U.S. online pet retailer Chewy (CHWY) is expanding into Canada as it looks to grow its sales internationally.
The company, which sells pet food, toys, medication, and accessories, said it plans to enter the Canadian market this summer.
Specifically, Chewy will deploy its online platform in Canada, focusing on the Greater Toronto Area (GTA) first and then expanding across the rest of the country.
The company also announced a new fulfillment centre in Nashville, Tennessee, and a partnership with Lemonade Pet Insurance.
Chewy, which is based in Plantation, Florida, is looking to enter Canada as its sales slump in its home market.
The company saw demand explode during the Covid-19 pandemic when consumers were forced to shop for their pets online, but demand has since waned.
Chewy’s stock peaked at nearly $120 U.S. a share in February 2021. Since then, the share price has fallen 70% to trade at $35.85 U.S.
