Chewy Sees Q1 Net Sales $2.84B-$2.86B vs $2.89B Est., Sees FY24 Net Sales $11.6B-$11.8B vs $11.12B Est.
Portfolio Pulse from Benzinga Newsdesk
Chewy projects Q1 net sales to be between $2.84B and $2.86B, falling short of the estimated $2.89B. However, for FY24, Chewy anticipates net sales to range from $11.6B to $11.8B, surpassing the estimated $11.12B.
March 20, 2024 | 8:14 pm
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NEUTRAL IMPACT
Chewy's Q1 sales projection is below expectations, but its full-year forecast exceeds analyst estimates.
The short-term impact on Chewy's stock might be mixed due to the lower-than-expected Q1 sales forecast, which could disappoint investors. However, the higher-than-expected full-year sales forecast for FY24 indicates strong growth prospects, potentially offsetting the negative short-term sentiment. The mixed nature of the news, with both a short-term miss and a long-term beat, makes the overall short-term impact neutral as investors digest the implications.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100