Chewy Inc. (CHWY) Posts Impressive Q2 Results on Revenue Growth

Core Insights - Chewy Inc. is recognized as a strong defensive stock, with solid second-quarter results that exceeded sales guidance [1] - The company reported net sales of $3.1 billion, an 8.6% year-over-year increase, and improved gross margins [2] - Active customers grew by 4.5% year-over-year, reaching nearly 21 million, with an increase in share of wallet [3] Financial Performance - Net sales for the second quarter were $3.1 billion, reflecting an 8.6% increase compared to the previous year [2] - Gross margins improved by 90 basis points to 30.4% [2] - Adjusted net income rose by $36.4 million year-over-year to $141 million, resulting in adjusted earnings per share of $0.34, an increase of $0.10 year-over-year [2] Customer Metrics - Chewy's active customer base increased by 4.5% year-over-year, reaching nearly 21 million [3] - The share of wallet (NSPAC) also grew to $591, indicating a stronger customer engagement [3] Company Overview - Chewy Inc. operates as an e-commerce platform specializing in pet products, supplies, and prescription medications [4] - The company offers a diverse range of products, including pet food, toys, and healthcare items, along with services like pharmacy, insurance, and vet telehealth options [4]