Chewy shares tumble after pet retailer's earnings and forecast disappoint

as Americans spent more time at home, leading to increased pet adoption and spending on animals.

Singh said it was expected that the company's growth rate would moderate as the economy reopened and consumer spending shifted back toward activities like travel. For example, in the second quarter last year, Chewy's posted a 47% year-over-year jump in sales, compared with the most-recent quarter's roughly 27% increase.

Even though top-line revenue growth has decelerated, Singh said other important metrics for the company are stronger than ever. "Customer spending on our platform is at an all-time high," Singh said. In the second quarter, Chewy's net sales per active customer was $404, up 13.5% compared with the same period last year. Active customers of 20.1 million in the second quarter was 21.1% higher than in the second quarter in 2020.

"So what does that tell you? More customers. They're spending more. They're staying with us longer, and we continue to deliver very strong comps," Singh said. "Overall, we're very pleased with the performance of the business and the way that the teams are operating amidst this difficult environment."

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Stocks making the biggest moves after hours: Chewy, Five Below, ChargePoint and moreThese are the stocks posting the largest moves in midday trading. Damn you Chewy, we all know you ain't shit compared to $WOOF
แหล่ง: CNBC - 🏆 12. / 72 อ่านเพิ่มเติม »

DSW parent Designer Brands shares jump 6.9% premarket after earnings blow past estimatesDSW parent Designer Brands Inc. shares undefined jumped 6.9% in premarket trade Tuesday, after the retailer blew past earnings estimates for its fiscal... nice Democrats repealing trump's peace treaty paying Palestinian money replaced with unconditional Palestinian money allowing Palestinians attack Israel was democrats policy deliberately repealing trump's successful middle east policy same with afganistand and keystone Obama ebola
แหล่ง: MarketWatch - 🏆 3. / 97 อ่านเพิ่มเติม »

Stocks making the biggest moves after hours: Chewy, Five Below, ChargePoint and moreThese are the stocks posting the largest moves in midday trading. Damn you Chewy, we all know you ain't shit compared to $WOOF
แหล่ง: CNBC - 🏆 12. / 72 อ่านเพิ่มเติม »