v3.26.1
Acquisitions
 6 Months Ended
Aug. 02, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
The following transactions were accounted for as a business combination in accordance with ASC 805 “Business Combinations.” Assets acquired and liabilities assumed were recorded in the accompanying condensed consolidated balance sheets at their estimated fair values, with the remaining unallocated purchase prices recorded as goodwill. Goodwill represents the expected synergies and cost rationalization from the merger of operations as well as intangible assets that do not qualify for separate recognition such as an assembled workforce. Pro forma information for these acquisitions has not been provided as the impact was not material to the Company’s consolidated results of operations.

SmartPak Acquisition

On October 28, 2025, the Company entered into a definitive agreement to acquire SmartPak Equine, LLC (“SmartPak”). Under the terms of the definitive agreement, on February 2, 2026, the Company completed the acquisition of 100% of the membership interest in SmartPak, and SmartPak became a wholly-owned subsidiary of the Company. SmartPak is a leading provider of equine health and nutrition products and the acquisition is expected to further strengthen the Company’s pet healthcare and specialty product offerings.
The following table reconciles the purchase price to the cash paid for the acquisition, net of cash acquired (in millions):

Purchase price$175.0 
Less: cash acquired0.2 
Cash paid for acquisition of business, net of cash acquired$174.8 

The following table summarizes the assets acquired and liabilities assumed as of the acquisition date (in millions):

Assets acquired:
Cash and cash equivalents$0.2 
Accounts receivable0.7 
Inventories15.1 
Prepaid expenses and other current assets2.7 
Property and equipment, net4.7 
Operating lease right-of-use assets2.5 
Goodwill73.1 
Identified intangible assets88.0 
Other non-current assets0.2 
Liabilities assumed:
Accounts payable(6.1)
Accrued expenses and other current liabilities(5.8)
Other long-term liabilities(0.3)
Estimated purchase price$175.0 

Based on a preliminary allocation, in connection with this acquisition, the Company recorded goodwill of $73.1 million, the majority of which is anticipated to be deductible for tax purposes. The identified intangible assets consisted of $46.0 million of customer relationships, $33.0 million of trademarks, and $9.0 million of product portfolio with an amortization period of 17, 19, and 6 years, respectively.

During the twenty-six weeks ended August 2, 2026, the Company incurred $7.4 million of transaction-related costs in connection with the SmartPak acquisition. These costs were expensed as incurred and are included in selling, general and administrative expenses in the condensed consolidated statements of operations.

Modern Animal Acquisition

On April 1, 2026, the Company entered into a definitive agreement to acquire Modern Animal, Inc. (“Modern Animal”). Under the terms of the definitive agreement, on May 21, 2026, the Company completed the acquisition of 100% of the issued and outstanding stock in Modern Animal, and Modern Animal became a wholly-owned subsidiary of the Company. Modern Animal is a technology-forward veterinary platform and the acquisition represents an important strategic step in Chewy’s evolution into a fully integrated pet healthcare ecosystem, combining care, commerce and services across the pet lifecycle.

The following table reconciles the estimated purchase price to the cash paid for the acquisition, net of cash acquired (in millions):

Purchase price$399.8 
Less: cash acquired21.8 
Cash paid for acquisition of business, net of cash acquired$378.0 
The following table summarizes the assets acquired and liabilities assumed as of the acquisition date (in millions):

Assets acquired:
Cash and cash equivalents$21.8 
Accounts receivable1.1 
Prepaid expenses and other current assets5.2 
Property and equipment, net67.9 
Operating lease right-of-use assets49.0 
Goodwill221.6 
Identified intangible assets64.0 
Deferred tax assets32.5 
Other non-current assets1.4 
Liabilities assumed:
Accounts payable(3.8)
Accrued expenses and other current liabilities(11.9)
Other long-term liabilities(49.0)
Estimated purchase price$399.8 

Based on a preliminary allocation, in connection with this acquisition, the Company recorded goodwill of $221.6 million, which is not deductible for tax purposes. The identified intangible assets consisted of $39.0 million of customer relationships, $19.0 million of trademarks, and $6.0 million of developed technology with an amortization period of 17, 9 and 4 years, respectively. For more information, see Note 6 - Intangible Assets, net.

During the twenty-six weeks ended August 2, 2026, the Company incurred $8.0 million of transaction-related costs in connection with the Modern Animal acquisition. These costs were expensed as incurred and are included in selling, general and administrative expenses in the condensed consolidated statements of operations.