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Recent Articles

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Chewy reports Q2 net income swings to US$22.3M from a net loss of US$16.7M last year; net sales rise 12.8% year-over-year to US$2.43B from US$2.16B

International pet care brand LuckyTail completes acquisition by Grove in all-cash transaction to help Grove expand to new product lines in US, international markets; brand offers grooming, nutritional products on Amazon, Chewy and its own e-commerce store

Chewy announces nationwide expansion of its pet wellness and insurance offering, CarePlus; benefits include 100% of costs covered for eligible prescription medication, supplement and veterinary diet food purchases on Chewy.com and telehealth services

Wedbush downgrades Chewy to neutral from outperform but raises target by US$9 to US$44, citing anecdotal evidence that Chewy was experiencing higher churn rate with recently acquired customers, which suggests potential weakening in consumer spending

Wedbush upgrades Chewy to outperform from neutral and raises target by US$5 to US$35, noting 'relatively favorable' dynamics in pet food market, e-commerce should start to tick up and customer churn should abate materially in 2023

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