Chewy’s first Vet Care practice is “already accepting appointments from friends and family,” company officials reported in a letter to shareholders, and the company expects the clinic “to be open to the public imminently.”

“We believe Chewy Vet Care is a natural extension of our ecosystem, and our thoughtfully-designed clinics will be differentiated in the market, thanks to our proprietary health technology platform and the seamless, vertically-integrated connectivity to all aspects of the Chewy ecosystem,” company officials wrote. “We anticipate opening 4-8 clinics this fiscal year, with our first location slated to launch in Florida, close to our company headquarters, and several additional locations scheduled to open in the first half of 2024.”

Chewy unveiled plans to open its first Vet Care practices in December. The clinics offer services including: routine appointments, urgent care and surgery.

We are excited about strategic priorities such as our recently announced Chewy Vet Care clinics, which allows us to expand our [total addressable market] TAM by another approximately $25 billion to address the entirety of the estimated $47 billion U.S. pet health market. 

“Chewy Vet Care has the potential to drive both [net sales per active customer] NSPAC and active customer growth over time, while also offering a steady state margin profile materially above our current business,” officials wrote. 

Officials anticipate the clinics will help the company expand its total addressable market “another approximately $25 billion to address the entirety of the estimated $47 billion U.S. pet health market.”

“Two key leading indicators of success that we plan to track closely include vet hiring and customer demand generation,” officials wrote. “As it relates to vet hiring, we are encouraged by the early signals around our vet recruitment processes, and already have our first sites fully staffed. We look forward to keeping you informed on our progress around this initiative as we progress through the year.”