CHEWY INC (NYSE:CHWY) Q2 2020 Earnings Conference Call - Final Transcript

Sep 10, 2020 • 05:00 pm ET


CHEWY INC (NYSE:CHWY) Q2 2020 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to the Chewy's Second Quarter 2020 Earnings Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Bob LaFleur, Vice President, Investor Relations and Capital Markets. Please go ahead.

Robert A. LaFleur

Thank you for joining us on the call today to discuss our second quarter fiscal 2020 results. Joining me today are Chewy's CEO, Sumit Singh; and CFO, Mario Marte. Our earnings release and letter to shareholders, which were filed with the SEC on Form 8-K earlier today have been posted to the Investor Relations section on our website, A link to the webcast of today's conference call is also available on the site. On our call today, we will be making forward-looking statements, including statements concerning Chewy's future prospects, financial results, business strategies, industry trends and our ability to successfully respond to business risks, including those related to the spread of COVID-19, including any adverse impacts on our supply chain, workforce, fulfillment centers, other facilities, customer service operations and future plans.

Such statements are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties, which could cause actual results to differ materially from those contemplated by our forward-looking statements. Reported results should not be considered an indication of future performance. Also note that the forward-looking statements on this call are based on information available to us as of today's date. We disclaim any obligation to update any forward-looking statements except as required by law.

For further information, please refer to the risk factors and other information in Chewy's 10-Q and 8-K filed earlier today and in our other filings with the SEC. Also during this call, we will discuss certain non-GAAP financial measures. Reconciliations of these non-GAAP items to the most directly comparable GAAP financial measures are provided on our Investor Relations website and in our earnings release and letter to shareholders, which were filed with the SEC on Form 8-K earlier today. These non-GAAP measures are not intended as a substitute for GAAP results. Finally, this call in its entirety is being webcast on our Investor Relations website. A replay of this call will also be available on our IR website shortly.

I'd now like to turn the call over to Sumit.

Sumit Singh

Thanks, Bob and thanks to all of you for joining us on the call. The strong demand we observed in the first quarter carried over into Q2 and once again thanks to the high quality execution from the Chewy team we achieved record net sales growth and customer additions. In recent months it has become clear that the retail industry in general and e-commerce in particular is going through a period of transformative change. Growth curves that were supposed to play out over years have been compressed into quarters and even months. Over the past few years we have invested in technology, new businesses, fulfillment capacity and in building an extraordinary team. This has