Wed, Mar 26, 11:30 AM (32 days ago)
### Summary of Chewy, Inc. (CHWY) 2024 Annual Report **Financial Performance:** - **Revenue:** $11.9 billion, up 6.4% from 2023. - **Net Income:** $392.7 million, a significant increase from $39.6 million in 2023. - **Earnings per Share (EPS):** $0.93 basic and $0.91 diluted. - **Adjusted EBITDA:** $570.5 million, up 55% from 2023. - **Adjusted Net Income:** $446.8 million, up 50.8% from 2023. **Operating Expenses:** - **Selling, General, and Administrative (SG&A):** $2.6 billion, up 4.4% from 2023. - **Advertising and Marketing:** $804.1 million, up 8.3% from 2023. **Strategic Overview:** - **Growth Strategy:** Focus on increasing customer base, expanding product offerings, and enhancing customer engagement. - **Technological and Operational Efficiencies:** Investing in technology, automation, and product innovation to scale platforms and improve profitability. - **Private Brands:** Growing private brands through new launches and expansion of existing brands. - **Pet Healthcare:** Expanding into pet healthcare services, including telehealth and veterinary clinics. **Future Outlook:** - **Market Position:** Continues to be a leading pet e-tailer with a strong brand and customer loyalty. - **Growth Opportunities:** Expansion into new markets, including Canada, and potential international markets. - **Risk Factors:** Includes supply chain disruptions, economic conditions, and competition. **Financial Condition:** - **Cash and Cash Equivalents:** $595.8 million as of February 2, 2025. - **Marketable Securities:** $0.9 million as of February 2, 2025. - **Revolving Credit Facility:** $782.6 million of borrowing capacity under the ABL Credit Facility as of February 2, 2025. **Market Position Changes:** - **Customer Base:** 20.5 million active customers as of February 2, 2025. - **Net Sales per Active Customer:** $578, up 4.1% from 2023. **Risk Factors:** - **Supply Chain Disruptions:** Potential disruptions in the supply chain due to natural disasters, pandemics, or other events. - **Economic Conditions:** Sensitivity to macroeconomic conditions such as inflation and interest rates. - **Competition:** Strong competition in the pet products and services industry. **Note:** This summary is based on the provided text and does not include all details from the annual report. For a complete understanding, please refer to the full document.