Chewy jumps after beating expectations for profit and sales

Investing.com -- Chewy Inc (NYSE:CHWY) stock was rising after-hours after it beat expectations on profit and revenue.

The pet product retailer reported adjusted profit of 15 cents a share on revenue of $2.78 billion, up 14.3%. Analysts expected a loss of 5 cents a share on revenue of $2.76 billion.

Shares were up 4% in after-hours trading. They are down 26% so far this year.

Chewy said its gross margin of 28.3% was up 20 basis points from the same time last year.

“We delivered solid results in Q2 across both topline and profitability, with 14% growth exceeding guidance,” said CEO Sumit Singh. “Chewy once again gained share as our customers recognize the power of our personalized Autoship service, best-in-class healthcare experience, and overall value proposition as key differentiators, resulting in robust ordering behavior, which in turn is driving our strong performance.”

Chewy sees third quarter net sales of $2.74 billion to $2.76 billion. It sees full year net sales of $11.15 billion to $11.35 billion.