UPDATE 2-Pet products retailer Chewy trims fiscal sales target, appoints new CFO

(Adds Q4 sales estimates in paragraph 5)

Dec 6 (Reuters) - Chewy on Wednesday cut its annual sales forecast on weakening demand for pet products, and named David Reeder as its new chief financial officer.

Shares of Chewy were down 10% in extended trading after the company also forecast fourth-quarter sales below expectations and posted a wider-than-expected third-quarter loss.

Pet products retailers such as Chewy, which was co-founded by billionaire Ryan Cohen, has been grappling with inflation that has pushed customers to look for cheaper options and trade down from wet food to more cost-effective dry options.

The company now expects annual net sales between $11.08 billion and $11.10 billion, down from $11.15 billion to $11.35 billion it forecast previously.

Chewy forecast fourth-quarter sales between $2.78 billion and $2.80 billion, compared with expectations of $2.93 billion, according to LSEG data.

The company posted a wider-than-expected loss of 8 cents per share in the third quarter, compared to analysts estimates of a loss of 6 cents.

Reeder, 48, will join Chewy next year February and replace interim CFO Stacy Bowman who will continue to serve as chief accounting officer.

He has most recently served as CFO at GlobalFoundries and was Tower Hill Insurance Group's CEO prior to that.

(Reporting by Annett Mary Manoj; Editing by Shailesh Kuber and Shinjini Ganguli)