CHWY Chewy (CHWY) Q1 FY27 earnings call
Chewy is leaning on a recurring, Autoship-anchored model to keep compounding earnings and free cash flow even as a weakening consumer pressures premiumization and discretionary attach, forcing a revenue-guide trim while the margin outlook holds. Management frames the softness as macro-driven, not share loss, and is funding health/vet-care and AI initiatives plus a newly leveraged balance sheet to widen the moat until conditions normalize.
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CHWY operating KPIs by quarter
| KPI | Feb 2026 Q4 FY26 | This call May 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|
| Active customers | 21.3MWe continue to grow active customers ending the year with 21.3 million, increasing by approximately 4% year-over-year and net additions up by more than 810,000 year-over-year in fiscal 2025.Source: earnings call transcript | 21.5MWe ended the quarter with 21.5 million active customers, up 3.6% year-over-year, while net sales per active customer or netback increased to $597 Autoship customer sales once again outpaced overall company growth increasing over 10% year-over-year and reaching 84.4% of total net sales in the quarter further reinforcing the predictability, durability and recurring nature of our revenue base.Source: earnings call transcript | 21.7MWe ended the quarter with 21.7 million active customers, representing 3.8% year-over-year growth and 208,000 sequential net additions.Source: earnings call transcript | +0.9% |
| Net active customer additions | — | <200KDespite the consumer environment that weakened in the latter parts of the quarter, we delivered nearly 200,000 net customer additions, achieved solid top line growth and record profitability generated strong free cash flow and maintained consistent category share capture.Source: earnings call transcript | 208KWe ended the quarter with 21.7 million active customers, representing 3.8% year-over-year growth and 208,000 sequential net additions.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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