Why Chewy Stock Is Falling 11% This Week
Shares of Chewy (NYSE: CHWY) are down 10.9% from where they closed last Friday, according to data from S&P Global Market Intelligence, as growing fears of a recession and persistent inflation put pressure on the online pet supplies retailer.
A Wall Street Journal article last week noted pet costs are rising well ahead of inflation, jumping 15% from the year-ago period versus 6.4% for human-related costs. The Journal said this was causing some people to give up their pets.
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Source Fool.com
