Cleveland Research said in note to investors earlier that its checks suggests Q3 sales finished slightly below consensus at Chewy (CHWY), with sales growth in October appearing to moderate compared to the trend in August and September. Channel feedback suggests Chewy was lapping elevated promotional activity in October that led to some softer sales growth to finish the quarter, the firm told investors. Chewy shares are down $1.63, or nearly 5%, to $34.24 in early Friday trading.
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Read More on CHWY:
- Chewy price target raised to $28 from $24 at Deutsche Bank
- Chewy (CHWY) Stock Rises on Double Upgrade from Bank of America
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- Target downgraded, Chewy upgraded: Wall Street’s top analyst calls
- Chewy upgraded to Buy from Underperform at BofA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
