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    The pet business is ‘recession resilient’: Chewy CEO Sumit Singh

    Chewy’s second quarter earnings prove at least two things. One, pet parents are showing their furry (and not so furry) home companions much love during the COVID-19 pandemic. And two, that the business of pets — per a long-held thesis — holds up well during recessions. “The category is definitely recession resilient. And the data sort of suggests and proves that out,” Chewy CEO Sumit Singh told Yahoo Finance’s The First Trade. Indeed it does. Nielsen data shows that pet food and supplies sales rose 26{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} in stores and 77{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} online at the height of the pandemic in March as pet owners stocked up on goods. While sales at stores…

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