Reported 2 days ago
Chewy Inc. faced a significant stock drop of 12.6% after reporting earnings that met analyst forecasts but fell short in GAAP terms. Although the online pet food retailer's revenue for Q2 reached $3.1 billion, a 9% year-over-year increase, its profit per share dropped nearly 80% due to the absence of a sizable tax credit this year. Despite a strong customer base with 83% of sales from repeat customers, analysts find Chewy's valuation too high, suggesting investors should explore alternative stocks.
Source: YAHOO