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    CHWY   US16679L1098

CHEWY, INC.

(CHWY)
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Chewy : Launches Innovative Marketplace Service for Veterinarians to Grow Clinic Revenues, Streamline Shopping Experience

09/15/2021 | 09:07am EDT

New service provides veterinarians a complete e-commerce solution for customers and leverages the benefits of Chewy’s quick and reliable delivery, unparalleled customer care team, and Autoship subscription service

Chewy, Inc. (“Chewy”) (NYSE: CHWY), a leading online destination for pet parents and partners, is announcing the launch of a veterinarian-only marketplace designed to streamline pharmacy operations and grow veterinary clinic revenue.

This innovative new platform, called Practice Hub™, provides veterinarians a complete e-commerce solution for their clients, and leverages the benefits of Chewy’s quick and reliable delivery, unparalleled customer care team, and Autoship subscription service. Veterinarians can set prices, create pre-approved prescriptions, and earn revenue when customers place an order in-clinic or purchase from them while shopping on Chewy.com.

Several nationwide veterinary groups and independent veterinary practices are already utilizing this new platform from Chewy. “Enrolling in this service is a win for our staff, our clients, and their pets,” said Matthew Dobbs, Chief Medical Officer at Destination Pet. “It just made a lot of sense to give our clients another option to order their pets’ medications with fast, free shipping on a broad selection of pet medications, including veterinary diet food, and remove the hassle of approving online prescriptions in-clinic. This partnership also helps us earn revenue and reduce overhead costs while carrying less inventory in the clinic. Destination Pet’s values of ‘great customer service, innovative offerings for pet parents and a respect for the autonomy of the veterinarian’ align with the core values of Chewy – so developing a new, exciting partnership was a logical step to take.”

“We are excited to partner directly with veterinarians to improve the customer experience while simultaneously helping to grow revenues for their clinics,” said Sumit Singh, CEO of Chewy. “The launch of Practice Hub™ is part of Chewy Health’s ecosystem and reinforces our commitment to support the veterinarian community across the country. This innovative, new platform utilizes technology to bring veterinarians to the forefront of e-commerce and delivers an experience their customers will love.”

Chewy is currently inviting clinics and veterinarians to onboard onto Practice Hub. To learn more, or to request your clinic be considered for enrollment this fall, please visit Chewy.com/practicehub.

About Chewy

Our mission is to be the most trusted and convenient online destination for pet parents (and partners) everywhere. We believe that we are the preeminent online source for pet products, supplies, and prescriptions as a result of our broad selection of high-quality products, which we offer at competitive prices and deliver with an exceptional level of care and a personal touch. We continually develop innovative ways for our customers to engage with us, and partner with approximately 2,500 of the best and most trusted brands in the pet industry, to bring a high-bar, customer-centric experience to our customers.

About Destination Pet

Founded in 2017, Destination Pet is a leading pet health care and services company operating in 22 states across the United States. Focused on the complete well-being of the pet, the company takes an integrated approach to delivering high quality pet care and a convenient and streamlined customer experience for pet owners. With convenient access points to extending services including veterinary medicine, overnight and day care, grooming, and training, Destination Pet has built a comprehensive integrated offering and serves as a partner of choice for pet owners, veterinarians, and animal care specialists. Backed by more than a century of combined experience, Destination Pet is led by a world-class management team with a legacy of innovation in the pet care and services industry. For more information, please visit destinationpet.com.


ę Business Wire 2021
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Analyst Recommendations on CHEWY, INC.
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Financials (USD)
Sales 2022 8 948 M - -
Net income 2022 36,3 M - -
Net cash 2022 805 M - -
P/E ratio 2022 1 031x
Yield 2022 -
Capitalization 28 404 M 28 404 M -
EV / Sales 2022 3,08x
EV / Sales 2023 2,53x
Nbr of Employees 18 500
Free-Float 20,0%
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Technical analysis trends CHEWY, INC.
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 67,99 $
Average target price 97,65 $
Spread / Average Target 43,6%
EPS Revisions
Managers and Directors
Sumit Singh Chief Executive Officer & Director
Mario J. Marte Chief Financial Officer
Raymond Svider Chairman
Satish Mehta Chief Technology Officer
Fahim Ahmed Independent Director
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