Chewy Reports Q2 Financial Results
Chewy, Inc. reported $1.15 billion in net sales in its second-quarter earnings report, which was released today after the market closed. That represents a 43% YOY increase in the company's second quarter, which ended Aug. 4.
Other highlights from the report include:
• 12 million active customers (39% increase YOY);
• $352 net sales per active customer (10% increase YOY);
• $800 million in autoship customer sales (48.5% increase YOY)
• Gross margin of 23.6 percent expanded 300 basis points year-over-year;
• Net loss of $82.9 million, including a non-cash share-based compensation charge of $43.8 million;
• Adjusted EBITDA loss of $29.2 million improved 45 percent year-over-year; and
• Adjusted EBITDA margin of (2.5)% expanded 410 basis points year-over-year.
“We are pleased to report strong second quarter 2019 results with net sales growing 43 percent year-over-year, and gross margin increasing 300 basis points over the same time horizon,” said Chewy CEO Sumit Singh, in a press release about the report. “Keeping the customer at the center of everything we do is core to our mission of becoming the most trusted and convenient online destination for pet parents, and the team continues to execute well against our strategy of long-term, sustainable growth and margin expansion.”
The company will host a conference call and webcast to discuss the report today at 5:00 p.m. ET.