Latest news with #petretail
Yahoo
3 days ago
- Business
- Yahoo
Jefferies Downgrades Chewy (CHWY) to Hold, Flags Valuation Concerns
On June 5, Jefferies downgraded Chewy, Inc. (NYSE:CHWY) to Hold from Buy, highlighting concerns over valuation. Despite that, the price target was raised to $43 from $41, and the analysts observed that Chewy's stock has surged 41% year-to-date. A close-up shot of a store shelf stocked with pet food and supplies. The analysts had reservations about Chewy's capacity to outperform Street estimates in the upcoming Q1 results, to be released on June 11. Jefferies observed that Chewy, Inc. (NYSE:CHWY) is seeing gains from sponsored ads and data-driven insights from its website and mobile application. However, the analysts believe that the current share price has already factored in these positive developments, which can temper potential gains outside of management's projected guidance. The downgrade happened because of Chewy's valuation, as analysts see limited scope for price appreciation. Jefferies maintains a conservative stance regarding the company's future performance. Chewy, Inc. (NYSE:CHWY) is an online American pet retailer that sells pet food, supplies, medications, and services through its website and mobile app. While we acknowledge the potential of CHWY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and .
Reuters
28-05-2025
- Business
- Reuters
Pets At Home reports annual underlying profit in line with expectations
May 28 (Reuters) - British retailer Pets At Home (PETSP.L), opens new tab on Wednesday reported annual underlying pretax profit in line with its expectations, as elevated costs and weak demand for pet accessories continue to weigh down growth. As living costs still remain elevated, UK consumers have been holding back on discretionary purchases including bringing new pets into their homes, driving down the company's retail sales. However, demand for services within its Vet group unit has helped offset broader sales pressures, logging a 13% growth in revenue for the year. The company reported underlying pre-tax profit of 133 million pounds ($179.2 million) for the year ended March 27, marginally up from 132 million pounds it reported in the prior year. Pets at Home reiterated its expectation for a subdued consumer backdrop in fiscal year 2026, with underlying pre-tax profit dropping to between 115 million pounds to 125 million pounds. ($1 = 0.7421 pounds)
