectory and maintain its position as a leader in the pet industry. Chewy's strong financial performance and customer-centric approach position it well for continued success in the years to come.