Chewy is one of the most well-known online pet product retailers used by many pet owners to find food, treats, and various other products for their pets.
The company gained prominence during the pandemic when many pet owners started to worry whether they would be able to provide their pets with food and other products. So Chewy and other online companies provided them with necessary products and security.
And although they are still going strong, it doesn’t show in their stock value.
In 2021, they had a good year, and their stocks reached record highs, only to plummet in 2022. Between April 2021 and April 2022, Chewy’s stocks have fallen by almost 50%, while from June 2021 to June 2022, they’ve lost more than 60% of their value.
While their stocks are losing their value, their revenue is constantly growing. In 2021, the revenue increased by 24%, while as of May 2022, the revenue is 13.73% higher than that.
This revenue increase is mainly fueled by 1.46 million new customers who have chosen to trust Chewy.
But, although there’s an increase in revenue, Chewy is going through some issues. Like many other pet product retailers, Chewy has problems acquiring products due to supply issues.
Supply issues significantly increased since the beginning of the Russian-Ukrainian war, which led to further ingredient shortages.
Other problems, like growing inflation, are also impacting the whole industry, and it’s unlikely that Chewy will be an exception.