Online pet food store (NYSE: CHWY) reported earnings this morning, and investors think Chewy is a very bad boy. The stock fell 12.6% through 9:50 a.m. ET despite hitting analyst forecasts for $0.33 per share in adjusted earnings, and beating (barely) the forecast for less than $3.1 billion in Q2 sales.

Chewy's actual sales for the quarter hit $3.1 billion on the nose, a year-over-year increase of nearly 9%. The company earned a 30.4% gross profit margin on these sales, up 90 basis points from a year ago. And yet the news was not all good.

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Source Fool.com