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