Chewy Inc ( (CHWY) ) has released its Q4 earnings. Here is a breakdown of the information Chewy Inc presented to its investors.
Chewy Inc., a leading online retailer in the pet industry, offers a wide range of pet products, supplies, and prescriptions through its user-friendly websites and mobile applications. The company has released its financial results for the fiscal fourth quarter and full year 2024, showcasing significant growth and profitability.
In its latest earnings report, Chewy reported a 14.9% year-over-year increase in net sales for the fourth quarter, reaching $3.25 billion, and a 6.4% increase for the full year, totaling $11.86 billion. The company also saw improvements in gross margins and adjusted EBITDA, indicating strong operational performance.
Key financial highlights include a gross margin expansion to 28.5% for the quarter and 29.2% for the year. Adjusted EBITDA for the quarter rose to $124.5 million, a 44% increase, while the full year saw a 55% rise to $570.5 million. Despite a slight decline in net margin for the quarter, the full year net margin improved significantly to 3.3%.
Looking ahead, Chewy’s management remains optimistic about the company’s growth trajectory, emphasizing strong customer loyalty and strategic priorities aimed at driving innovation in the pet category. The company is poised to maintain its momentum into 2025, focusing on enhancing customer engagement and expanding its product offerings.