Chewy Inc. (CHWY) Posts Impressive Q2 Results on Revenue Growth

Chewy Inc. (NYSE:CHWY) is one of the best defensive stocks to buy, according to Steve Cohen. On September 10, the company delivered solid second-quarter results characterized by sales coming in at the high end of the guidance range.

The company reported net sales of $3.1 billion, representing an 8.6% year-over-year increase, as gross margins improved by 90 basis points to 30.4%. Adjusted net income increased by $36.4 million year over year to $141 million, leading to adjusted earnings per share of $0.34, an increase of $0.10 year over year.

“Chewy’s differentiated value proposition was once again on display, with both active customers and share of wallet (NSPAC) growing 4.5% year over year to reach nearly 21 million customers and $591, respectively,” said Sumit Singh, CEO of Chewy.

Chewy Inc. (NYSE:CHWY) is an e-commerce company that sells pet products, supplies, and prescription medications online. It offers a wide selection of products, including pet food, toys, and healthcare items, along with services such as a pharmacy, insurance, and a vet telehealth option.

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Disclosure: None. This article is originally published at Insider Monkey.