Chewy beat on the top and bottom line for the fiscal first quarter.
For the quarter, Chewy reported net sales of $1.62 billion, representing growth of 46% year over year and topping an analyst consensus of $1.53 billion. Earnings per share was a loss of 12 cents versus a loss of 18 cent expected by analysts.
The company also reported an adjusted EBIDTA of $3.4 million and an adjusted margin of 0.2 percent, an improvement of 160 basis points compared to the year-ago quarter.
“We had a strong start to 2020 with first-quarter net sales increasing 46 percent year-over-year and gross margins expanding 50 basis points. We also achieved a significant milestone by delivering our first-ever quarter of positive adjusted EBITDA,” said Chewy CEO Sumit Singh. “We are proud to be the e-tailer of choice for millions of new and existing pet parents during this unprecedented time. Chewy is well-positioned to thrive in this expanded marketplace, and we remain focused, as always, on our mission of becoming the most trusted and convenient online destination for pet parents (and partners) everywhere.”
Jim Cramer gives his takeaways from his interview with Singh and whether or not Chewy can survive the Amazon Death Star.
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