Chewy, Inc. (NYSE: CHWY) reported its third-quarter financial results on December 4, 2024, revealing an adjusted earnings per share (EPS) of $0.20, which fell short of the consensus estimate of $0.23. Despite the company achieving a 4.8% year-over-year increase in net sales to $2.88 billion and a gross margin improvement of 80 basis points to 29.3%, the earnings miss appears to have weighed on investor sentiment. The company's net income for the quarter was $3.9 million, with a net margin of 0.1%, reflecting a 140 basis point increase year-over-year.
The market's reaction to Chewy's earnings report has been negative, as reflected in the pre-market trading activity. Chewy's stock is currently priced at $32.27, down 4.02% from the previous close of $33.62.