Chewy's Customers Spent More, Giving Pet Supplies Retailer Big Profit Boost
CHWYChewy(CHWY) Investopedia·2024-08-28 22:11

Key TakeawaysChewy reported second-quarter earnings well above forecasts as its customers spent more on pet food and supplies.The retailer had a decline in total active customers, but the ones it did have spent a record amount.Chewy also posted an increase in revenue from those who had their orders shipped to them automatically. Chewy (CHWY) shares surged Wednesday as the online pet supplies retailer posted a much better-than-expected profit as it set a record for customer spending. The company reported sec ...