Chewy says closing two oldest non-automated fulfillment centers

Says the supply chain transformation initiatives that the company began in 2021 have helped expand gross margin. Says made the decision to close two oldest non-automated fulfillment centers. Says this action will enable incremental order volume to flow through automated facilities, which will allow the company to realize approximately 50 basis points of additional SG&A leverage in 2023. Says on track to open fourth automated facility in Nashville in the first half of this year. Says in 2023 expects to continue benefiting from the strategic investments made just a few years ago in warehouse automation. Says actively building the capabilities and team to launch our first international market over the next few quarters. Comments taken from Q4 earnings conference call.