Overview

• Chewy’s first-quarter revenue rose 8.3% year-over-year to $3.12 billion, driven by a 15% jump in autoship sales that now represent 82% of total revenue.
• GAAP net income fell to $62.4 million, or $0.15 per share, missing analysts’ forecasts while adjusted EPS of $0.35 beat expectations.
• Active customers grew 3.8% to 20.8 million, marking a second straight quarter of customer growth after declines in late 2024.
• CEO Sumit Singh said there are no signs of consumer weakness at Chewy and that momentum carried into the second quarter.
• Shares slid over 7% in premarket trading despite the company reaffirming its full-year sales growth outlook of 6% to 7%.