Chewy posts triple-digit Vet Care revenue growth

Chewy announced that its Vet Care clinic portfolio delivered triple-digit revenue growth in the second quarter. The business is scaling in line with the economic framework management presented at its recent investor event.

The company reported strong customer satisfaction, high veterinarian productivity and retention, and solid four-wall clinic economics. Chewy Vet Care is also driving higher engagement across the company's wider platform, alongside early results from Modern Animal under the Chewy Health division.

Management stated that its outlook does not rely on a broad recovery in the pet sector. Instead, the company expects Chewy Health to deepen customer wallet share and contribute to long-term earnings.

Chewy trades at a forward price-to-earnings ratio of 19.42, compared with an industry average of 20.23. The Zacks Consensus Estimate projects earnings growth of 20.5% for the current fiscal year and 21.4% for the next fiscal year.