Chewy Rides On Post-ipo High

NEW YORK (AP) — Chewy, the online seller of pet food and squeaky toys, is continuing its post-IPO sales streak. The company, which debuted on the New York Stock Exchange in June, forecast Thursday a rosy sales outlook after posting fiscal first-quarter results in line with Wall Street expectations. Chewy reported a 45.2% increase in sales to $1.1 billion The Dania Beach, Florida-based company expects net sales of $1.12 billion to $1.14 billion for the second quarter, which represents a 39% to 42% growth over the year ago period. It expects full-year net sales of $4.68 billion to $4.75 billion, representing anywhere from a 32% to 34 % growth rate. Chewy's shares soared 59% on June 14, its first day of trading.Read more on NewsOK.com

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