Chewy reported record quarterly profit and added customers in its fiscal first quarter, as the online pet supplies retailer extended a run of growth despite what its CEO described as a more challenging consumer environment.
Net income for the 13 weeks ended May 3, 2026 rose to $94.8 million, up from $62.4 million a year earlier. Net sales climbed 7.7% to $3.36 billion. Adjusted EBITDA reached $253.1 million, up $60.4 million from the same period last year, with an adjusted EBITDA margin of 7.5%.
Active customers grew to 21.5 million, a 3.6% increase from 20.8 million a year ago, representing nearly 200,000 net additions in the quarter. Net sales per active customer rose to $597 from $583. Autoship customer sales, a closely watched metric for the subscription-style program, grew 10.5% to $2.83 billion and represented 84.4% of total net sales.
"Our first quarter results demonstrate the resilience of our business model and the strength of our execution," Chewy CEO Sumit Singh said in a statement. "We delivered 7.7% net sales growth, nearly 200,000 net customer additions, and record profitability in the quarter, despite a more dynamic consumer backdrop."
On the bottom line, the $0.43 adjusted earnings per share figure landed in line with what Wall Street had forecast, while the $3.36 billion in net sales edged past the $3.35 billion analysts had expected, according to Barron's.
For the full fiscal year, revenue guidance was pulled back to $13.4 billion to $13.55 billion from a previous range of $13.6 billion to $13.75 billion. Chewy left its adjusted EBITDA margin target unchanged at 6.6% to 6.8%.
Investors had approached the quarter with considerable nervousness. Remarks Singh made a month prior — that shoppers were "more stretched" than at the year's outset — had put the market on edge. That unease grew after Zoetis, the animal health company, posted disappointing results, with CEO Kristin Peck citing "increased price sensitivity" among pet owners as a sign of broader pressure on the category.
Gross margin improved 50 basis points year over year to 30.1%. Free cash flow rose 45.4% to $70.8 million. Chewy also repurchased $200 million of common stock during the quarter.