10-Q Filing

CHEWY, INC. CIK: 1766502 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001766502-20-000013`
Period End Date	20200430
Filing Date	20200609
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	chwy-20200503_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 26 Cash Flow Statement 50 Stockholders Equity 18

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$212.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$192.53M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$80.48M	USD	Point-in-time
Preferred stock outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$98.09M	USD	Point-in-time
Inventories	`InventoryNet`	$448.76M	USD	Point-in-time
Inventories	`InventoryNet`	$317.81M	USD	Point-in-time
Due from Parent, net	`DueFromRelatedPartiesCurrent`	$11.27M	USD	Point-in-time
Due from Parent, net	`DueFromRelatedPartiesCurrent`	$626.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.79M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.15M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$767.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$629.79M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$118.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$144.43M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$179.05M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$207.15M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$4.75M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$4.00M	USD	Point-in-time
Total assets	`Assets`	$932.32M	USD	Point-in-time
Total assets	`Assets`	$1.12B	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$782.86M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$683.05M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$417.49M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$466.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.25B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.10B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$229.56M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$200.44M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$35.32M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$40.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.52B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.34B	USD	Point-in-time
Commitments and contingencies (Note 4)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 4)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding as of May 3, 2020 and February 2, 2020	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding as of May 3, 2020 and February 2, 2020	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.49B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.44B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.84B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.89B	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-357.94M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-403.97M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-335.94M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-396.54M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$932.32M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$1.12B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.62B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.11B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$854.98M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.24B	USD	1 Quarter
Gross profit	`GrossProfit`	$378.71M	USD	1 Quarter
Gross profit	`GrossProfit`	$253.89M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$320.06M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$181.90M	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$102.26M	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$106.14M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$284.16M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$426.19M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-30.27M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-47.49M	USD	1 Quarter
Interest (expense) income, net	`InterestIncomeExpenseNonoperatingNet`	$-384.00K	USD	1 Quarter
Interest (expense) income, net	`InterestIncomeExpenseNonoperatingNet`	$716.00K	USD	1 Quarter
Loss before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-29.55M	USD	1 Quarter
Loss before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-47.87M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-29.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-47.87M	USD	1 Quarter
Net loss per share attributable to common Class A and Class B stockholders, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Net loss per share attributable to common Class A and Class B stockholders, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Weighted average common shares used in computing net loss per share attributable to common Class A and Class B stockholders, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	401.40M	shares	1 Quarter
Weighted average common shares used in computing net loss per share attributable to common Class A and Class B stockholders, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	393.00M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-29.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-47.87M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.25M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$7.23M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$42.23M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseRightOfUseAssetAmortization`	$5.09M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseRightOfUseAssetAmortization`	$4.01M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.82M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-386.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.25M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$17.61M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$130.95M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$33.28M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.37M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.09M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$159.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-680.00K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$99.81M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$16.72M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$59.01M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-11.19M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-2.12M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-3.87M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$5.22M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.78M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.75M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-51.14M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$12.22M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$42.58M	USD	1 Quarter
Cash reimbursements provided by Parent, net of advances	`CashReimbursementsProvidedByParentNetOfAdvances`	$4.06M	USD	1 Quarter
Cash reimbursements provided by Parent, net of advances	`CashReimbursementsProvidedByParentNetOfAdvances`	$2.11M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.46M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.16M	USD	1 Quarter
Contribution from Parent	`ProceedsFromContributionsFromParent`	$325.00K	USD	1 Quarter
Contribution from Parent	`ProceedsFromContributionsFromParent`	$325.00K	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$160.00K	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$52.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$165.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$273.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-59.03M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-19.55M	USD	1 Quarter
Cash and cash equivalents, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.30M	USD	Point-in-time
Cash and cash equivalents, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$88.33M	USD	Point-in-time
Cash and cash equivalents, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$212.09M	USD	Point-in-time
Cash and cash equivalents, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$192.53M	USD	Point-in-time
Cash and cash equivalents, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$212.09M	USD	Point-in-time
Cash and cash equivalents, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.30M	USD	Point-in-time
Cash and cash equivalents, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$88.33M	USD	Point-in-time
Cash and cash equivalents, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$192.53M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$-357.94M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-403.97M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-335.94M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-396.54M	USD	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$42.23M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.23M	USD	1 Quarter
Vesting of share-based compensation awards	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Contribution from Parent	`AdjustmentsToAdditionalPaidInCapitalContributionFromParent`	$325.00K	USD	1 Quarter
Contribution from Parent	`AdjustmentsToAdditionalPaidInCapitalContributionFromParent`	$325.00K	USD	1 Quarter
Tax sharing agreement with Parent	`AdjustmentsToAdditionalPaidInCapitalIncreaseDecreaseFromTaxSharingAgreement`	$12.76M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-29.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-47.87M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Ending balance	`StockholdersEquity`	$-357.94M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-403.97M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-335.94M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-396.54M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.