Chewy, Inc. (NYSE: CHWY) watched its stock price drift slightly lower Wednesday. The company, which boasts a status as “a trusted destination for pet parents and partners everywhere, has released its financial results for the first quarter of fiscal year 2026 ended May 3.
Net sales of $3.36 billion increased 7.7% year over year.
Gross margin was 30.1% increased 50 basis points year over year
Net income was $94.8 million, including share-based compensation expense and related taxes of $73.4 million
Net margin of 2.8% increased 80 basis points year over year. Basic earnings per share of $0.23, an increase of $0.08 year over year.
“Chewy continues to outperform the pet category while expanding profitability and free cash flow,” said CEO Sumit Singh.
“Our first quarter results demonstrate the resilience of our business model and the strength of our execution, as we delivered 7.7% net sales growth, nearly 200,000 net customer additions, and record profitability in the quarter, despite a more dynamic consumer backdrop. We remain confident in our ability to gain market share, deliver profitable growth, and create long-term shareholder value.”
“Our mission,” to quote this morning’s news release, “is to be the most trusted and convenient destination for pet parents and partners everywhere. We believe that we are the preeminent online source for pet products, supplies, and prescriptions as a result of our broad selection of high-quality products and services, which we offer at competitive prices and deliver with an exceptional level of care and a personal touch to build brand loyalty and drive repeat purchasing.”
CHWY shares doffed 14 cents to $20.25.
