Chewy Q1 Growth

Chewy, Inc. (NYSE: CHWY) reported first‑quarter fiscal 2026 results for the quarter ended May 3 2026. Net sales rose 7.7 % YoY to $3.36 billion, with gross margin expanding 50 basis points to 30.1 %. Net income reached $94.8 million, and adjusted EBITDA grew 31.3 % to $253.1 million, giving an adjusted EBITDA margin of 7.5 %. Active customers increased 3.6 % to 21.497 million, and net sales per active customer climbed 2.4 % to $597. Autoship customer sales accounted for 84.4 % of total net sales. Adjusted SG&A expenses fell 90 basis points YoY to 17.7 % of net sales, largely due to productivity improvements and AI‑led efficiencies. Operating cash flow was $108.5 million and free cash flow $70.8 million, up 45.4 % YoY. EPS was $0.43, matching consensus and beating the prior‑year $0.35.