Chewy grows to $7.15 billion in revenue in 2020
In times of COVID, the American online pet retailer grew 47% with a gross margin of 25.5%.
During this time, the company’s results jumped to an all-time high.
Sumit Singh, Chief Executive Officer of Chewy: “2020 was an incredibly challenging and unpredictable year for all of us. During this time, Chewy performed exceptionally well and made significant strategic and operational progress. Specifically, we grew net sales by 47 percent year over year, increased our customer base by 43 percent year over year, delivered our first full year of positive adjusted EBITDA, and generated the company’s first quarter of positive net income in the fourth quarter of 2020,” said .