Chewy, Inc. announced its financial results for the first quarter of fiscal year 2025, ended May 4, 2025, reporting net sales of $3.116 billion. This figure represents an 8.3% increase year-over-year and surpassed the high end of the company's guidance range. Active customers grew by 3.8% year-over-year to 20.8 million, while net sales per active customer increased 3.7% to $583.
The company reported adjusted EBITDA of $192.7 million, an 18.3% increase year-over-year, resulting in an adjusted EBITDA margin of 6.2%, a 50 basis point expansion. While gross margin was 29.6%, a slight decrease of 10 basis points year-over-year, it showed a normalized expansion of approximately 60 basis points when adjusted for prior year one-time benefits. Net income for the quarter was $62.4 million, compared to $66.9 million in the prior year.
Chewy maintained its full-year fiscal year 2025 net sales outlook of $12.3 billion to $12.45 billion and its adjusted EBITDA margin outlook of 5.4% to 5.7%. For the second quarter of fiscal year 2025, the company provided net sales guidance of $3.06 billion to $3.09 billion, projecting 7% to 8% growth. The Autoship program continued its strong performance, accounting for a record 82.2% of net sales.
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