Chewy Must Change How It Makes Money to Rebound

Online pet retailer Chewy (CHWY 4.40%) enjoyed a period of skyrocketing pet ownership during the pandemic. Revenue soared 24% in 2021 as pet owners turned to Chewy for its attractive prices and convenient shipping options. The stock soared as well, peaking at around $120 per share in early 2021.The bill is now coming due. Demand was pulled forward by the pandemic, with new pet households forming that otherwise would have remained pet-free or delayed getting a pet. Even as it wins market share, Chewy is stru ...