Income Taxes |
6 Months Ended |
|---|---|
Aug. 02, 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 and twenty-six weeks ended August 2, 2026 of $31.4 million and $67.9 million, respectively, compared to $12.0 million and $27.5 million for the thirteen and twenty-six weeks ended August 3, 2025, respectively. The Company’s effective tax rate for the thirteen and twenty-six weeks ended August 2, 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 August 2, 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 $10.6 million, net of refunds received, for federal, state, and foreign income taxes, including those assumed in connection with certain transactions with affiliates of BC Partners, during the twenty-six weeks ended August 2, 2026 and paid income taxes, net of refunds received, of $6.9 million during the twenty-six weeks ended August 3, 2025.
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