Chewy's stock drops 8% on revenue miss
Chewy Inc.'s stock (CHWY) declined 8% in after-hours trading Wednesday after the online pet-supplies retailer posted quarterly results that topped analyst revenue and earnings estimates. Chewy reported a fiscal third-quarter net loss of $35.8 million. Adjusted earnings were 15 cents a share. Net sales climbed 8% to $2.74 billion from the same quarter a year earlier. Analysts surveyed by FactSet had expected on average a net loss of 6 cents a share on revenue of $2.75 billion. Shares of Chewy have plunged 48% this year, while the broader S&P 500 index has increased 18%.
-Jon Swartz
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12-06-23 1633ET
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