“Chewy Stock Investors Celebrate as the Company Boasts 22 Million Customers”
CHWY is undervalued; fair value of $34 vs current price ~$23 implies ~45% upside over 12-18 months.
On June 10th, Chewy informed investors it boasted over 21.5 million customers. That was up 3.6% year-over-year. And the net sales per active customer increased to $597.
Chewy has multiple times informed investors that the longer Chewy keeps a customer, the more they spend on the platform. And that's understandable because they become more familiar with the platform and the products and services that's being offered.