Quarterly ResultJun 10, 2026, 07:36 AM
Chewy Q1 Net Sales $3.36B, Net Income $94.8M; Acquires SmartPak
AI Summary
Chewy, Inc. reported its first-quarter results for the period ended May 3, 2026, with net sales increasing to $3,357.2 million from $3,116.0 million in the prior year. Net income rose to $94.8 million, or $0.23 per diluted share, up from $62.4 million, or $0.15 per diluted share, year-over-year. The company also completed the acquisition of SmartPak Equine, LLC for $174.8 million and repurchased $200 million of its common stock during the quarter. The balance sheet shows a decrease in total assets and a significant increase in goodwill, largely attributed to the SmartPak acquisition.
Key Highlights
- Chewy reported net sales of $3,357.2 million for the thirteen weeks ended May 3, 2026, an increase from $3,116.0 million in the prior year period.
- Net income for the thirteen weeks ended May 3, 2026, was $94.8 million, or $0.23 per diluted share, compared to $62.4 million, or $0.15 per diluted share, in the prior year period.
- The company repurchased 7,599,226 shares of common stock for $200 million during the thirteen weeks ended May 3, 2026.
- Chewy completed the acquisition of SmartPak Equine, LLC on February 2, 2026, for $174.8 million in cash.
- Total assets decreased to $3,303.7 million as of May 3, 2026, from $3,366.4 million as of February 1, 2026.
- Inventories increased to $1,007.9 million as of May 3, 2026, from $864.8 million as of February 1, 2026.
- Goodwill increased significantly to $113.2 million as of May 3, 2026, from $39.4 million as of February 1, 2026, primarily due to the SmartPak acquisition.
Price Impact
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