Chewy Sinks 11% as Free Cash Flow Miss Overshadows Raised Outlook; Petco Falls 6%, Freshpet Ticks Up
Chewy shares fell 11% midday Wednesday after its free cash flow shortfall overshadowed a raised outlook, while Petco declined 6% and Freshpet ticked up slightly. The moves came as several pet-focused retailers saw divergent trading on Wednesday.
Why it matters — As a fellow player in the pet sector, Freshpet's modest uptick amid weakness in other pet retailers offers context for how the broader category is trading.