Chewy Inc. (NYSE: CHWY) swung to a surprise profit in the fiscal fourth quarter, despite the ongoing Coronavirus pandemic that has so far infected more than 31 million people in the United States and caused over half a million deaths.
Chewy shares that you can learn to buy online here were reported just under 10% up in after-hours trading on Tuesday. Including the price action, the stock is now exchanging hands at £63.98 per share. In comparison, the Dania Beach-headquartered company had started the year 2021 at a slightly higher £64.70 per share.
Chewy’s Q4 financial results versus analysts’ estimates
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Chewy said that its net income in the fourth quarter printed at £15.28 million that translates to 3.64 pence per share. In the same quarter last year, it had posted £44.32 million of loss, or 10.92 pence per share.
The retailer of pet-related products, including pet food, said that it generated £1.48 billion of revenue in Q4 versus the year-ago figure of a sharply lower £980 million. In the prior quarter (Q3), Chewy had registered a 45% increase in its sales.
According to FactSet, experts had forecast the company to report £1.43 billion of revenue in the recent quarter. They had expected the company to see 7.28 pence of loss per share in the fourth quarter.
In separate news from the United States, DraftKings acquired VSiN for an undisclosed amount on Tuesday.
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Chewy’s guidance for the full financial year
For the fiscal first quarter, Chewy now forecasts up to £1.55 billion of revenue. It expects its full-year revenue to fall in the range of £6.44 billion to £6.51 billion. In comparison, analysts are calling for £1.51 billion of revenue in the current quarter and £6.44 billion of revenue for the full financial year.
CEO Sumit Singh commented on the earnings report on Tuesday and said:
“Years of preparation and focus have positioned us as the Internet’s preeminent neighbourhood pet store and a leading pure-play e-commerce company in the pet space. We look forward to a future marked by ongoing innovation and to winning customers’ hearts and minds as we grow to become the most trusted and convenient online destination for pet parents (and partners) everywhere.”
Chewy performed massively upbeat in the stock market last year with an annual gain of close to 200%. At the time of writing, it is valued at £24.14 billion.