Chewy said its Vet Care business delivered triple-digit revenue growth in the second quarter as its clinic portfolio continues to scale in line with the economic framework management outlined at the company's recent investor event. The company said Chewy Vet Care is posting strong customer satisfaction while maintaining attractive veterinarian productivity and retention, and is demonstrating compelling four-wall economics. Chewy added that the business is driving incremental engagement across its broader ecosystem, and that it is encouraged by progress across Chewy Health, supported by the early performance of Modern Animal. Management believes Chewy Health can deepen customer engagement and expand wallet share while becoming an increasingly meaningful contributor to Chewy's long-term growth and earnings power, and said its outlook does not depend on a meaningful recovery in the broader pet category. Chewy carries a Zacks Rank #4 (Sell), and its shares have lost 28% over the past six months against industry growth of 16.7%.
Chewy IncChewy Vet Care clinics posted triple-digit revenue growth in Q2, driving incremental engagement across its ecosystem
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