Chewy’s sales up by 14.5 per cent

The American online retailer Chewy has released its financial results for the third quarter of fiscal 2022, which ended on 30 October 2022. These show that net sales increased by 14.5 per cent compared with the previous year to 2.53 bn US dollars. The gross margin of 28.4 per cent also increased by comparison with the previous year. Chewy revealed net profits of 2.3 mio dollars including stock-based compensation expense of 46.1 mio dollars.

“The results for the third quarter show accelerated double-digit growth in sales, a continuing expansion of the gross margin and solid generation from free cash flow,” reports Chewy CEO Sumit Singh.