By Connor Hart

Chewy cut its sales outlook for the year, up against a more dynamic consumer backdrop.

The online pet-supplies retailer said Wednesday it now expects net sales to come in between $13.4 billion and $13.55 billion this year, down from a prior forecast of $13.6 billion to $13.75 billion. Analysts polled by FactSet expected sales of $13.65 billion.

The lower view came as Chewy issued an underwhelming outlook for the current quarter, guiding for adjusted earnings of approximately 36 cents a share on sales of $3.3 billion to $3.33 billion. Analysts were looking for adjusted earnings of 40 cents a share on sales of $3.36 billion.

Chief Executive Sumit Singh said that despite operating in a more challenging environment, Chewy continues to gain market share, expand profitability and add new customers.

For its fiscal first quarter ended May 3, Chewy posted a profit of $94.8 million, or 23 cents a share. That compares with a profit of $62.4 million, or 15 cents a share, in last year's comparable period.

Stripping out one-time items, adjusted earnings were 43 cents a share, in line with analysts' expectations.

Net sales climbed 7.7% to $3.36 billion, just inching out Wall Street models for $3.35 billion.

Active customers rose 3.6% to 21.5 million, while net sales per active customer increased 2.4% to $597.

Shares rose 5.2%, to $21.46, in premarket trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

June 10, 2026 07:42 ET (11:42 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.