Chewy Reports Strong Q2 Sales Growth and Adjusts Guidance
Retail Dive highlights key developments in the retail sector this week, including Chewy's strong second-quarter performance with a 7.3% increase in net sales to $3.3 billion. Excluding recent acquisitions, growth was still robust at 5.7%. Subscription Autoship sales rose by 9.3%, though CFO Chris Deppe noted slower treat sales due to reduced discretionary spending. Other notable updates include Rifle Paper Co.'s appointment of a new CEO and the political career shift of Helena Foulkes, former Hudson's Bay Company CEO, who won Rhode Island’s Democratic primary for governor with strong support on healthcare and housing. Temptations also announced an immersive cat bodega pop-up in New York City to celebrate its brand. Chewy raised full-year sales guidance to a range between $13.46 billion and $13.57 billion, reflecting confidence despite market challenges.
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