NEW YORK — PetSmart’s online pet store Chewy is selling its stock in an initial public offering that may revive memories of the days when its breed of internet retailing seemed like a lost cause. Pets.com emerged as most prominent of at least nine online pet stores born during that era. It collapsed nearly 19 years ago with the ignominious distinction of leaving behind a sock puppet as its most valuable asset. Chewy may also have to overcome that spectre , given it lost $267.9 million last year on revenue of $3.53 billion. Millions of consumers now routinely order everything from dog food to diapers online, a trend that has helped establish online retailing pioneer Amazon.com as one of the world’s most valuable companies.

Source: National Post April 30, 2019 03:56 UTC