Why Chewy Is Falling Again Today
Shares of Chewy (NYSE: CHWY) are falling 5.5% at 10:43 a.m. ET on Tuesday morning following disappointing overall retail earnings reports that hint at a coming recession.
It follows a Wall Street Journal story last week on the rising cost of keeping a pet. Although the online pet supplies retailer wasn't specifically mentioned in the article, the story noted pet costs are up 15% from last year, and owners are cutting back on spending.
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Source Fool.com
