Chewy Inc

CHWY: XNYS (USA)

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Chewy Earnings: Customer Growth and Margin Gains Defy Macro Pressures on Pet Demand; Shares Cheap

Brett Husslein

Sep 9, 2026

Chewy's second-quarter results featured a 7.3% net sales increase, with autoship as a share of sales rising to 84.6% (from 83%). Gross margin held at 30.4%, while operating margin rose 60 basis points to 2.8% supported by sponsored ads, disciplined promotional activity, and tariff refunds.

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Chewy Inc

Chewy Earnings: Customer Growth and Margin Gains Defy Macro Pressures on Pet Demand; Shares Cheap

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