Chewy, Petco tout health care as a path to profits
Monty Rakusen | Culture | Getty Images
If there’s one thing that’s clear from Chewy and Petco’s latest earnings reports, it’s that pet health care will be key to whether the companies can grow and make higher profits over the longer term.
The retailers, which both released their quarterly earnings on Wednesday, began investing heavily into pet health when the pandemic-fueled pet boom saw 23 million American households welcome a new animal into their homes.
The boom turned the overall US pet market into a $123.6 billion dollar powerhouse in 2021, and it’s expected to grow to $200 billion by…
