Chewy reported $3.5 billion in sales during fiscal 2018, up from $2.1 billion in fiscal 2017, according to CNBC. The retailer reported a net loss of $268 million in fiscal 2018, down from a net loss of $338 million the previous year. The retailer’s valuation is estimated to be between $4.15 billion and $4.75 billion, according to S&P Global Ratings.
PetSmart acquired Chewy in 2017 for approximately $3.35 billion. PetSmart will remain majority owner of Chewy following the IPO, and the retailer will use the proceeds for working capital and general corporate purposes.