Chewy jumps after beating expectations for revenue and gross sales By

© Reuters — Chewy Inc (NYSE:) inventory was rising after-hours after it beat expectations on revenue and income.

The pet product retailer reported adjusted revenue of 15 cents a share on income of $2.78 billion, up 14.3%. Analysts anticipated a lack of 5 cents a share on income of $2.76 billion.

Shares had been up 4% in after-hours buying and selling. They’re down 26% to this point this yr.

Chewy mentioned its gross margin of 28.3% was up 20 foundation factors from the identical time final yr.

“We delivered strong ends in Q2 throughout each topline and profitability, with 14% progress exceeding steerage,” mentioned CEO Sumit Singh. “Chewy as soon as once more gained share as our prospects acknowledge the ability of our personalised Autoship service, best-in-class healthcare expertise, and total worth proposition as key differentiators, leading to sturdy ordering habits, which in flip is driving our sturdy efficiency.”

Chewy sees third quarter internet gross sales of $2.74 billion to $2.76 billion. It sees full yr internet gross sales of $11.15 billion to $11.35 billion.


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