1206 ET - Chewy issues some encouraging commentary ahead of 1Q, Mizuho's David Bellinger and Declan Kelley say in a research note. The online pet retailer's shares following outgoing CFO David Reeder's commentary at an industry conference, they note. The analysts note that management didn't opine on 1Q guidance further, which they believe has room for upside, and they feel commentary on customer additions and Chewy+ subscription was constructive. "We expect strong results when the company reports 1Q results in mid-June," say Bellinger and Kelley. "Chewy should also attract a high-quality replacement in the CFO seat now that the business is in a much more attractive place than in prior years." Shares rise 3.3% to $40.79, its highest level in over two years. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

May 14, 2025 12:06 ET (16:06 GMT)

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