Chewy CFO says expanded selection boosts sales and margins

Chewy CFO Mario Marte said the company has benefited with higher sales and improved profit margins by moving into new pet categories and offering an expanded selection of products and services. Chewy, which reported a net loss of $92.5 million last year, is expected to post its first-ever profitable year in 2021. Chewy has also benefited from increased automation in fulfilling orders for its growing legions of fans. The online retailer opened its first automated fulfillment center last October in Pennsylvania.