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CHEWY INC

CHWY

Consumer Discretionary

1

exclusion reason

1 theme

Animal Welfare (1)
CHWY Consumer Discretionary Current as of March 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Exploitation
Since Mar 12, 2026

Chewy, Inc. operates as a major online retailer of pet food, supplies, and medications. In December 2023, the U.S. Food and Drug Administration issued a warning letter to Chewy for introducing misbranded and unapproved antimicrobial animal drugs into interstate commerce, a violation of the Federal Food, Drug, and Cosmetic Act. The FDA’s action targeted nine companies distributing these drugs, which are intended for use in food-producing animals like poultry and cattle, raising concerns about contributing to antimicrobial resistance.

The company’s business model is built on the commercial pet industry, a sector linked to the large-scale breeding of animals. While not a breeder itself, Chewy is a primary retailer for products supporting this ecosystem. Its former parent company, PetSmart, has faced longstanding criticism from animal welfare groups for sourcing animals from commercial breeding facilities, including some with documented animal welfare violations.

Research Sources 1 organization
Cruelty Free Investors
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.