With sales exceeding 2.2 billion, pet brand chewy grew 24% in Q3!

Recently, the American pet brand Chewy announced its third-quarter sales performance. Judging from the performance announced this time, Chewy still maintained growth in many aspects with many highlights.

Among them, net sales reached US$2.21 billion, an increase of 24.1% year-on-year ; gross profit margin was 26.4%, an increase of 90 basis points year-on-year ; net loss was US$32.2 million, including US $19.1 million of share-based compensation expenses ; net profit margin of (1.5)% increased by 30 basis points year-on-year . In addition, adjusted EBITDA (1) was US$6 million, an increase of 9.9% year-on-year ; adjusted EBITDA margin (1) was 0.3%, flat year-on-year .

In the last quarter, Chewy's net sales were $2.16 billion , gross profit margin was 27.5%, and net loss was $16.7 million. It can be seen that although many aspects have maintained strong growth, net losses are also increasing.

Chewy CEO Sumit Singh said net sales increased 24% year-over-year in the third quarter , or 86% cumulatively over the past two years, as demand and consumer engagement remained strong. His company 's continued growth this year demonstrates the robustness of its growth strategy , the uniqueness of Chewy's value proposition, and the durability of the pet category.

The picture comes from its official website

Sumit Singh also said that the company 's third-quarter profitability reflects the impact of continued supply chain disruptions, labor shortages and rising inflation. In the process of dealing with these macro uncertainties, Chewy will remain focused on the long term and is committed to building a lasting franchise that serves millions of loyal pets, pet parents and partners.

Recently, Chewy has also provided an exclusive set of pet health insurance and wellness plans to more than 20 million customers. Chewy officials said they will continue to expand its portfolio of health products and services under the Chewy Health brand to help pet lovers get more support and help.

The company has been established for ten years and is also the largest pet vertical e-commerce company in the United States. It is deeply loved by consumers for its meticulous service and high-quality products. In recent years, the pet products market has been relatively hot, and the brand has seized the right opportunity. How the fourth quarter performance will be is exciting.

chewy

Q3