Summary by Moomoo AI
Chewy, the largest pure-play pet e-tailer in the United States, reported a 3.1% increase in net sales to $2.88 billion for the quarter ended April 28, 2024, compared to $2.79 billion in the same period last year. The company's net income saw a significant rise of 192.7%, reaching $66.9 million, up from $22.9 million year-on-year. This substantial growth in net income was accompanied by a 200% increase in both basic and diluted earnings per share, which stood at $0.15. Adjusted EBITDA also grew by 46.9% to $162.9 million, with the margin expanding from 4.0% to 5.7%. The company's financial performance was bolstered by growth in customer spending and the Autoship subscription program, with net sales per active customer increasing by 9.6%. Despite the positive financial metrics, the company experienced...Show More
