CNBC Television Chewy shares under pressure after Q2 earnings

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «CNBC Television» (@CNBCtelevision). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: Chewy misses on revenue for the second quarter and Josh Brown examines the pet care market, calling Chewy “the best name in that space.“ For access to live and exclusive video from CNBC subscribe to CNBC PRO: Shares of Chewy sank in extended trading Wednesday after the online pet retailer’s second-quarter results and third-quarter outlook fell short of Wall Street forecasts. The stock was down more than 11% at one point, before parring some of the losses to trade down roughly 9% at 5:30 p.m. in New York. Chewy saw revenue rise nearly 27% on a year-over-year basis to $ billion in the second quarter, but analysts were expecting sales of $ billion, according to Refinitiv. The company also lost 4 cents per share, compared with estimates of a loss of 2 cents per share, according to Refinitiv. Chewy’s third-quarter sales guidance of $ billion to $ billion also came in slightly lighter than expectations. Analysts projected $ billion in third-quarter sales, according to StreetAccount. In an interview Wednesday on CNBC’s “Closing Bell,” Chewy CEO Sumit Singh said he wasn’t worried about the stock’s decline in after-hours trading, stressing he was pleased with the quarter and the company’s future. “We are really bullish about the business,” he said. Chewy has benefited from the coronavirus pandemic in two ways: a surge online shopping in general and a booming pet business as Americans spent more time at home, leading to increased pet adoption and spending on animals. Singh said it was expected that the company’s growth rate would moderate as the economy reopened and consumer spending shifted back toward activities like travel. For example, in the second quarter last year, Chewy’s posted a 47% year-over-year jump in sales, compared with the most-recent quarter’s roughly 27% increase. Even though top-line revenue growth has decelerated, Singh said other important metrics for the company are stronger than ever. “Customer spending on our platform is at an all-time high,” Singh said. In the second quarter, Chewy’s net sales per active customer was $404, up 13.5% compared with the same period last year. Active customers of 20.1 million in the second quarter was 21.1% higher than in the second quarter in 2020. “So what does that tell you? More customers. They’re spending more. They’re staying with us longer, and we continue to deliver very strong comps,” Singh said. “Overall, we’re very pleased with the performance of the business and the way that the teams are operating amidst this difficult environment.” » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBCTV