ClearBridge Investments stated in its second-quarter 2026 investor letter that concerns about Chewy being an AI loser are overstated, citing the online pet retailer's competitive positioning, customer purchasing dynamics, and margin expansion opportunities. The comments came as part of the firm's SMID Cap Growth Strategy commentary, which noted that Chewy shares were pressured by mixed end-market growth trends and AI-related fears despite solid company-specific execution. Chewy closed at $20.88 per share on July 10, 2026, with a market capitalization of $8.55 billion, and posted a one-month return of 7.96% while losing 44.78% over the past 52 weeks.
Chewy IncClearBridge says concerns about Chewy being an AI loser are overstated, citing competitive positioning and customer purchasing dynamics
Franklin Resources Inc