Chewy falls after customer growth misses investor expectations

Shares of online pet products retailer Chewy CHWY.N fall 13.3% to $36.39

Company sees Q3 net sales between $3.07 billion and $3.1 billion, compared with analysts' estimate of $3.05 billion

William Blair says "the buy side was looking for sequential active customer growth closer to 175,000 versus the reported increase of 146,000"

It adds that the "miss" on the sequential active customer growth relative to that data will likely weigh on shares today

Company raises its annual sales forecast to $12.5 billion to $12.6 billion, compared with its prior range of $12.30 billion to $12.45 billion

Posts Q2 sales of $3.10 billion vs estimates of $3.08 billion

Jefferies says "the business clearly has momentum, but upside feels limited in this tough macro environment"

Including session moves, stock up 9% YTD