Chewy reported a wider-than-expected fiscal-second-quarter loss, thereby sending its shares lower on Wednesday.
For the three months ended Aug. 4, the online retailer of pet food & products reported a loss of - 21 cents a share, worse than analysts’ estimate of -11 cents (based on FactSet). The loss was sharper than the year-ago quarter’s -16 cents a share.
Sales increased +43% year-over-year to $1.15 billion in the quarter. Analysts were expecting revenue of $1.13 billion, according to FactSet.
For the fiscal third-quarter, Chewy expects sales to come in between $1.19 billion and $1.21 billion, a year-over-year increase of 36% to 38%. Analysts’ had predicted sales of $1.16 billion.