What Is The Other Animal In The Chewy Dog Verizon Commercial

Chewy CEO Sumit Singh contends his already red-hot online pet retailer has seen even better demand this holiday season compared to the third quarter. Simply don't pivot the accelerated momentum solely on quarantined pet parents showering their pooches or kitties with consoling presents.

Nope. Singh says the pandemic has fundamentally altered how pet parents store for bones, cat nutrient and whatever else one's indoor animal needs to exist their best selves.

"We believe what nosotros are seeing in the third quarter into the quaternary quarter is, in fact, organic and structural and not driven by a 2d surge of COVID or the pandemic," Singh told Yahoo Finance Alive. Singh points to consistent force in retentiveness rates for automobile-ship customers and spending past customer as support for his view.

Chewy's active customers grew 39.8% year-over-yr to 17.8 meg. The average spent by customer rose two.8% from a yr agone to $363. To Singh's indicate, both metrics are consistent with the second quarter in terms of growth rate.

Here's how Chewy performed versus Wall Street's projections for sales and profits.

• Net Sales: sales up 45% twelvemonth-over-year to $one.78 billion versus estimates for $1.72 billion

• Non-GAAP EPS: loss of 8 cents versus estimates for a loss of 14 cents

Chewy (CHWY) shares had initially sold off slightly on Tuesday evening after the results. Just shares popped 3% Wednesday morning.

Local dog Frankie poses for photos outside the New York Stock Exchange, decorated for the Chewy IPO, Friday, June xiv, 2019. Chewy, the online seller of pet food and squeaky toys, went public Friday and its shares soared 71%. (AP Photograph/Richard Drew)

Past and large, Wall Street is staying upbeat on Chewy into 2021. Besides holding a commanding lead in online pet product sales, analysts are growing jazzed past the company's recent expansion into telehealth and chemist's services. Singh says Chewy is actively looking for ways to monetize its new telehealth service (now live in 47 states), which links pet parents to vets straight. Currently, the service comes with a membership to Chewy's auto-ship function.

"With impressive growth and a concern model that is levered to industry tailwinds, we believe Chewy can keep to achieve stiff sales growth," Jefferies analyst Stephanie Wissink wrote in a annotation Wed. Wissink reiterated her Buy rating on Chewy and $100 cost target.

Chewy shares currently trade effectually $80.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance . Follow Sozzi on Twitter @BrianSozzi and on LinkedIn .

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Source: https://finance.yahoo.com/news/covid-19-pandemic-has-forever-changed-the-pet-products-business-chewy-ceo-175910941.html

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