Chewy Inc. (CHWY) shares fell 9.93% in after-hours on Wednesday, September 1, 2021, and closed the daily trading at $78.75. In the regular trading session, CHWY’s stock also lost 0.78%. CHWY shares have risen 25.93% over the last 12 months, and they have moved down 5.18% in the past week. Over the past three months, the stock has gained 16.37%, while over the past six months, it has declined 0.25%.
Let’s have a look at its recent news and developments.
CHWY recent announcement
On September 01, 2021, Chewy, Inc. (CHWY) released its financial results for the second quarter of the fiscal year 2021 ended August 1, 2021.
Q2 2021 financial highlights
- CHWY reported net sales of $2.16 billion in Q2 2021 compared to $1.7 billion in Q2 2020.
- In Q2 2021 the gross profit was $593.45 million compared to $433.35 million in Q2 2020.
- Total operating expenses were $609.6 million in Q2 2021 compared to $465.6 million in Q2 2020.
- It suffered a net loss of $16.7 million in Q2 2021 compared to a net loss of $32.8 million in Q2 2020.
- Adjusted EBITDA was $23.3 million in Q2 2021 compared to $15.45 million in Q2 2020.
CHWY 10th Anniversary
On June 23, 2021, Chewy, Inc (CHWY) announced a customer and community-focused celebration to commemorate the company’s 10th Anniversary. Chewy unveiled the “Ultimate Pet Portrait,” two large-scale murals in its hometown markets of Boston and South Florida.
The Ultimate Pet Portrait is a public tribute to all the loyal pet parents and the thousands of Chewy team members who are essential contributors to this 10 Year milestone.
CHWY Q1 21 financial results announcement
On June 10, 2021, Chewy, Inc (CHWY) reported its financial results for the first quarter of the fiscal year 2021 ended May 2, 2021.
Q1 2021 financial highlights
- CHWY reported net sales of $2.14 billion in Q1 2021 compared to $1.62 billion in Q1 2020.
- In Q1 2021 the gross profit was $589.8 million compared to $378.7 million in Q1 2020.
- Total operating expenses were $550.66 million in Q1 2021 compared to $426.2 million in Q1 2020.
- It earned a net income of $38.7 million in Q1 2021 compared to a net income of $47.87 million in Q1 2020.
- Adjusted EBITDA was $77.4 million in Q1 2021 compared to $3.4 million in Q1 2020.
Expansion of CHWY “Connect with a Vet service”
On May 21, 2021, Chewy, Inc (CHWY) expanded its popular telehealth service, connect with a Vet, with a series of features enhancing the experience of customers and veterinarians. The recent expansion includes the highly anticipated video consultation feature, the ability to preschedule a virtual vet consultation, and extended hours of operation including weekends which will begin later.
Conclusion
CHWY stock plummeted after the company reported a loss and missed the revenue estimates. it can further slide down in the coming trading sessions on Thursday.
