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Why Chewy Stock Got Bit Today

TheMotleyFool

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Online pet products retailer Chewy (NYSE: CHWY) reported its second-quarter 2021 earnings last night, and shareholders were left whimpering. Chewy shares were down more than 10% Thursday morning and remained down almost 9% as of 12:20 p.m. EDT.

The stock dropped due to three items from the quarterly report. The company reported a larger-than-expected quarterly loss, missed analyst estimates on revenue, and provided a disappointing outlook. Though sales grew about 27% compared to the year-ago period, management disappointed investors by holding its full-year guidance steady, anticipating sales growth of about 25.5% for the full year compared to 2020.

Source Fool.com

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