Group 1 - Chewy's net sales increased by 8.6% year-over-year in the second quarter, surpassing the company's guidance range, driven by growth in the Autoship subscription and Chewy+ membership programs [1][2] - The Autoship program's net sales rose by approximately 15% during the quarter, representing 83% of Chewy's total net sales [2] - Over the past 12 months, Chewy's total net sales grew by 9.2% year-over-year, while Autoship customer sales increased by 14.9% [2] Group 2 - The Chewy+ program exceeded expectations, accounting for 3% of total monthly sales in July, with projections for mid-single-digit share of net sales by year-end [3] - Chewy+ members demonstrate higher net sales per active customer (NSPAC), increased profit per customer, and greater buying frequency compared to non-members [4] - The NSPAC for Chewy+ customers is accelerating, positively impacting Chewy's overall net sales [5][7] Group 3 - Chewy+ offers benefits similar to Amazon Prime and Costco membership, including free shipping, rewards, and exclusive offers [5][6] - The Autoship program allows customers to customize delivery frequency, save on eligible items, and gain priority access to popular products [6] - NSPAC is growing at 4.5% and is expected to increase between 4% to 5% in the second half of the year, driven by stronger Autoship and product mix [7]

Company Overview - Nature's Sunshine is a global natural health and wellness company operating in 40 markets with 50+ years of experience [6] - The company has a robust product portfolio of 800+ products across six different categories [6] - The company utilizes a fully integrated model with in-house R&D, procurement, testing, and manufacturing capabilities [6] Market and Sales - The company operates in the steadily growing global supplement market, which is projected to reach $1924 billion in 2024 and $2140 billion in 2026 [7] - Asia accounts for 45% of the company's 2023 sales, followed by North America at 31% and Europe at 18% [12] - In North America, the revenue distribution is estimated as follows: Specialty Retail 30%, Health Practitioners 25%, Direct-to-Consumer 25%, and Other 20% [22] Growth Strategies - The company's three global growth strategies are Digital First, Field Energy, and Brand Power [28] - The company aims to grow North America Digital sales to be 50%+ of the business [33] - The Subscribe & Thrive program represents 25%+ of orders in North America and 45%+ of orders in Japan [40] Financial Performance - The company's revenue was $4453 million in 2023 [69] - The company's adjusted EBITDA was $494 million in 2023 [69] - The company's full year 2024 guidance projects net sales of $443 million - $448 million and adjusted EBITDA of $40 million - $42 million [76, 77]