Chewy Files Q3 2024 10-Q Report

TL;DR

Chewy's Q3 2024 10-Q is in. Check financials.

AI Summary

Chewy, Inc. filed its 10-Q for the period ending October 27, 2024. The company reported financial results for its third quarter of fiscal year 2024. Key financial data and operational details are presented in this filing, which is a standard quarterly report for publicly traded companies.

Why It Matters

This filing provides investors with an update on Chewy's financial performance and operational status, crucial for understanding the company's trajectory in the pet products market.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediately apparent unusual risks or disclosures.

Key Players & Entities

• Chewy, Inc. (company) — Filer of the 10-Q report
• October 27, 2024 (date) — End of the reporting period
• 20241027 (date) — Conformed period of report
• 20241204 (date) — Filed as of date

FAQ

Key Financial Figures

• $0.01 — stered Class A Common Stock, par value $0.01 per share CHWY New York Stock Exchange

Filing Documents

• chwy-20241027.htm (10-Q) — 1108KB
• exhibit101formofperformanc.htm (EX-10.1) — 136KB
• exhibit102formofrestricted.htm (EX-10.2) — 118KB
• exhibit103stacybowmansepar.htm (EX-10.3) — 38KB
• exhibit311certificateofchi.htm (EX-31.1) — 12KB
• exhibit312certificateofchi.htm (EX-31.2) — 12KB
• exhibit321certificateofchi.htm (EX-32.1) — 6KB
• chwy-20241027_g1.jpg (GRAPHIC) — 82KB
• 0001766502-24-000053.txt ( ) — 6091KB
• chwy-20241027.xsd (EX-101.SCH) — 33KB
• chwy-20241027_cal.xml (EX-101.CAL) — 60KB
• chwy-20241027_def.xml (EX-101.DEF) — 192KB
• chwy-20241027_lab.xml (EX-101.LAB) — 514KB
• chwy-20241027_pre.xml (EX-101.PRE) — 353KB
• chwy-20241027_htm.xml (XML) — 645KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of October 27, 2024 and January 28, 2024 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Thirteen and Thirty-Nine Weeks Ended October 27, 2024 and October 29, 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Thirteen and Thirty-Nine Weeks Ended October 27, 2024 and October 29, 2023 5 Condensed Consolidated Statements of Cash Flows for the Thirty-Nine Weeks Ended October 27, 2024 and October 29, 2023 7 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 32

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the quarterly period ended October 27, 2024 contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our share repurchase program, our future results of operations or financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "target," "will" or "would" or the negative of these words or other similar terms or expressions. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could cause actual results to differ materially from those in such forward-looking statements, including but not limited to, our ability to: sustain our recent growth rates and successfully manage challenges to our future growth, including introducing new products or services, improving existing products and services, and expanding into new jurisdictions and offerings; successfully respond to business disruptions; successfully manage risks related to the macroeconomic environment, including any adverse impacts on our business operations, financial performance, supply chain, workforce, facilities, customer services and operations; acquire and retain new customers in a cost-effective manner and increase our net sales, improve margins and maintain profitability; manage our growth effectively; maintain positive perceptions of the Company and preserve, grow and leverag

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) CHEWY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) As of October 27, 2024 January 28, 2024 Assets (Unaudited) Current assets: Cash and cash equivalents $ 506,634 $ 602,232 Marketable securities 885 531,785 Accounts receivable 193,210 154,043 Inventories 858,551 719,273 Prepaid expenses and other current assets 56,445 97,015 Total current assets 1,615,725 2,104,348 Property and equipment, net 527,738 521,298 Operating lease right-of-use assets 458,037 474,617 Goodwill 39,442 39,442 Deferred tax assets 275,669 — Other non-current assets 41,286 47,146 Total assets $ 2,957,897 $ 3,186,851 Liabilities and stockholders' equity Current liabilities: Trade accounts payable $ 1,229,132 $ 1,104,940 Accrued expenses and other current liabilities 950,093 1,005,937 Total current liabilities 2,179,225 2,110,877 Operating lease liabilities 510,612 527,795 Other long-term liabilities 44,638 37,935 Total liabilities 2,734,475 2,676,607 Commitments and contingencies (Note 5) Stockholders' equity: Preferred stock, $ 0.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding as of October 27, 2024 and January 28, 2024 — — Class A common stock, $ 0.01 par value per share, 1,500,000,000 shares authorized, 161,522,237 and 132,913,046 shares issued and outstanding as of October 27, 2024 and January 28, 2024, respectively 1,615 1,329 Class B common stock, $ 0.01 par value per share, 395,000,000 shares authorized, 246,525,803 and 298,863,356 shares issued and outstanding as of October 27, 2024 and January 28, 2024, respectively 2,465 2,989 Additional paid-in capital 1,824,384 2,481,984 Accumulated deficit ( 1,605,706 ) ( 1,975,652 ) Accumulated other comprehensive income (loss) 664 ( 406 ) Total stockholders' equity 223,422 510,244 Total liabilities and stockholders' equity $ 2,957,897 $ 3,186,851 See accompanying Notes to Condensed

View Full Filing

View this 10-Q filing on SEC EDGAR