瑞穗表示Chewy+年费上涨抵消了利润率担忧

• Mizuho said Tuesday that online retailer for pet products Chewy (CHWY) is raising the price of its annual Chewy+ membership program by $30 to $79, citing the recent checks it made.
• The research firm believes the fee hike is "pretty substantial" and may offset negative sentiment around the company's 2H25E gross margin weakness.
• "By notching the annual membership fee higher at this point, we believe this says a lot about the early success of the program and incremental top-line opportunity into FY26E," the research firm said in its note.
• Mizuho's rating on CHWY is unchanged at "outperform," and its price target is maintained at $50, implying an upside of nearly 52%.

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