Chewy Posts 7.3% Revenue Growth, Raises Full-Year Outlook
Event summary
- Chewy reported $3.33 billion in net sales for Q2 2026, up 7.3% YoY.
- Adjusted EBITDA margin improved to 6.8%, exceeding expectations.
- Net income rose to $80.5 million, with a 40 basis point increase in net margin.
- Active customers grew by 3.8% YoY to 21.7 million.
- Company raised full-year revenue and profitability outlook.
The big picture
Chewy's Q2 2026 results reflect steady growth in a competitive e-commerce pet products market. The company's ability to improve profitability while expanding its customer base positions it favorably against traditional retailers and digital disruptors. The raised full-year outlook signals confidence in its strategic investments and operational execution.
What we're watching
- Customer Retention
- Whether Chewy can sustain its 3.8% active customer growth amid competitive pressures.
- Operational Efficiency
- How the company will balance investment in growth initiatives with margin expansion.
- Market Expansion
- The pace at which Chewy integrates and leverages recent acquisitions like SmartPak and Modern Animal.