Chewy Announces Fiscal First Quarter 2019 Financial Results

Chewy, Inc. (NYSE: CHWY) (“Chewy”), a trusted online destination for pet parents, has released its financial results for the first quarter of fiscal year 2019 ended May 5, 2019, and posted a letter to its shareholders on its investor relations website at https://investor.chewy.com.

Fiscal Q1 2019 Highlights:

• Net sales grew 45.2 percent year-over-year to $1.1 billion
• Gross margin of 22.9 percent improved 330 basis points year-over-year
• Net loss of $29.6 million improved 50.6 percent year-over-year
• Adjusted EBITDA⁽¹⁾ loss of $15.8 million improved 69.4 percent year-over-year
• Adjusted EBITDA margin⁽¹⁾ of (1.4) percent improved 530 basis points year-over-year

“We are pleased to report strong first quarter 2019 results as a newly public company with net sales growing 45 percent year-over-year, and gross margin increasing 330 basis points year-over-year,” said Sumit Singh, Chief Executive Officer of Chewy. “We will continue to innovate with a keen focus on delivering the best customer experience as we execute on our mission to become the most trusted and convenient online destination for pet parents.”

Chewy intends to make future announcements of material financial and other information through its investor relations website. Chewy will also, from time to time, disclose this information through press releases, filings with the Securities and Exchange Commission, conference calls or webcasts, as required by applicable law.

Management will host a conference call and webcast to discuss Chewy's financial results today at 5:00 pm ET.

Chewy Fiscal First Quarter 2019 Financial Results Conference Call
When: Thursday, July 18, 2019
Time: 5:00 pm ET
Conference ID: 8297103
Live Call: [phone] (US/Canada Toll-Free) or [phone] (International)
Replay: [phone] (US/Canada Toll-Free) or [phone] (International)
(The replay will be available approximately two hours after the completion of the live call until 11:59 pm ET on July 25, 2019.)
Webcast: https://investor.chewy.com

(1) Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. See “Non-GAAP Financial Measures” for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.

About Chewy

Our mission is to be the most trusted and convenient online destination for pet parents everywhere. We believe that we are the preeminent online source for pet products, supplies and prescriptions as a result of our broad selection of high-quality products, which we offer at competitive prices and deliver with an exceptional level of care and a personal touch. We continually develop innovative ways for our customers to engage with us, and partner with more than 1,600 of the best and most trusted brands in the pet industry to bring a high-bar, customer-centric experience to our customers.