Chewy Falls After Earnings Disappoint Investors

Financial Performance - Company exceeded the high end of the expectation range in terms of profitability and sales [1] - Company delivered on top of the range on profitability [1] - Company raised the guidance [1] - Company is converting 80% of its profit into free cash flow [2] Growth & Market Share - Company is clearly taking share [1] - Net adds are growing [1] - Auto ship subscription is up to 83% [2] Industry Dynamics - Pets are continuing to eat and they need more meds [2]