Pet products supplier Chewy (NYSE: CHWY) surpassed bottom and topline estimates for the second quarter of 2020. The company’s loss narrowed to 8 cents per share in Q2 from $0.21 in the prior-year quarter. Sales rose 47% to $1.7 billion. CHWY stock was up about 2% in the extended trading hours.
The key revenue drivers in the quarter were a 37.9% year-over-year increase in active customers and a 3.2% increase in net sales per active customer,
For the third quarter of fiscal 2020, Chewy expects sales to be between $1.70 billion and $1.72 billion, representing year-over-year growth of 38% to 40%.
For fiscal 2020, Chewy lifted its previously announced sales guidance. The company now expects FY20 sales to be between $6.775 billion and $6.825 billion compared to the previous sales outlook of $6.55 billion to $6.65 billion.
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