Commentary

Chewy Serves Up Fresh Meals as Pet Food Wars Heat Up

 

 

 

Plenty of pet owners are trimming grocery bills. Chewy is betting others will splurge on the dog’s bowl, launching a new line of fresh meals called Get Real. The minimally processed food comes in three varieties—Chicken & Brussels Sprouts, Beef & Sweet Potato, and Turkey & Cranberry—and is designed to look less like kibble and more like something people might eat themselves.

The $3 billion fresh-food category is one of the few bright spots in packaged goods, growing at a faster clip than many human staples. With more owners treating pets as family members, fresh and frozen meals are viewed as a way to extend both longevity and quality of life. General Mills’ Blue Buffalo underscored the momentum just two months ago, introducing its own fresh line, Love Made Fresh.

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Chewy will customize Get Real based on a dog’s weight, breed, age and activity level, and sell it as either a full meal or topper, and is offered exclusively on autoship.

CEO Sumit Singh explained the new product launch in an earnings call webcast for investors. “The fresh and frozen segment represents a fast-growing market, fueled by trends of humanization and premiumization,” he said. “Consumers believe that their pets deserve fresh and nutritious food, leading to longevity and an overall higher quality of life.”

Singh said Chewy’s ongoing investments in fulfillment centers means most fresh orders should reach homes within a single day, an edge in a segment where speed is critical.

The launch came as Chewy reported second-quarter earnings, with revenue climbing 8.6% to $3.1 billion. Results beat Wall Street’s expectations, but management struck a cautious tone about growth for the remainder of the year. Singh pointed to a mixed consumer backdrop, where some households are cutting back even as others continue to “premiumize” their pets’ diets.

Wedbush analyst Scott Devitt remains bullish, continuing to rate the stock as an outperformer. He wrote that the guidance likely reflects “conservatism,” noting Chewy’s history of consistently meeting or modestly topping expectations.

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