On June 10, Chewy rose 5.39% in pre-market trading, trading at $21.88/share, with trading volume of $2.34 million. The rally was driven by the company's fiscal Q1 earnings release before the market open, which delivered a beat on both the top and bottom lines.

Chewy reported adjusted earnings per share of $0.43, surpassing the analyst consensus estimate of $0.39 by 10.26% and representing a 22.86% year-over-year increase. Revenue came in at $3.357 billion, also exceeding the Street's expectation of $3.352 billion. The dual beat is particularly notable given that Oppenheimer had recently adopted a cautious stance heading into the quarter, projecting adjusted EBITDA of $238 million below the consensus of $241 million and trimming core business forecasts amid softer pet category trends and more cautious consumer commentary.

Chewy is the largest pure-play pet e-commerce retailer in the United States, offering approximately 110,000 products from over 3,500 partner brands through its website and mobile applications, serving more than 21 million active customers.

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