The shares of Chewy Inc. they fell nearly 10% in trading after business hours after the specialist retailer recorded a larger-than-expected loss for its second quarter and had slightly fewer active customers than expected in Wall Street.
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he said it lost $ 17 million, or 4 cents a share, in the quarter, compared to a loss of $ 33 million, or 8 cents a share, in the previous year’s quarter. The FactSet consensus demanded a quarterly loss of 2 cents per share.
Sales rose 27%, to $ 2.166 billion, from $ 1.701 billion the previous year, and were in line with the company’s expectations and guidelines.
Chewy, which sells a wide variety of pet products, said it ended the quarter with 20.1 million active customers, up 21% year-on-year. Analysts surveyed by FactSet expected the company to end the quarter with 20.4 million active customers.
The company has added more customers than before the pandemic, “but below the record levels we saw last year during the peak of pandemic-driven blockades,” Chewy said.
“Our company remains healthy, customer engagement continues to grow and we are confident in our ability to build on the strong results we delivered last year as we navigate uncertain market conditions due to the COVID pandemic. -19 constantly evolving, ”the company said. in a letter to shareholders.
Chewy in June made a surprise quarterly profit, but warned that he was facing labor shortages and supply problems that led him to run out of some items.
He continued to have problems with sold-out items, but the situation has improved “modestly,” the company said.
“This is the result of improved supply chain conditions in some areas, as certain suppliers reduce labor costs,” Chewy said. “However, other areas such as wet dog food are still affected by industry-wide production capacity constraints.”
Chewy led third-quarter sales of $ 2.20 million to $ 2.22 million. For fiscal year 2021, the company maintained its sales orientation between $ 8.9 billion and $ 9.9 billion. Conditions around the pandemic remain “unpredictable,” he said.
Shares of Chewy ended the extended session on Wednesday with a decline of 9.7% and have fallen almost 3% so far this year, in contrast to gains of around 21% of the S&P 500 SPX index,