Chewy, Inc. has recently released its 10-Q report for the quarterly period ended October 27, 2024. Chewy, together with its subsidiaries, is a pure play e-commerce business in the United States, providing pet food, treats, supplies, medications, and other pet-health products, as well as pet services for various animals through its retail websites and mobile applications.
In the 10-Q report, Chewy reported net sales of $2,877,635,000 for the 13 weeks ended October 27, 2024, which represents a 4.8% increase compared to the same period in the previous year. The company's net income for the same period was $3,932,000, marking a significant improvement from a loss of $35,372,000 in the comparable period.
Chewy's adjusted EBITDA for the 13 weeks ended October 27, 2024, was $138,245,000, reflecting a substantial increase of 67.4% compared to the same period in the previous year. The company's adjusted EBITDA margin for the same period was 4.8%, up from 3.0% in the prior year, indicating improved operational efficiency.
The company's active customers remained relatively stable at 20,160,000 for the 13 weeks ended October 27, 2024, compared to 20,266,000 in the same period in the previous year. Chewy's net sales per active customer increased by 4.2% to $567 in the 13 weeks ended October 27, 2024, compared to $544 in the same period in the prior year.
Chewy also reported strong free cash flow of $151,767,000 for the 13 weeks ended October 27, 2024, representing a significant increase of 218.2% from the same period in the prior year. Additionally, the company's autoship customer sales increased by 8.7% to $2,300,928,000 for the 13 weeks ended October 27, 2024, compared to $2,116,458,000 in the same period in the previous year.
The company's fiscal year ends on the Sunday closest to January 31 of each year. For the 2024 fiscal year, it ends on February 2, 2025, and is a 53-week year. Chewy's 2023 fiscal year ended on January 28, 2024, and was a 52-week year.
Chewy also provided non-GAAP financial measures in its 10-Q report, including adjusted EBITDA and adjusted net income. Adjusted EBITDA, which excludes certain expenses from net income, is used by the company's management and board of directors to evaluate operating performance and make strategic decisions. The company reported adjusted EBITDA of $138,245,000 for the 13 weeks ended October 27, 2024, and adjusted net income of $84,922,000 for the same period.
Today the company's shares have moved -3.5% to a price of $32.43. If you want to know more, read the company's complete 10-Q report here.
