Chewy's Stock Surges Following Strong Q2 Earnings Boasting 6 New Vet Clinic Locations
Chewy Inc. (CHWY) saw its stock surge by 14% on Wednesday after the online pet retailer reported fiscal second-quarter earnings that far exceeded expectations and issued an optimistic outlook for the rest of the year.
The Plantation, Florida-based company reported a net income of $299.1 million, or 68 cents per share, for the quarter ending July 28, a significant increase from the $20.2 million, or 5 cents per share, reported during the same period last year. When adjusted for one-time items, earnings per share (EPS) came in at 24 cents, well above the 2-cent consensus forecast by FactSet.
Colorado Initiative 145 Qualifies for November Ballot, Proposing New Veterinary Professional Role
On August 28, the Colorado Secretary of State's office confirmed that Initiative 145, sponsored by the group All Pets Deserve Vet Care, has qualified for the November ballot. The initiative garnered 207,182 signatures, well above the 124,238 required for inclusion on the ballot.
Initiative 145 proposes the creation of a new veterinary profession: the Veterinary Professional Associate (VPA). This role would require a master’s degree and registration with the State Board of Veterinary Medicine. VPAs would be permitted to practice veterinary medicine under the supervision of a licensed veterinarian.
Virginia Tech Moves Forward with Plans to Expand Veterinary Teaching Hospital
Virginia Tech is moving ahead with plans to renovate and expand its Veterinary Teaching Hospital after the university’s board of visitors approved initial funding for the project. The board authorized $4.3 million on Wednesday to finalize the designs and working drawings, marking the first step in a larger project expected to cost $43 million in total.
Senator Richard Blumenthal Addresses Rising Veterinary Costs and Private Equity Involvement
Senator Richard Blumenthal, a U.S. Senator from Connecticut, serving since January 2011. A member of the Democratic Party, Blumenthal is known for his strong advocacy on issues related to consumer protection, healthcare, veterans' affairs, and corporate accountability, is drawing attention to the rising costs of veterinary care in the U.S., which have increased by 6.2% since July 2023, according to the U.S. Bureau of Labor Statistics. Blumenthal has voiced concerns that these escalating expenses are making pet ownership increasingly unaffordable for many Americans, contributing to overcrowded animal shelters and a decline in pet adoptions.
U.S. Bank acquires healthcare payments platform Salucro Healthcare Solutions
U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB), has acquired Salucro Healthcare Solutions LLC. The Tempe, Arizona-based company provides healthcare financial technology, focused on patient payments and billing.
Founded in 2004, Salucro is a market leader in providing online billing and payments offerings for healthcare providers across the United States. Salucro had previously been a partner of Elavon, the merchant acquiring unit within U.S. Bank. U.S. Bank initially invested in Salucro in 2022, and Salucro's platform is sold through Elavon as MedEpay.
Fifth Third, Provide Gift $50,000+ to Pet Owners on National Dog Day
Fifth Third proudly helps veterinarians achieve their practice ownership dreams through Provide – and now the Bank is supporting pet owners directly in conjunction with National Dog Day.
“National Dog Day seemed like the perfect opportunity to express that gratitude by supporting pet owners in partnership with some outstanding animal hospitals.”
On Monday, more than 300 pet owners at select Provide veterinary hospitals in Charlotte and Atlanta were surprised with gifts to help offset the cost of pet care, including a $167 gift card and a pack of pet toys, treats and other goodies for their furry friends.