Where Will Chewy Be in 3 Years?
It's no mere fad -- people remain doggone crazy about their pets. A recent survey by Ally Financial indicates that 46% of "pet parents" with actual children say they spend at least as much on their furry friends as they spend on their own biological offspring. USA Today reports that one-third of U.S. pet owners have taken a second job to help cover pet-related costs, while two-thirds of these folks have cut back on their own personal spending to free up cash to spend on their critters.
As wild as those statistics may sound to some, they are nevertheless the reality -- at least within the United States. And they all bode well for online pet-supply store Chewy (NYSE: CHWY).
If you live in one of the 66% of U.S. households the American Pet Products Association says is home to at least one non-human animal (86.9 million homes), you've probably heard of Chewy. There's a reason you haven't seen a Chewy store, however -- there aren't any. In a competitive sea of brick-and-mortar pet stores, Chewy has made the strategic decision to limit its operation to an online-only business.
Source Fool.com
Chewy Inc Stock
The stock is an absolute favorite of our community with 50 Buy predictions and no Sell predictions.
With a target price of 36 € there is a hugely positive potential of 80.81% for Chewy Inc compared to the current price of 19.91 €.
