Chewy increases net sales by 3.1 per cent

Chewy has published its financial results for the first quarter of the 2024 financial year, which ended on 28 April 2024. According to the results, net sales of USD 2.88 billion increased by 3.1 per cent compared to the previous year. The gross margin of 29.7 per cent increased by 130 basis points compared to the previous year. Net profit is reported at 66.9 million dollars.

"The 2024 financial year has got off to a solid start. We delivered both strong net sales and record-breaking adjusted EBITDA in the first quarter," said Sumit Singh, Chief Executive Officer of Chewy.