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Zoetis CEO Kristin Peck discusses how her business has benefited as people have started spending more time and money on their pets, and how people’s eating behaviors have disrupted herding operations. the business and how it might impact the business in the long run.
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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