Chewy has released its financial results for the fourth quarter and full year 2020, which ended on January 31, 2021. According to the results, net revenue for the fourth quarter was 2.04 bn dollars and increased 51 by per cent year over year. Positive net income was generated for the first time in the quarter, amounting to 21 mio dollars, including share-based compensation expenses of 24 mio dollars.
Full-year net sales came to 7.15 bn dollars, up 47 per cent year over year. However, Chewy also reported a net loss of 92.5 mio dollars, including stock-based compensation expenses of 129.2 mio dollars.
"2020 was a challenging and unpredictable year in which Chewy performed well and made significant strategic and operational progress," said CEO Sumit Singh.
