#6 - Chewy.Com (NYSE:CHWY)
Chewy.com is perhaps the most unique story in the retail world today. Situated at the convergence of multiple trends, the company is a pure-play on eCommerce and petcare. eCommerce you know about. It was growing double-digits before the pandemic and now looking at triple-digit YOY gains.
If you didn’t know, pet care was growing at a mid to high-single-digit pace before the pandemic, and that trend has accelerated too. People love their pets. Americans are owning more pets than ever before and spending more per pet as they become entrenched in our families.
Chewy.com hasn’t reported for the fiscal 2nd quarter yet but don’t be surprised when it does. The company reported near 50% YOY growth in the first quarter, ended May 3rd, and the data since suggests growth has only accelerated. The data from Bank Of America has eCommerce sales tracking roughly 75% above the previous year across all categories with total penetration near 20%.
About Chewy
Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.
Read More - Current Price
- $34.89
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $31.65 (9.3% Downside)
