Shares in pet e-tailer Chewy (CHWY) were moving lower ahead of the opening bell Thursday after a warning over moderating pet ownership overshadowed quarterly results that came in ahead of analysts’ expectations.
The stock, which had initially jumped in after-hours trading Wednesday following the release of the company’s earnings report, was down 1.7% at $17.44 about two hours before Thursday’s opening bell.
In the fiscal-fourth quarter ended Jan. 28, the online pet food and accessories seller posted earnings of 7 cents per share, whereas analysts had expected the company to post a loss of 4 cents a share. Revenue in the period of $2.83 billion improved 4.2% from a year earlier and comfortably beat Wall Street’s forecast, boosted by the company’s consumables and health categories.
However, another closely-watched metric, active customers, fell 2% year-over-year (YOY) to 20.1 million and came in slightly below the consensus estimate of 20.2 million.
Looking ahead, Chewy guided current-quarter …