Chewy: Q2 Faces A Much Lower Bar, And I'm Bullish

The article frames Chewy (CHWY) as not needing a turnaround narrative for Q2—just stabilization in revenue growth. While profitability is described as holding up, sales are “no longer exciting” the market, with active-customer growth and NSPAC highlighted as the key indicators for whether growth has bottomed. Overall, the outlook reads cautious as top-line momentum remains under pressure.