Chewy Stock Slides 6% as Growth Slows and Profit Margins Shrink
- Chewy stock dropped 6% on Thursday due to disappointing Q4 earnings results
- Active customer base fell 1.6% in 2022, accelerating from a 1.2% drop last year
- Growth initiatives continue, like healthcare and Canadian expansion, but profit margin was sluggish
- Tougher selling environment next year - lower inflation means less price increases
- Pet adoption rates down, so volumes likely to be pressured in 2023
