Posted 3/21/2024, 7:22:00 PM
Chewy Stock Drops 6% as Fewer Customers and Lower Pet Adoptions Pressure Growth
- Chewy's stock dropped 6% on Thursday due to disappointing Q4 earnings results
- Revenue grew but active customer base shrank 1.6%, continuing negative trend
- Inflation cooling so prices won't rise as much, pet adoption rates down - volume pressured
- Tough selling environment ahead in 2023, growth rebound not expected soon
- Despite struggles, Chewy still profitable and cash-flow positive with long-term potential
