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Chewy’s stock is down 8% despite 24% jump in quarterly sales

Chewy Inc.’s CHWY, -6.32% stock tumbled 8% in extended trading Thursday after the online retailer of pet food and other pet-related products reported fiscal third-quarter results. Chewy reported a net loss of $32.2 million, compared with a net loss of $32.8 million in the year-ago quarter. Net sales climbed 24% to $2.21 billion from $1.78 billion a year ago. Analysts surveyed by FactSet had expected a net loss of 8 cents a share on revenue of $2.2 billion. Shares of Chewy are down 37% this year, while the broader S&P 500 index SPX, -0.72% has gained 24.5%.

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