Chewy Says People Are Now More Discerning on Where They Shop

Chewy beat Q2 sales and earnings expectations and said that high inflation is changing customer buying habits.

Hand holds a phone with the Chewy website displayed, while a black dog looks on from the background.
(Image credit: Gabby Jones/Bloomberg via Getty Images)

Chewy (CHWY) beat second-quarter sales and earnings expectations and said it believes high inflation is causing pet store customers to become more discerning on where they shop.

For the quarter ended July 30, Chewy reported earnings with net sales growth of $2.78 billion, up 14.3%, and adjusted net income of $63.3 million, up 1.9%, compared to the same year-ago period.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.