Chewy’s upcoming September 9 earnings call for fiscal Q2 will likely center on margin execution amid softer consumer spending, with management emphasizing autoship stability at over 84% of sales, active customer growth near 3-4% year-over-year, and AI-driven efficiencies projected to deliver low tens of millions in savings this year. Recent Q1 results showed 7.7% revenue growth to $3.36 billion and 130 basis points of adjusted EBITDA margin expansion, yet prompted a lowered full-year 2026 sales outlook to 6.3-7.5% growth due to reduced premiumization and discretionary purchases. Key topics include progress on Modern Animal veterinary clinics and SmartPak integration, sponsored ads contribution, and potential guidance updates reflecting macro pressures versus operational leverage. Traders are watching for any signals on 2027 AI ramp-up or clinic footprint expansion toward 60 locations.