THE ALLEGED WRONGDOING: On June 10, 2025, PetMed announced that it would delay the release of its fourth-quarter and full-year 2025 earnings due to the company's need for additional time to complete its year-end audit process. On this news, PetMed's stock price fell $0.47, or 11.2%, to close at $3.72 per share on June 11, 2025 Then, on July 1, 2025, PetMed announced it would delay filing its annual report with the SEC amid an internal investigation conducted by the company's Audit Committee. PetMed attribut ...

Core Insights - Chewy Inc. reported better-than-expected earnings for Q1, with adjusted earnings of 35 cents per share, a 12.9% increase year-over-year, surpassing the consensus of 34 cents and management guidance of 30-35 cents [1] - The company achieved sales of $3.12 billion, reflecting an 8.3% year-over-year growth, exceeding the consensus of $3.08 billion and management guidance of $3.06 billion-$3.09 billion [1] Financial Outlook - For fiscal year 2025, Chewy anticipates sales between $12.30 billion and $12.45 billion, slightly below Wall Street's estimate of $12.54 billion [2] - The expected adjusted EBITDA margin for 2025 is projected to be between 5.4% and 5.7%, compared to 4.8% for fiscal year 2024 [2] - For Q2 2025, Chewy forecasts sales of $3.06 billion to $3.09 billion, above the consensus of $3.03 billion, and adjusted earnings of 30-35 cents per share versus a consensus of 31 cents [2] Stock Performance - Following the earnings announcement, Chewy shares increased by 2.5%, trading at $41.79 [3] Analyst Ratings and Price Targets - JP Morgan analyst Doug Anmuth maintained an Overweight rating and raised the price target from $36 to $47 [6] - Mizuho analyst David Bellinger maintained a Neutral rating and lowered the price target from $47 to $44 [6] - Wedbush analyst Scott Devitt maintained an Outperform rating and raised the price target from $39 to $45 [6] - Evercore ISI Group analyst Mark Mahaney maintained an Outperform rating and raised the price target from $47 to $52 [6] - Citigroup analyst Steven Zaccone maintained a Buy rating and raised the price target from $42 to $49 [6] - Guggenheim analyst Steven Forbes maintained a Buy rating and raised the price target from $42 to $45 [6]

June 5, 2025 First Quarter 2025 Earnings Call Safe Harbor and Non-GAAP Measures This Presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are othe ...