By Nate Wolf
Chewy stock was falling in premarket trading Wednesday even after the pet-supply e-commerce company posted better-than-expected earnings for its fiscal first quarter.
The company reported adjusted earnings of 35 cents a share on $3.12 billion in net sales, surpassing Wall Street's call for profit of 33 cents a share and sales of $3.08 billion.
Shares were down 8% to $42.15.
Chewy posted net income of $62.4 million for the quarter, down from $66.9 million the prior year, with its net margin down to 2% from 2.3%.
"Fiscal year 2025 is off to a strong start as the momentum at Chewy continues," CEO Sumit Singh said in a statement. "These results are a testament to the resiliency of the pet category and underscore the strength of Chewy's value proposition and our ability to continue to gain market share."
The company held its current fiscal-year guidance steady, projecting sales of $12.3 billion to $12.45 billion.
Write to Nate Wolf at nate.wolf@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 11, 2025 07:45 ET (11:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.