The company reported a net income of $22.2 million or $0.05 per share for the April quarter, which is higher than the $18.5 million or $0.04 per share profit achieved in the same period of last year.
The bottom line benefitted from a 15% increase in net sales to $2.78 billion. The management expects second-quarter 2023 sales to be in the range of $2.75 billion to $2.77 billion. The forecast for full-year sales is $11.15-11.35 billion.
“The superior value proposition of the Chewy brand continues to resonate, and our team continues to demonstrate operating discipline and high-quality execution,” said Sumit Singh, chief executive officer of Chewy.
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