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Chewy, Inc. (symbol: CHWY) is a leading e-commerce pet care retailer in the United States, known for revolutionizing how pet owners shop for their furry friends. Established in 2011, Chewy has built its reputation on offering a wide array of premium pet products, ranging from food and treats to hard goods and pharmacy items. The company prides itself on its customer-centric approach, providing unparalleled service that has earned them a loyal and expanding customer base.
Acquired by PetSmart in 2017, Chewy later went public in 2019, marking its growth into a stand-alone entity. As of 2023, Chewy boasts an impressive $11.2 billion in sales, underscoring its dominance in the pet products industry. Chewy’s core business includes pet food, treats, over-the-counter medications, medical prescription fulfillment, and essential pet accessories such as crates and leashes.
The company operates with a clear mission: to offer the best service and pet products with a determination and sunny disposition as vibrant as its South Florida HQ. Chewy commits to creating a stimulating work environment where creativity and accountability thrive. Whether through innovative marketing strategies or customer service excellence, Chewy continually seeks to amaze both its customers and employees.
Recent achievements include the expansion of their product lines and the enhancement of their delivery infrastructure, ensuring faster and more reliable service. Current projects focus on integrating more personalized shopping experiences through AI and data analytics, as well as expanding their pharmacy and wellness categories.
Chewy’s financial condition is robust, supported by a growing revenue stream and strategic partnerships within the pet care industry. The company’s commitment to quality and customer satisfaction positions it as a formidable player in the market, continuously setting new standards in e-commerce for pet products.
Chewy (NYSE: CHWY) announced the pricing of a public offering of 15,852,886 shares of Class A common stock by Buddy Chester Sub , an entity affiliated with BC Partners. The selling stockholder granted a 30-day option for an additional 2,377,932 shares. Concurrent with the offering, Chewy will repurchase $50 million of its Class A shares at the same price as the underwriter's purchase price.
The repurchase was approved by a special committee of independent directors and is separate from Chewy's existing $500 million share repurchase program. Post-transaction, Chewy will have approximately 178 million Class A shares and 229 million Class B shares outstanding. The offering and repurchase are expected to close by December 13, 2024. Barclays is acting as the sole underwriter.
Chewy (NYSE: CHWY) announced a public offering of $500 million worth of Class A common stock by Buddy Chester Sub , an entity affiliated with BC Partners, Chewy's largest shareholder. The selling stockholder will grant underwriters a 30-day option for an additional $75 million in shares.
Concurrent with the offering, Chewy will repurchase $50 million of Class A Common Stock from the selling stockholder at the same price paid by underwriters. This repurchase is separate from Chewy's existing $500 million share repurchase program and will result in cancelled and retired shares. Barclays is acting as the sole underwriter for the offering.
Chewy (NYSE: CHWY) reported strong Q3 2024 financial results with net sales of $2.88 billion, up 4.8% year over year. The company achieved a gross margin of 29.3%, representing an 80 basis points increase. Net income reached $3.9 million, with a net margin of 0.1%, up 140 basis points year over year.
Notable improvements include Adjusted EBITDA of $138.2 million, increasing by $55.7 million, and adjusted net income of $84.9 million, up by $21.5 million year over year. The company reported basic and diluted earnings per share of $0.01, and adjusted EPS of $0.20, marking increases of $0.09 and $0.05 respectively year over year.
Chewy (NYSE: CHWY) announced it will report its fiscal third quarter 2024 financial results before market opens on Wednesday, December 4, 2024. Management will host a conference call and webcast at 8:00 am ET to discuss the results. The company offers approximately 115,000 products and services through partnerships with 3,500 pet industry brands, along with their private label offerings. Chewy positions itself as the leading online destination for pet products, supplies, and prescriptions, focusing on competitive pricing and exceptional customer service.
Chewy (NYSE: CHWY) is relaunching its Chewy Claus holiday campaign, allowing pets and their owners to submit wish lists through December 20. For each letter submitted, Chewy will donate one pound of pet food to non-profit partners, up to 600,000 pounds. The company is partnering with Best Friends Animal Society to provide free pet adoptions from November 29 to December 1 at participating shelters nationwide. Since the program's 2022 debut, over 500,000 pets have written letters to Chewy Claus. The initiative aims to help shelter pets find homes while spreading holiday cheer through pet food donations.
Chewy, Inc. (NYSE: CHWY) announced the pricing of an underwritten offering of 16,666,667 shares of its Class A common stock by Buddy Chester Sub , an entity affiliated with BC Partners, at $30.00 per share. Concurrently, Chewy will repurchase $300 million worth of its Class A common stock from the Selling Stockholder at the same price. The Offering and Concurrent Repurchase are expected to close by September 23, 2024.
Key points:
- Chewy will not sell any shares or receive proceeds from the Offering
- The underwriter has a 30-day option to purchase up to 2,500,000 additional shares
- The Concurrent Repurchase is separate from Chewy's existing $500 million share repurchase program
- Post-transaction, Chewy will have approximately 160 million Class A and 248 million Class B shares outstanding
- Morgan Stanley is the sole underwriter for the Offering
Chewy, Inc. (NYSE: CHWY) announced a public offering of $500 million of its Class A common stock by Buddy Chester Sub , an entity affiliated with BC Partners. The underwriters have a 30-day option to purchase an additional $75 million of shares. Chewy will not receive any proceeds from this offering.
Additionally, Chewy has agreed to a Concurrent Repurchase of $300 million of its Class A common stock from the Selling Stockholder at the same price as the public offering. This repurchase, approved by a special committee of Chewy's Board, is separate from the existing $500 million share repurchase program authorized on May 24, 2024.
Morgan Stanley is the lead book-running manager for the offering. Chewy has filed a registration statement with the SEC, and interested investors should read the prospectus for complete information.
Chewy (NYSE: CHWY) reported strong financial results for Q2 2024. Net sales increased 2.6% year-over-year to $2.86 billion. Gross margin improved by 120 basis points to 29.5%. Net income surged to $299.1 million, with net margin expanding 980 basis points to 10.5%. Diluted EPS rose by $0.63 to $0.68.
Adjusted EBITDA grew by $56.7 million to $144.8 million, with margin increasing 190 basis points to 5.1%. The company's active customer base grew to 20 million, with net sales per active customer reaching a record $565. CEO Sumit Singh highlighted Chewy's compelling value proposition driving broader customer engagement.
Chewy (NYSE: CHWY) has announced its fiscal second quarter 2024 financial results conference call, scheduled for Wednesday, August 28, 2024, at 8:00 am ET. The company will release its financial results before the market opens on the same day. Investors and interested parties can access the conference call via phone registration or a live webcast on Chewy's investor relations website.
Chewy, an online destination for pet products, supplies, and prescriptions, offers approximately 115,000 products and services through its websites and mobile applications. The company partners with about 3,500 trusted brands in the pet industry and also creates its own private brands. Chewy aims to provide a customer-centric experience, focusing on pet health, wellness, and merchandise needs.
The Pets Table, a premium pet food brand by HelloFresh, has launched on Chewy, Inc. (NYSE: CHWY), marking its first availability via an external omni-channel retailer. This collaboration allows pet parents to access high-quality, minimally processed pet food without a subscription. Initially, Chewy will offer The Pets Table's Air-Dried Dog Food and Treats, with Fresh Frozen meals coming later this summer. The products are developed with vets and vet nutritionists and are free from preservatives or fillers. Chewy’s Autoship customers can enjoy special savings on these products.
The Pets Table aims to redefine pet nutrition by providing human-grade, wholesome meals and has delivered over 4 million meals since its launch in June 2023. The brand has received positive feedback, with 86% of customers reporting their dogs prefer The Pets Table food over previous brands. Visit Chewy to shop The Pets Table products, or learn more at thepetstable.com.
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