09:09 AM EDT, 06/11/2025 (MT Newswires) -- Chewy (CHWY) maintained its full-year sales outlook on Wednesday as the online pet store company reported better-than-expected fiscal first-quarter results.

The company continues to project sales of $12.3 billion to $12.45 billion for fiscal 2025, representing annual growth of 6% to 7%, according to an earnings presentation. The midpoint of the outlook range is below the current consensus on FactSet for sales of $12.42 billion.

"Our first-quarter results and second-quarter net sales guidance indicate we are trending towards the upper half of our full-year net sales guidance range," outgoing Chief Financial Officer David Reeder said during an earnings call, according to a FactSet transcript. "Given we still have much of the year ahead of us, we are reserving the flexibility to adjust the range upward as we continue to progress throughout the year."

For the ongoing three-month period, Chewy anticipates adjusted earnings to be in a range of $0.30 to $0.35 a share on sales of $3.06 billion to $3.09 billion. The Street is looking for non-GAAP EPS of $0.31 and sales of $3.04 billion.

Shares of the company dropped 5.9% in the most recent premarket activity.

Chewy's adjusted EPS for the quarter ended May 4 rose to $0.35 from $0.31 a year earlier, topping the average analyst estimate on FactSet for $0.33. Sales advanced 8.3% to $3.12 billion, ahead of the market's forecast of $3.08 billion.

Active customers grew 3.8% to 20.8 million, while net sales per active customer reached $583, compared with $562 in the prior-year quarter. Sales from the company's Autoship program climbed 15% to $2.56 billion. Operating expenses rose to $846.9 million from $789.4 million.

"We delivered topline growth exceeding the high-end of our net sales guidance range, year-over-year growth in active customers, and compelling profitability and free cash flow generation," Chief Executive Sumit Singh said in the earnings release.