Investors look to profit as Americans spend more on pampering their pets
Investors look to profit as Americans spend more on pampering their pets
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.”
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