Investors look to profit as Americans spend more on pampering their pets
Share Now on:
Online pet-supply store Chewy Inc. is expected to announce its final stock price Thursday ahead of an initial public offering. PetSmart bought the startup in 2017.
Chewy has yet to turn a profit, but its sales have been growing at about a billion dollars a year, reflecting robust growth in the overall pet supplies industry. Analysts attribute that growth to a trend toward what they call “pet humanization.”
News and information you need, from a source you trust.
In a world where it’s easier to find disinformation than real information, trustworthy journalism is critical to our democracy and our everyday lives. And you rely on Marketplace to be that objective, credible source, each and every day.
This vital work isn’t possible without you. Marketplace is sustained by our community of Investors—listeners, readers, and donors like you who believe that a free press is essential – and worth supporting.