Income Taxes |
3 Months Ended |
|---|---|
May 03, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes Income Tax Provision Chewy is subject to taxation in the U.S. and various state, local, and foreign jurisdictions. The Company recorded an income tax provision during the thirteen weeks ended May 3, 2026 and May 4, 2025 of $36.5 million and $15.5 million, respectively. The Company’s effective tax rate for the thirteen weeks ended May 3, 2026 was higher than the U.S federal statutory rate, primarily due to state income taxes and shortfall from share-based compensation, partially offset by federal and state research and development credits. Deferred Tax Assets and Valuation Allowances The Company periodically evaluates the realizability of its net deferred tax assets based on all available evidence. The realizability of the Company’s net deferred tax assets is dependent on its ability to generate sufficient future taxable income prior to the expiration of tax attributes to support the utilization of these assets. As of May 3, 2026 and February 1, 2026, the Company maintained a full valuation allowance of $27.4 million against its foreign net deferred tax assets and certain U.S. state deferred tax assets. Tax Payments and Refunds In the aggregate, the Company paid $0.4 million, net of refunds received, for federal, state, and foreign income taxes, including those assumed in connection with the Transactions, during the thirteen weeks ended May 3, 2026 and received refunds for income taxes, net of payments made, of $1.4 million during the thirteen weeks ended May 4, 2025.
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