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Dania Beach, Florida-headquartered Chewy operates a well-known e-commerce platform, marketing pet products, supplies as well as medications. Consumers have access to more than 2,000 brands and 45,000 items, including Chewy’s own brands. Its current market capitalization stands at $34 billion.
On March 30, Chewy announced robust Q4 and full-year metrics. The novel coronavirus pandemic provided tailwinds for the group’s sales, which reached $7.15 billion in FY20, up 47% year-over-year (YoY). During the year, this top player in the pet space registered 5.7 million new customers, or pet parents. Now it has more than 19 million shoppers. Quarterly net sales came at $2.04 billion, up 51% YoY. Investors were delighted to see an adjusted profit for the first time. They were expecting a loss as in previous quarters.