Customer GrowthChewy is well positioned as the leader in online pet retail with a 33% market share, benefiting from multiple top-line drivers, including secular growth and international expansion.
Financial PerformanceChewy's net revenue growth of 4.8% outpaced consensus and guidance, coupled with an 80 basis points expansion in gross margin, demonstrating strong financial performance.
ProfitabilityThe bull profitability thesis for Chewy is on track with $750 million plus in 2025 EBITDA remaining achievable, supported by strong execution and improving industry trends.