Chewy’s upcoming September 9 earnings call will likely highlight AI-driven efficiency gains across customer service, pharmacy, fulfillment, and marketing workflows, with management already projecting low tens of millions in fiscal 2026 savings and a ramp to over $50 million annualized by 2027. Traders are focused on updates around the Modern Animal and SmartPak acquisitions expanding Chewy Vet Care and pet-health services, which are expected to add meaningful revenue while introducing modest near-term margin drag. Persistent macro pressures on consumer spending have prompted a lowered full-year sales outlook to roughly 6-7.5% growth, offset by 84% Autoship recurring revenue and continued adjusted EBITDA margin expansion toward the long-term 10% target. Agentic AI integration and competitive positioning against broader e-commerce platforms remain key swing factors for sentiment.