By Kuldip K. Ambastha
Chewy Inc. (CHWY) is an American company focused on the online retailing of pet food and other pet-related items. On the trading day of Wednesday, March 31, 2021, the stock rose by +5.4% due to impressive quarterly performance figures. In the latest quarter, sales exceeded $2 billion for the first time in the company’s history, with a profit of $21 million. Consumer demand for higher-end Chewy product offerings, a need for consumers to shop online because of the ongoing coronavirus pandemic lockdowns, and less dollars focused on costly marketing efforts all benefited Chewy. Company management has expressed a positive outlook for the future, but it remains to be seen if Chewy’s positive results will continue in later quarters.
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Disclosure – The principals and clients of Ambastha Financial LLC have no positions in CHWY.
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