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Chewy, Inc. (CHWY) is the largest pure-play pet e-tailer in the United States, offering a wide range of products and services for pets. The company provides approximately 115,000 to 130,000 products through its websites and mobile applications, including pet food, treats, supplies, medications, health and wellness products, pet insurance, and other pet-related services. Chewy emphasizes a customer-centric approach, delivering convenience, competitive pricing, and personalized service to pet parents nationwide.
- Consumables - Offers pet food and treats, catering to the nutritional needs of pets.
- Other - Provides healthcare products, pharmacy services, and other pet-related services, including pet insurance and wellness solutions.
- Hardgoods - Supplies pet accessories, toys, and other non-food items to enhance pet care and lifestyle.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Sumit Singh ExecutiveBoard | Chief Executive Officer | Director at Booking Holdings Inc. since April 2022; Member of University of Texas Engineering Advisory Board | Sumit Singh is the CEO of Chewy, Inc. since March 2018. He previously served as COO from September 2017 to March 2018 and has been a Director on Chewy's Board since April 2019. | View Report → |
David Reeder Executive | Chief Financial Officer (CFO) | Board Member of Alphawave IP Group plc; Board Member of Entegris, Inc. | David Reeder has been serving as CFO of Chewy, Inc. since February 14, 2024. He is also the Principal Financial Officer at Chewy and holds board positions at Alphawave IP Group plc (since September 2023) and Entegris, Inc. (since March 2024). | |
Satish Mehta Executive | Chief Technology Officer | Board of Directors, Express, Inc. since December 2022 | Satish Mehta is the Chief Technology Officer at Chewy since June 2018, and he previously held executive roles at UnitedHealth Group, Staples Inc., and Yahoo Inc. | |
William Billings Executive | Chief Accounting Officer (CAO) and Principal Accounting Officer (PAO) | Director at Knightscope, Inc. (since February 2024) ; Director at Sucro Sourcing LLC (since May 2024) | William Billings is the Chief Accounting Officer (CAO) and Principal Accounting Officer (PAO) at Chewy, Inc. since August 12, 2024. He previously held executive roles at GlobalFoundries, Inc., Coursera, Inc., and Airbnb, Inc.. | |
David Leland Board | Director | Partner and Head of Capital Markets at BC Partners; CEO of BC Partners Securities LLC; Board Member at GardaWorld Corporation | David Leland serves as a Director at Chewy, Inc. since September 10, 2019. He has extensive experience in finance, having held leadership roles at Citigroup and currently serving as Partner and Head of Capital Markets at BC Partners and CEO of BC Partners Securities LLC. | |
Deborah Ellinger Board | Class II director | Senior Advisor at Boston Consulting Group | Deborah Ellinger has served as a Class II director at CHWY since February 21, 2025. She brings extensive leadership experience, including her current role as Senior Advisor at Boston Consulting Group since 2018. | |
Fahim Ahmed Board | Director | Partner at BC Partners; Chief Operating Officer at BC Partners; Member of the Management Committee at BC Partners; Board member of Appgate, Inc.; Board member of Presidio Inc.; Board member of PetSmart LLC | Fahim Ahmed has served as a Director at Chewy, Inc. since April 29, 2019, and is also a member of both the Compensation Committee and the Nominating and Corporate Governance Committee. | |
James A. Star Board | Director | Trustee of Equity Commonwealth; Director of Atreides Foundation Fund Ltd; Director of V-Square Quantitative Management LLC | James A. Star serves as a Director at Chewy, Inc. since June 13, 2019 and as a member of the Audit Committee since May 29, 2020. He has extensive experience in investment management, corporate governance, and finance with active roles outside Chewy, including trustee and directorship positions. | |
James Nelson Board | Director | Senior Advisor at MGM Resorts International | James Nelson has been serving as CHWY Director since July 19, 2021 and as Chairperson of the Audit Committee since September 8, 2021. He also serves as Senior Advisor at MGM Resorts International since March 2024. | |
Kristine Dickson Board | Director | CFO of Lead Bank | Kristine Dickson serves as a Director at CHWY since July 14, 2021 and is a member of the Audit Committee. Previously, she has served as CFO at Lead Bank since September 2022 and as CFO at Lehman Brothers Holdings from 2016 to 2022. | |
Lisa Sibenac Board | Director | Managing Director at BC Partners in Portfolio Operations; Board member at Appgate; Board member at Madison Logic, Inc. | Lisa Sibenac has served as a Director on Chewy's board since April 29, 2019. She has extensive leadership experience, including her role as Managing Director at BC Partners in Portfolio Operations since 2017 and active board memberships at Appgate since May 2022 and Madison Logic, Inc. since November 2023. | |
Marco Castelli Board | Director | Partner at BC Partners LLP; Board member at Industria Macchine Automatiche S.p.A.; Board member at Forno d’Asolo S.p.A.; Board member at DentalPro; Board member at Cigierre – Compagnia Generale Ristorazione S.p.A. | Marco Castelli serves as a Class I Director at CHWY since May 23, 2022. He brings extensive experience from his role as a partner at BC Partners LLP and his background as a management consultant at Bain & Company. | |
Martin H. Nesbitt Board | Director at Chewy, Inc. | Co-Chief Executive Officer of The Vistria Group, LLC; Board Member of American Airlines Group Inc.; Board Member of CenterPoint Energy, Inc.; Trustee of the Chicago Museum of Contemporary Art | Martin H. Nesbitt serves as a Director at Chewy, Inc. since September 21, 2020. He is also active as Co-Chief Executive Officer of The Vistria Group, LLC since 2012, and holds board positions at American Airlines Group Inc. and CenterPoint Energy, Inc., along with serving as a trustee for the Chicago Museum of Contemporary Art. | |
Mathieu Bigand Board | Director | Principal/Director at BC Partners ; Board member at Women’s Care Enterprises, LLC ; Board member at Presidio | Mathieu Bigand serves as a Director at Chewy since September 14, 2022. He brings extensive experience in accounting, international business, venture capital, and has worked across e-commerce, healthcare, and retail industries. | |
Michael Chang Board | Director | Partner at BC Partners; Board Member at Zest Dental Solutions; Board Member at Women's Care Enterprises, LLC; Board Member at CeramTec GmbH; Board Member at PetSmart | Michael Chang has served as a Director at Chewy, Inc. since April 29, 2019. He is also a Partner at BC Partners since 2009 and holds board positions at Zest Dental Solutions, Women's Care Enterprises, LLC, CeramTec GmbH, and PetSmart. | |
Raymond Svider Board | Chairperson of the Board | Partner and Chairman of BC Partners; Non-Executive Chairman of PetSmart; Chairman of Valtech SE; Chairman of Keter Group Holding Sarl; Chairman of Madison Logic, Inc. | Raymond Svider has served as Chairperson of the Board at Chewy, Inc. since April 29, 2019 and also chairs the Compensation and Nominating and Corporate Governance Committees since June 13, 2019. He brings extensive leadership and governance experience from his active roles in investment and board positions at renowned companies. |
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Given your claim of growing 2x the market rate, what specific evidence supports your confidence in sustaining this outperformance beyond Q4's seasonal benefits, particularly as competitors also enhance their e-commerce capabilities?
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While sponsored ads contributed significantly to gross margin expansion in 2024, what specific metrics or KPIs demonstrate you're on track to reach your 3% of net sales target, and what obstacles might prevent achieving this goal?
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Your active customer growth returned after 8 quarters of decline, but at what customer acquisition cost, and how sustainable is this growth given potential saturation in your core demographic segments?
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Despite your optimism about automation, you've only reached 40-50% volume through automated facilities, well below your long-term 70-80% target – what specific bottlenecks are slowing this transition and how will you address them?
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Your guidance assumes minimal pricing impact for 2025, but how do you reconcile this with potential competitive pressures and consumer trading down to private label or lower-priced alternatives in a still-challenged economic environment?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Petabyte Technology Inc. | 2022 | Finalized on November 7, 2022, the acquisition involved a purchase price of $43,281,000 (net cash paid of $40,400,000) and included assets such as cash, accounts receivable, $39.4M goodwill, and developed technology worth $1.5M (amortized over 3 years). This acquisition strategically enhances the Company's pet healthcare solutions by incorporating Petabyte’s cloud-based technology for the veterinary sector, though the purchase price allocation remains preliminary. |
Recent press releases and 8-K filings for CHWY.
- Chewy, Inc. filed an 8-K report effective April 1, 2025 to disclose material events, including developments related to its financing arrangements.
- The filing highlights an amendment to the ABL Credit Agreement, detailed in Exhibit 10.1, involving Chewy, its lenders, and Wells Fargo Bank as the administrative agent.
- The report confirms Chewy’s listing on the New York Stock Exchange under ticker CHWY, reinforcing its public trading status.
- Q4 2025 results highlighted robust top-line performance with net sales of $3.25 billion in the quarter and $11.86 billion for full year 2024, driven by strong active customer growth (20.5 million) and solid Autoship performance.
- Profitability improved with FY 2024 adjusted EBITDA margin reaching 4.8%, alongside significant free cash flow generation of $452.5 million, underscoring effective operating leverage.
- The company reinforced its forward guidance for 2025, expecting net sales between $12.3 billion and $12.45 billion and a full year adjusted EBITDA margin in the range of 5.4% to 5.7%, reflecting a strategy focused on share gains and margin expansion.
- Strategic investments continue with planned expansion in healthcare and vet clinics (8 to 10 new openings), complemented by ongoing share repurchase activities to enhance shareholder value.
- Q4 Net Sales reached $3,247M with a strong YoY growth of 14.9%, while Adjusted EBITDA came in at $125M with a margin of 3.8%.
- Autoship Customer Sales totaled $2,617M in Q4, highlighting robust recurring demand.
- The company reported returning $943M in capital to shareholders in FY24 and provided guidance for FY25 with expected net sales of $12.30B - $12.45B and Q1 net sales between $3.06B and $3.09B.
- Q4 net sales reached $3.25 billion, up 14.9% year-over-year, with a net income of $22.8 million and an adjusted EBITDA of $124.5 million.
- For the full year, net sales grew 6.4% to $11.86 billion, while net income was $392.7 million and adjusted EBITDA increased to $570.5 million.
- Chewy exceeded prior expectations by achieving higher-than-anticipated active customer growth, improved revenue guidance, and a 140 bps EBITDA margin improvement, which has strengthened profitability and free cash flow generation.
- Management emphasized industry normalization trends, citing the transition to online channels and pet premiumization as key tailwinds for the long-term growth of the sector.
- The company highlighted the launch and expansion of its vet clinics (now 8 in number), which are delivering strong new customer acquisition and retail conversion, albeit with realistic annual expansion limits (approximately 20–30 clinics due to operational constraints).
- Strategic initiatives such as enhanced sponsored ads capabilities, automated fulfillment improvements, and consistent marketing spend (around 6.7%-6.8% of net sales) are instrumental in driving margin expansion and operational efficiency.