Pandemic pets prove profitable for Chewy

Zoetis CEO Kristin Peck talks about how her company benefited as people began to spend more time and money on their pets and addresses how people's eating behaviors disrupted the company's livestock business and how that might impact the company in the long term.

Chewy Inc. swung to a fourth-quarter profit as the online pet-products retailer reported more than $2 billion in sales and added customers amid the coronavirus pandemic.

Here's what you need to know.

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CHWY

$15.38

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PROFIT: Chewy swung to a $21 million profit for the quarter ended Jan. 31 from a loss of $60.9 million a year earlier.REVENUE: Net sales rose to $2.04 billion from $1.35 billion a year earlier. Analysts expected $1.97 billion, above Chewy's projected $1.94 billion to $1.96 billion range.

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YEAR: Chewy ended the year at a loss of $92.5 million and $7.15 billion in net sales, compared with a loss of $252.4 million and $4.85 billion in sales a year earlier.PANDEMIC: The company has pointed to higher rates of pet ownership and a shift to shopping online during the pandemic.