If there's one consumer niche that is known for being recession proof, it's pet supplies. Yes, people often make big changes to their own grocery budgets during downturns. But they aren't as quick to shake up a pet's diet.
Yet Chewy (NYSE: CHWY) stock has dropped harder than the market this year despite showing solid sales growth through the early summer months. Let's take a look at whether that slump creates a golden buying opportunity for the e-commerce giant.
Chewy's last operating update contained none of the warning signs that might portend a big demand drop ahead. Sales growth slowed, to be sure. Chewy logged a 13% revenue boost in Q2, while investors had been seeing a 27% expansion pace in mid-2021.
Source Fool.com