Pandemic pets pay off for Chewy



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Chewy Inc. rose to fourth quarter profit as the online pet retailer reported more than $ 2 billion in sales and added customers amid the coronavirus pandemic.

Here’s what you need to know.

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PROFIT: Chewy rose to a profit of $ 21 million for the quarter ended Jan. 31 after losing $ 60.9 million a year earlier.RETURNED: Net sales reached $ 2.04 billion, from $ 1.35 billion a year earlier. Analysts were expecting $ 1.97 billion, above Chewy’s expected range of $ 1.94 to $ 1.96 billion.

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YEAR: Chewy ended the year with a loss of $ 92.5 million and net sales of $ 7.15 billion, compared with a loss of $ 252.4 million and revenue of 4, $ 85 billion a year earlier.PANDEMIC: The company has reported higher rates of pet ownership and a shift to online shopping during the pandemic.

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