Selling Chewy On That 'Sub Number' Is A 'Mistake,' Says Cramer

Benzinga2021-06-11

CNBC host Jim Cramer has advised investors not to sell their shares in Chewy Inc.(NYSE:CHWY) based on the online pet products company’s first-quarter earnings results.

What Happened: Cramer said on Twitter that selling shares of Chewy off that “sub number” is a “mistake.”

Chewy, on Thursday,reportedfirst-quarter results that beat analysts’ estimates. Net sales grew 31.7% year over year to $2.14 billion.

The company’s adjusted EBITDA (earnings before interest, taxes, amortization, and depreciation) for the quarter was $77.4 million, up from $3.4 million a year ago.

Why It Matters: Chewy’s CEO Sumit Singhsaidin March that the environment for online shopping for pet products remains "bright" and he believes recent momentum can be sustained. Chewy also expects to benefit from the increased adoption of pets by households.

In addition, Chewy has launched new initiatives such as health services for pets. In October last year, the companyannounced a nationwide expansionof a new telehealth service for pets.

Chewy was co-founded by Ryan Cohen, who currently serves as chairman at GameStop Corp.(NYSE:GME).

Price Action: Chewy shares closed more than 2% higher in Thursday’s trading at $79.35.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

爱睡的雇主
2021-06-12
爱睡的雇主
Hi
Tothemoonnn
2021-06-12
Tothemoonnn
Goooo
ckhing
2021-06-11
ckhing
Nice one
nicsohsayso
2021-06-11
nicsohsayso
Chew Cramer
JOSEPHCHAN07
2021-06-11
JOSEPHCHAN07
Chewy to the moon
- nicsohsayso:
  chewbakar
飙高音
2021-06-11
飙高音
[得意]

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