That led Chewy to its first net profitable quarter in the fourth quarter of 2020. Chewy reported today that it had net income of $21 million, a big change from the fourth quarter of 2019, when Chewy reported a net loss of $60.9 million. Chewy added 1.4 million active customers in the fourth quarter, ending the year with 19.2 million active customers, up 5.7 million from a year earlier. In 2020, Singh said, Chewy saw a 35% increase in new pet profiles being created for puppies and kittens. That number, however, is a dramatic improvement over the 2019 full year net loss of $252.4 million.

Source: Forbes March 30, 2021 23:21 UTC