"Analyzing Chewy's Q4 Earnings and Stock Performance"
Chewy, Inc. (NYSE:CHWY) beat earnings expectations for Q4 2023, reporting EPS of $0.11 compared to the expected $0.1. The company's net sales for the quarter increased by 4% to $2.83 billion, with full-year 2023 net sales reaching $11.15 billion, representing a 10% year-over-year growth. Chewy's CEO, Sumit Singh, highlighted the company's ability to deliver market share gaining growth, expand margins, and accelerate free cash flow generation. The company also discussed its strategic priorities, including the launch of Chewy Vet Care clinics and its outlook for the pet industry in 2024. Newly appointed CFO, David Reeder, expressed confidence in Chewy's long-term financial model and outlined the company's first quarter and full-year 2024 outlook, anticipating continued growth and profitability.
