RTTNews | Jun 11, 2021 02:56PM EDT

14:55 Friday, June 11, 2021 (RTTNews.com) - Florida-based pet food e-commerce company, Chewy, Inc.(CHWY) saw its shares go down 5% in the afternoon market on Friday.

The company turned to profit in the first-quarter report released on June 10. Net income was $38 million or $0.09 per share against a loss of $47 million or $0.12 loss per share last year. The earnings beat the Street as the forecast was for a loss of $0.03 per share.

The company forecast net sales to be $2.15 to $2.17 billion in the second quarter, while analysts estimate $2.13 billion. The net sales for the full year are projected to be $8.9 billion to $9.0 billion, compared to the Street view of $8.95 billion.

Currently, the shares are changing hands at $75.05, slipping 5.46% or $4.33. In the 52-week period, the shares have ranged from $44.31 to $120.00.

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