Chewy announces first quarther 2020 results
Chewy had a strong start to 2020 with first quarter net sales increasing 46 percent year-over-year and gross margins expanding 50 basis points. They also achieved a significant milestone by delivering their first ever quarter of positive adjusted EBITDA
Fiscal Q1 2020 Highlights:
• Net sales of $1.62 billion grew 46 percent year-over-year
• Gross margin of 23.4 percent expanded 50 basis points year-over-year
• Net loss of $47.9 million, including share-based compensation expense of $42.3 million
• Net margin of (3.0) percent declined 30 basis points year-over-year attributable to share-based compensation expense in the period
• Adjusted EBITDA (1) of $3.4 million improved 122 percent year-over-year
• Adjusted EBITDA margin (1) of 0.2 percent improved 160 basis points year-over-year
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