Chewy's Recent Crash Is an Opportunity in Disguise
Shares of Chewy (NYSE: CHWY) crashed 16% following the release of the company's fiscal 2021 fourth-quarter results on March 29 as investors were spooked by the online pet products retailer's slowing growth and larger-than-expected loss.
The company delivered Q4 revenue of $2.39 billion, up 17% over the prior year but slightly lower than the $2.4 billion consensus estimate. Chewy also swung to a net loss of $0.15 per share compared to earnings of $0.05 per share in the prior-year period. Wall Street was looking for a smaller loss of $0.08 per share.
Let's look at the reasons behind Chewy's predicament.
Source Fool.com
