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Chewy Stock Declines Amid Conservative Q3 Guidance Despite Strong Q2 Performance
Chewy Stock Declines Amid Conservative Q3 Guidance Despite Strong Q2 Performance
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BTCCSquare news:
Chewy shares tumbled 15% this week after the online pet retailer projected slower growth for the upcoming quarter. While Q2 results showed a robust 9% sales increase and 38% EPS growth, management's forecast of 7.5% revenue expansion and $0.30 adjusted EPS spooked investors.
The market's reaction appears disproportionate given Chewy's fundamental strengths. Autoship recurring revenue surged 15% to 83% of total sales, creating a stable foundation. Margin-enhancing initiatives like sponsored ads (90bps gross margin improvement) and the new Chewy+ membership program already contribute 3% of sales.
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