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Chewy reports surprise Q3 profit

By Yasin Ebrahim

Investing.com -- Chewy (NYSE:CHWY) reported upbeat full-year revenue guidance Thursday after third-quarter results showed an unexpected profit.

The company reported EPS of $0.01 on revenue of $2.53 billion, topping Wall Street estimates for a loss of $0.09 on revenue of $2.46B.

The unexpected profit comes as the company said customer retention rates remained stable, and gross margin continued to expand.

Third quarter gross margin expanded 200 basis points year over year, to 28.4%. 

Looking ahead the company guided net sales of $2.63B to $2.65B, and full-year revenue was lifted to a range of $10.02B to $10.04B from $9.9B to $10.00B previously.  

The company also lifted its full-year adjusted earnings before interest, taxes, depreciation, and amortization to a 2.3%-to-1.4% range, above the prior 1.7% to 2% range.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.