On March 20, 2024, Chewy, Inc. released its financial results for the fourth quarter and full fiscal year 2023, which ended on January 28, 2024. The announcement included a Letter to Shareholders and a press release. Chewy reported net sales of $2.83 billion for Q4, a 4.2% increase year over year, and $11.15 billion for the full year, marking a 10.2% increase. The company's gross margin expanded slightly, and net income for the year was $39.6 million, with a net margin contraction of 10 basis points year over year. Basic and diluted earnings per share for the fiscal year were $0.09, a decrease from the previous year. Adjusted EBITDA for the year was $368.1 million, a significant increase from the previous year. Chewy's CEO, Sumit Singh, expressed pride in the company's...Show More

On March 20, 2024, Chewy, Inc. released its financial results for the fourth quarter and full fiscal year 2023, which ended on January 28, 2024. The announcement included a Letter to Shareholders and a press release. Chewy reported net sales of $2.83 billion for Q4, a 4.2% increase year over year, and $11.15 billion for the full year, marking a 10.2% increase. The company's gross margin expanded slightly, and net income for the year was $39.6 million, with a net margin contraction of 10 basis points year over year. Basic and diluted earnings per share for the fiscal year were $0.09, a decrease from the previous year. Adjusted EBITDA for the year was $368.1 million, a significant increase from the previous year. Chewy's CEO, Sumit Singh, expressed pride in the company's performance and its market share growth, margin expansion, and acceleration of free cash flow generation. The company also announced a conference call to discuss the results. Chewy's mission is to be a trusted destination for pet parents, offering a broad selection of products and services. The company partners with approximately 3,500 brands and offers around 115,000 products and services through its platforms.