Chewy reported a significant improvement in its financial performance for the quarter ended October 27, 2024. Net sales increased by 4.8% YoY to $2.88 billion, driven by higher customer spending and increased Autoship subscriptions. Net income surged 111% to $3.9 million, with a basic EPS of $0.01. The company also reported a 67.4% increase in adjusted EBITDA to $138.2 million.Management attributed the strong performance to supply chain efficiency gains and margin expansion in consumables, healthcare, and private brands. The company also benefited from increased marketing investments and expansion into Canada, which boosted customer acquisition and retention. However, Chewy continues to face macroeconomic challenges, including inflation and interest rates, which could impact future performance.Looking ahead, Chewy remains focused on enhancing its logistics and supply chain processes to adapt to changing economic conditions. The company is also modernizing its finance IT architecture to support future growth and improve operational efficiency. Despite uncertainties, Chewy expects its liquidity position to remain strong, supported by cash flows and credit facilities.

Chewy reported a significant improvement in its financial performance for the quarter ended October 27, 2024. Net sales increased by 4.8% YoY to $2.88 billion, driven by higher customer spending and increased Autoship subscriptions. Net income surged 111% to $3.9 million, with a basic EPS of $0.01. The company also reported a 67.4% increase in adjusted EBITDA to $138.2 million.Management attributed the strong performance to supply chain efficiency gains and margin expansion in consumables, healthcare, and private brands. The company also benefited from increased marketing investments and expansion into Canada, which boosted customer acquisition and retention. However, Chewy continues to face macroeconomic challenges, including inflation and interest rates, which could impact future performance.Looking ahead, Chewy remains focused on enhancing its logistics and supply chain processes to adapt to changing economic conditions. The company is also modernizing its finance IT architecture to support future growth and improve operational efficiency. Despite uncertainties, Chewy expects its liquidity position to remain strong, supported by cash flows and credit facilities.