Pet food delivery company Chewy reports its second-quarter financial results on Wednesday.
For the sixth quarter in a row, Wall Street is projecting that Florida-based Chewy will report a loss, this time of 5 cents per share. In each of the previous five quarters, Chewy has surprised investors and analysts by posting adjusted profits. For last year’s second quarter, Wall Street expected Chewy to post a loss of 12 cents per share, but the company instead logged a profit of 5 cents per share, the same as this year’s first quarter.
U.S. employers added 187,000 jobs in July, fewer than expected. But the unemployment rate dipped to 3.5% in a sign that the job market remains resilient, especially considering that the Federal Reserve has raised its benchmark interest 11 times since March 2022. Wall Street analysts are forecasting that U.S. economy added 175,000 jobs in August.