Chewy's Q4 Revenue Surges, Profits Dip
Chewy reports impressive revenue growth but faces challenges in customer expansion.
Online pet products retailer Chewy (NYSE:CHWY) reported fiscal 2024 fourth-quarter earnings on Wednesday, March 26, that topped analysts' consensus expectations. Revenue for the quarter surged 14.9% year over year to $3.25 billion, outperforming forecasts of $3.2 billion. Adjusted earnings per share rose to $0.28 from $0.18 a year ago. However, net income fell nearly 29% to $22.8 million, as projected costs pressured margins.
Overall, Chewy showed robust revenue growth, yet headwinds in customer market expansion fazed investors.
Source: Chewy. Note: Analyst consensus estimates for the quarter provided by FactSet. YOY = Year over year. pps = Percentage points.
