Chewy: Consumers Starting to Adopt Pets Again After Inflation Pullback
CHWYChewy(CHWY) pymnts.com·2024-05-30 03:11

With pets proving to be a financial strain for many consumers, Chewy has been seeing them hold off on adopting new pets until inflation eases up. Now, some people are finally ready to take on the responsibility. Chewy CEO Sumit Singh said during a call with analysts Wednesday (May 29) discussing the online pet product retailer’s first-quarter fiscal 2024 earnings results that after years of declines in pet households, the company’s data from shelters and other pet rescues finally shows a “positive balance b ...