Latest news with #ChewyInc
Yahoo
24-06-2025
- Business
- Yahoo
Chewy, Inc. Announces Pricing of Upsized Offering of Class A Common Stock by Selling Stockholder and Concurrent Repurchase
PLANTATION, Fla., June 24, 2025--(BUSINESS WIRE)--Chewy, Inc. (NYSE: CHWY) ("Chewy"), a trusted destination for pet parents and partners everywhere, announced today the pricing of an upsized underwritten public offering of 23,952,096 shares of its Class A common stock, par value $0.01 per share, by Buddy Chester Sub LLC (the "Selling Stockholder"), which is an entity affiliated with funds advised by BC Partners PE, LP ("BC Partners"), Chewy's largest shareholder, at a price to the public of $41.95 per share (the "Offering"). The Selling Stockholder granted the underwriter a 30-day option to purchase up to an additional 3,592,815 shares of Class A common stock. Chewy will not sell any shares of its Class A common stock in the Offering and will not receive any proceeds from the sale of the shares of Class A common stock being offered by the Selling Stockholder. In addition, as previously announced, concurrent with the closing of the Offering, Chewy has agreed to purchase from the Selling Stockholder $100.0 million of Chewy's Class A common stock at a price per share equal to the per share purchase price to be paid by the underwriter in the Offering (the "Concurrent Repurchase"). The Concurrent Repurchase was approved by a special committee of Chewy's Board of Directors, consisting solely of independent directors not affiliated with BC Partners. The repurchased shares will be cancelled and retired upon completion of the Concurrent Repurchase. The Concurrent Repurchase is being executed separately from the Company's existing $500 million share repurchase program authorized on May 24, 2024, which will be unaffected by this transaction. We expect the closing of the Concurrent Repurchase to occur substantially concurrently with the closing of this offering. The Offering is not conditioned upon the closing of the Concurrent Repurchase, but the Concurrent Repurchase is conditioned upon the closing of the Offering. Prior to the Offering and Concurrent Repurchase, Chewy had approximately 196 million shares of Class A common stock and 220 million shares of Class B common stock outstanding. If the Offering and Concurrent Repurchase are completed (assuming no exercise of the underwriter's option to purchase additional shares of Class A Common Stock), Chewy will have approximately 219 million shares of Class A common stock and approximately 193 million shares of Class B common stock outstanding. The Offering and Concurrent Repurchase are expected to close by June 25, 2025, subject to customary closing conditions. J.P. Morgan is acting as the sole underwriter for the Offering. Chewy has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the Offering. A preliminary prospectus supplement and accompanying prospectus relating to the Offering will be filed with the SEC and will be available on the SEC's website. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and other documents Chewy has filed with the SEC for more complete information about Chewy and the Offering. You may get these documents for free by visiting EDGAR on the SEC website at Alternatively, Chewy or J.P. Morgan will arrange to send you the preliminary prospectus supplement and accompanying prospectus relating to the Offering if you contact J.P. Morgan: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@ and postsalemanualrequests@ This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Chewy Our mission is to be the most trusted and convenient destination for pet parents and partners everywhere. We believe that we are the preeminent online source for pet products, supplies and prescriptions as a result of our broad selection of high-quality products and services, which we offer at competitive prices and deliver with an exceptional level of care and a personal touch to build brand loyalty and drive repeat purchasing. We seek to continually develop innovative ways for our customers to engage with us, as our websites and mobile applications allow our pet parents to manage their pets' health, wellness, and merchandise needs, while enabling them to conveniently shop for our products. We partner with approximately 3,200 of the best and most trusted brands in the pet industry, and we create and offer our own private brands. Through our websites and mobile applications, we offer our customers approximately 130,000 products and services offerings, to bring what we believe is a high-bar, customer-centric experience to our customers. Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 ("PSLRA"), and such statements are intended to qualify for the protection of the safe harbor provided by the PSLRA. All statements other than statements of historical facts contained in this communication are forward-looking statements, which involve substantial risks and uncertainties. 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 not all forward-looking statements contain these identifying words. 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 close the Offering and Concurrent Repurchase and complete any repurchases under our share repurchase program following the Offering and Concurrent Repurchase. You should not rely on forward-looking statements as predictions of future events, and you should understand that these statements are not guarantees of performance or results, and our actual results could differ materially from those expressed in the forward-looking statements due to a variety of factors. We have based the forward-looking statements contained in this communication primarily on our current assumptions, expectations and projections about future events and trends that we believe may affect our business, financial condition, and results of operations. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in the section titled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended February 2, 2025, the preliminary prospectus supplement and accompanying prospectus and elsewhere in our filings with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this communication. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. The forward-looking statements made in this communication relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this communication to reflect events or circumstances after the date of this communication or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. View source version on Contacts Investor Contact:ir@ Media Contact:Diane Pelkeydpelkey@ Sign in to access your portfolio
Bloomberg
23-06-2025
- Business
- Bloomberg
Chewy Backer BC Partners Seeks to Raise $1 Billion in Share Sale
Funds advised by BC Partners are seeking to sell $1 billion worth of Chewy Inc. shares. The Plantation, Florida-based pet product retailer won't receive any proceeds from the sale, according to a statement Monday.
Associated Press
23-06-2025
- Business
- Associated Press
Black-I Robotics Wins Global Robotics Innovation Challenge
Chewy, Inc. identifies best robotics solution to warehousing's toughest issue 'With AI-powered vision, our system can safely identify and pick large, soft bags from pallets and place them into shipping boxes—automating a task that requires high labor costs.'— Brian Hart, CEO, Black-I Robotics TYNGSBOROUGH, MA, UNITED STATES, June 23, 2025 / / -- Black-I Robotics, headquartered in Tyngsborough, has won the prestigious Chewy Challenge, an international competition to identify the most advanced robotic solution for one of the warehouse industry's most stubborn challenges: autonomously handling soft, heavy loads—typically 40 pounds or more—inside fast-moving, high-volume distribution centers. The Chewy Challenge was sponsored by Chewy, Inc., the online marketer of pet-related products, including pet food and kitty litter, and MassRobotics, the largest independent robotics hub dedicated to accelerating innovation and adoption in the field of robotics. The prize was $30,000. 'Chewy's packaged products come in variable shapes and sizes, with different surface textures and levels of deformability, presenting a multi-layered manipulation challenge,' according to Brian Hart, CEO of Black-I Robotics. 'The packages' irregular geometry and low structural stiffness reduce the effectiveness of conventional suction or parallel-jaw gripping techniques, while inconsistent stacking and presentation on pallets further complicate object recognition and grasp planning. The challenge is multiplied when building mixed case pallets, which is often required. This was a deeply technical challenge.' Twelve elite teams from across the globe were chosen to compete. Over several months, they worked side-by-side with Chewy's robotics team, gaining hands-on insight into the company's fulfillment challenges, workflows, and performance standards. To support development, the Chewy team provided contestants with photos and videos of fulfillment operations, access to the Chewy robotics lab, and a comprehensive NVIDIA Omniverse simulation package, including a digital twin of the warehouse and 3D assets for a subset of Chewy's product line. The challenge aimed to enable teams to validate their solutions, whether as simulation-based prototypes or as physical systems ready to interact with the real world. 'Our experience building heavy-lift mobile robotic arms for government and private clients laid the foundation for Black-I's solution,' Hart says. 'By combining our proprietary mobile arm with AI-empowered intelligence and utilizing an autonomous mobile robot chassis, we present a practical solution that delivers value today—without requiring major changes to a facility's physical infrastructure. With AI-powered vision, our system can safely identify and pick large, soft bags from pallets and place them into shipping boxes—automating a task that all too often leads to frustration, injury and inefficiency. We're honored to be recognized as the best solution to this complex challenge. Chewy's continuous feedback was invaluable, and we thank MassRobotics for their support.' 'We're delighted that one of MassRobotics' own, Black-I Robotics, won this very competitive contest,' says Tom Ryden, executive director of MassRobotics. 'We've actively supported Black-I's efforts for many years, and have been impressed at how the company has worked so successfully to develop a robot solution for the logistics industry that is truly revolutionary. Congrats to the Black-I team!' For further information, contact CEO Brian Hart at 978-703-1236 or [email protected]. Visit us at Brian Hart Black-I Robotics [email protected] Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Washington Post
11-06-2025
- Business
- Washington Post
Chewy: Fiscal Q1 Earnings Snapshot
PLANTATION, Fla. — PLANTATION, Fla. — Chewy Inc. (CHWY) on Wednesday reported fiscal first-quarter earnings of $62.4 million. On a per-share basis, the Plantation, Florida-based company said it had profit of 15 cents. Earnings, adjusted for stock option expense and severance costs, were 35 cents per share. The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
Forbes
05-06-2025
- Business
- Forbes
Chewy Earnings To Deliver?
Chewy (NYSE:CHWY) is expected to release its earnings around June 11. Chewy offers food and supplies for a range of pets and is also involved in emerging pet industry sectors such as personalized products, pet insurance, and pet telehealth, with a market capitalization of $19 billion. Consensus forecasts indicate revenues near $3.08 billion for the quarter, reflecting an increase of approximately 7% compared to the previous year, while earnings are anticipated to be around $0.34 per share. This growth is likely fueled by an expanding customer base relative to last year, along with an increased adoption of Chewy's Autoship subscription service, which enables customers to arrange for regular deliveries of pet supplies. Over the past twelve months, revenue reached $12 billion, and the company was operationally profitable, generating $113 million in operating profits and a net income of $393 million. However, for those seeking upside potential with reduced volatility than individual stocks, the Trefis High Quality portfolio offers an alternative, having surpassed the S&P 500 and achieved returns exceeding 91% since its inception. See earnings reaction history of all stocks Here are some observations on one-day (1D) post-earnings returns: Additional information on observed 5-Day (5D) and 21-Day (21D) returns after earnings is compiled along with statistics in the table below. CHWY 1D, 5D, and 21D Post-Earnings Return Trefis A relatively lower-risk approach (though ineffective if the correlation is low) involves evaluating the correlation between short-term and medium-term returns following earnings, identifying a pair with the highest correlation, and executing the appropriate trade. For example, if 1D and 5D exhibit the strongest correlation, a trader can position themselves 'long' for the next 5 days assuming the 1D post-earnings return is positive. Below is some correlation data based on a 5-year and a 3-year (more recent) history. Note that the correlation 1D_5D refers to the relationship between 1D post-earnings returns and the subsequent 5D returns. Learn more about Trefis RV strategy that has outperformed its all-cap stocks benchmark (a combination of the S&P 500, S&P mid-cap, and Russell 2000), delivering strong returns for investors. Additionally, if you desire upside with a smoother experience compared to an individual stock like Chewy, consider the High Quality portfolio, which has exceeded the S&P and achieved returns greater than 91% since inception.
