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Chewy Shares Slump as Executives Say Consumers Remain Pressured
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-Diana Rosero Pena, Bloomberg Intelligence Consumer Staples Analyst, discusses Chewy earnings and Bloomberg Intelligence’s outlook for pets. Chewy Inc. executives expect consumer spending to remain pressured through the end of the year, with no "meaningful consumer recovery" expected. Chewy narrowed its full-year sales and profitability outlook, expecting net sales between $13.46 billion and $13.57 billion and an adjusted Ebitda margin of 6.7% to 6.8%…
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