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Chewy, Inc. reported a 15% year-over-year revenue growth in its Hardgoods segment during Q2 of fiscal 2025, outpacing overall sales growth of 8.6%. The company raised its fiscal 2025 net sales guidance to between $12.5 billion and $12.6 billion, indicating a growth rate of 7-8% when adjusted for the previous year’s extra week. Key factors in this growth included the onboarding of over 1,500 new brands and enhancements in inventory management.
Despite Chewy’s strong performance, competitors were not as fortunate; Central Garden & Pet Company reported net sales of $961 million, down 4% year-over-year, while Petco Health and Wellness saw net sales of $1.49 billion, a decline of 2.3% year-over-year. Chewy’s gross margin improved by 90 basis points to 30.4%, indicating effective cost management and growing product economics.
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