Chewy’s CEO Says Pets Rule, But Market’s in the Doghouse
Chewy’s Strong Q1 Shows Pet Parents Are Still Spending, But Wall Street Wants More

Chewy, Inc. (NYSE: CHWY) is wagging its tail with confidence, as CEO Sumit Singh boldly declared no signs of consumer weakness at the online pet supplies giant, even as the stock took a 12.1% hit on Wednesday. With first-quarter results beating expectations and Autoship sales soaring, is the market’s reaction just a case of chasing its own tail? Let’s dig into the numbers, the CEO’s bark, and why investors might be barking up the wrong tree.
Chewy’s Q1: A Treat-Filled Report Card
Chewy’s first-quarter 2025 earnings were nothing to growl about. The company reported net sales of $3.12 billion, an 8.3% year-over-year leap, surpassing its own guidance of $3.06 billion to $3.09 billion and analyst estimates of $3.08 billion Chewy Announces First Quarter 2025 Financial Results. Adjusted net income climbed to $148.9 million, up $11.8 million from last year, with adjusted earnings per share at $0.36, beating the $0.32 Wall Street expected Chewy Stock Tumbles as Net Income Falls Short of Estimates.
But here’s where the fur starts to fly: GAAP net income came in at $62.4 million, or $0.15 per share, missing analyst forecasts of $68.9 million, or $0.16 per share. Adjusted EBITDA, however, was a meaty $192.7 million, up 18% year over year, with a record-breaking 6.2% margin Pet Food Retailer Chewy Clocks Q1 Earnings Beat, Guides .... Autoship sales, the recurring revenue golden retriever, jumped 14.8%, hitting an all-time high as a percentage of total sales.
