Chewy Stock Rises 5% After Q2 Net Income Jumps 14x: Retail Goes Crazy
$Chewy (CHWY.US)$ 's adjusted EPS surged to $0.24 (vs. $0.02 expected), with revenue up 2.6% YoY to $2.86 billion.
Net Income Soars: Net income skyrocketed 14x to $299 million, while EBITDA grew 39% YoY to $144.8 million.
CEO Sumit Singh highlighted a record net sales per active customer of $565.
Gross Margins Improve: Gross margins increased 120 basis points YoY to 29.5%.
Following the results, retail sentiment turned extremely bullish on Stocktwits.
Chewy's stock is up nearly 16% YTD. Morgan Stanley recently raised its price target to $30 from $28.
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