The direct-to-consumer luggage brand is undergoing a larger restructuring that also includes “the elimination of a traditional executive team structure,” according to a statement shared with Retail Dive. 

Staffing changes were made because “the team recognizes the need for a more nimble approach amidst the changing consumer landscape,” according to the statement. 

“We’re reconfiguring the traditional exec team structure in order to promote better decision-making,” CEO Jen Rubio told Inc. “What I think this is doing is setting us up to be able to grow the right teams to work on the right projects.”

“Disruption has always been at the core of our company’s DNA,” the spokesperson said in a statement. “Away is dedicated to delivering the highest-quality travel products and experiences to our customers, and we believe that these steps will better position us to continue to be an innovative leader in the category.”

Away is No. 391 in the Top 1000, Digital Commerce 360’s ranking of North America’s leading retailers by online sales.

Changes at Away

Away held an earlier round of layoffs in May 2023. At the time, it cut 22 employees, including chief commercial officer Laura Willensky.

In 2023, the retailer also expanded its executive team. It hired Carissa Barrett as vice president of retail. She previously worked at Byredo, Saint Laurent, and Prada (No. 187 in Digital Commerce 360’s Europe Database). At the same time, Away hired Amanda Brody as vice president of brand. Brody previously worked at L’Oreal (No. 17 in Europe) and Charlotte Tilbury. 

In January 2023, Away brought on Carla Dunham as chief marketing officer with a mandate to increase marketing spending and capitalize on post-pandemic travel.

Away may have grown its executive team too quickly, Rubio told Inc.

“I was really proud that Away was able to attract people with such impressive accolades and such great experience,” she said. “Maybe I was in a little bit of a rush to have the company grow up so quickly, and in the midst of that, we lost a little bit of the magic that got us here.”

Away’s possible sale

Away was exploring a potential sale in 2023, Bloomberg reported.

Rubio told Inc. that’s not the plan for 2024. However, “there has to be some plan on the horizon” for an IPO or acquisition eventually, she said.

This year, Away will focus on increasing the number of product launches and working with retailers on wholesale, according to Rubio.

Other online retail and ecommerce layoffs

Away joins other retailers and marketplaces in announcing recent layoffs. EBay plans to lay off 1,000 workers, 9% of its total workforce. EBay ranks No. 6 in Digital Commerce 360’s Global Online Marketplaces database. The database ranks the 100 largest such marketplaces by third-party GMV.

Macy’s, Amazon, and Wayfair also all cut their workforces in the first month of 2024. In addition, REI announced that it would lay off 357 employees, about 2.2% of the retailer’s total workforce, The Seattle Times reported.

Macy’s ranks No. 17 in the 2023 Digital Commerce 360 Top 1000. Amazon ranks No. 1, Wayfair ranks No. 10, and REI ranks No. 67.

Levi Strauss (No. 191) also said it would lay off 10% to 15% of its corporate workforce, and Estee Lauder (No. 43) will lay off 3% to 5%.

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Parentheses indicate the merchant’s ranking in the Top 1000.

Amazon.com Inc. (No. 1)

Amazon beat expectations with earnings for its fiscal fourth quarter ended Dec. 31, 2023. Its net sales in the quarter grew 14% year over year to $170.0 billion.

Full-year sales grew 12% to $574.8 billion in 2023, up from $514.0 billion in 2022.

Read more about Amazon’s earnings here.

Alibaba Group 

Alibaba’s revenue grew 5% to $36.67 billion in its third quarter ended Dec. 31.

Alibaba owns the world’s two largest online marketplaces by gross merchandise value (GMV), Taobao and Tmall. Taobao ranks No. 1 in the Global Online Marketplaces Database, Digital Commerce 360’s ranking of the largest such marketplaces by GMV. Tmall ranks No. 2. Taobao and Tmall grew their combined revenue 1% to $17.43 billion.

Read more about Alibaba’s earnings here.

Bark (No. 186)

Bark reported revenue declined 6.9% to $125.1 million in its fiscal third quarter ended Dec. 31. Results were at the high end of Bark’s expectations. The retailer attributed the sales decline to fewer total orders due to a decrease in subscribers. Direct-to-consumer (DTC) sales, which make up the bulk of revenue, declined 7.6%. However, improvements to Bark’s website are driving increases in traffic and conversion, the retailer said.

Canada Goose (No. 218)

Canada Goose said total revenue grew 6% to $609.9 million in its fiscal third quarter ended Dec. 31. DTC revenue grew 14% due to growing in-store retail sales, partially offset by a decline in ecommerce. Wholesale sales, meanwhile, declined 28%. Canada Goose is evaluating its online product assortment to potentially make room for new categories going forward, said Jonathan Sinclair, chief financial officer.

The Container Store (No. 347)

The Container Store net sales declined 14.8% to $214.9 million in its fiscal third quarter ended Dec. 30. Online sales declined even more drastically, down 26.3% year over year. Website-generated sales, which include those designated for curbside pickup, declined 15.8%, accounting for 21.8% of net sales in the quarter. That’s flat with Q3 last year, the retailer said.

Costco Wholesale Corp. (No. 6)

Costco said net sales grew 6.1% to $56.72 billion in its first fiscal quarter of 2024 ended Nov. 26, 2023. Ecommerce comparable sales grew 6.3% in the same period. E-gift cards, snacks and pet items were all strong in the ecommerce channel, the retailer said.

Read more on Costco’s earnings here.

E.l.f. Cosmetics Inc. (No. 951)

E.l.f. Reported it grew net sales 85% to $270.9 million in its fiscal third quarter ended Dec. 31. Online sales made up 24% of total revenue, compared to 18% in the year-ago period. Loyalty members are a driving force behind online sales growth, the retailer said, accounting for nearly 80% of online sales. The Beauty Squad loyalty program has 4.5 million members, and grew 30% year over year, e.l.f. said.

Estee Lauder (No. 43)

Estee Lauder reported net sales declined 7% to $4.28 billion in its second fiscal quarter ended Dec. 31. The retailer attributed much of the sales decline to waning demand in China. It will lay off 3% to 5% of its workforce in 2024.

Read more about Estee Lauder’s earnings here.

Mattel (No. 205)

Mattel reported net sales grew 16% to $1.6 billion in its fiscal fourth quarter ended Dec. 31, while sales were flat for the year. Dolls, vehicles, games and building sets were the most successful categories, the retailer said.

“We expect the toy industry to decline in 2024, although at a lesser rate than 2023. The anticipated decline is due to a lighter toy theatrical film slate and the impact of the shift in consumer spending patterns towards experiences and services, which we believe will moderate over the year,” CEO Ynon Kreiz told investors.

PetMed Express Inc. (No. 354)

PetMed Express reported net sales for its fiscal third quarter ended Dec. 31 grew 11% year over year to $65.3 million. Recurring orders through the AutoShip & Save and PetPlus programs made up the majority of sales, accounting for 52.2% of revenue. That’s an increase from 42.3% of revenue in the year-ago period.

The retailer noted that pet food is a small but fast-growing part of the business. PetMed Express recently added the brand Hill’s Science Diet and has plans to pursue more premium pet food partnerships in the future.

Ralph Lauren (No. 78)

Ralph Lauren said revenue grew 6% to $1.9 billion in its fiscal third quarter ended Dec. 30. Global direct-to-consumer (DTC) same-store sales grew 9% over the same period. Gross profit was $1.3 billion, the retailer said.

Read more about Ralph Lauren’s earnings here.

Tapestry (No. 44)

Tapestry reported a 3% increase in net sales to $2.08 billion in its fiscal second quarter ended Dec. 30. Online sales grew in the single digits, the retailer said, making up one-third of total revenue. Direct-to-consumer revenue grew 4% over the period. Tapestry also opened a new fulfillment center in Las Vegas as part of a plan to grow omnichannel capabilities, the retailer said.

Target Corp. (No. 5)

Third-quarter sales declined 4.9% for the mass merchant, to $25 billion from $26.12 billion in its fiscal third quarter ended Oct. 28. Meanwhile, Target online sales decreased 6% year over year. Moreover, Target’s online sales declined 6.7% year over year for the first nine months of its fiscal year.

Read more about Target’s earnings here.

Under Armour Inc. (No. 97)

Under Armour reported 2% growth in ecommerce revenue during its fiscal 2024 third quarter, which ended Dec. 31, 2023. Total revenue declined 6% to $1.5 billion.

Read more about Under Armour’s earnings here.

Walmart Inc. (No. 2)

Walmart reported that U.S. online sales grew 24% for its fiscal 2024 third quarter ended Oct. 27. Global ecommerce sales grew 15% over the same period, while international ecommerce declined 3%.

U.S. comparable sales grew 4.9%, and total revenue grew 5.2% to $160.8 billion.

Read more about Walmart’s earnings here.

The Walt Disney Company Ltd. (No. 100)

Disney said revenue for its fiscal first quarter ended Dec. 30 was flat from the year-ago period at $23.5 billion. DTC revenue, which includes the company’s streaming channels, grew 15% to $5.5 billion in the quarter. The DTC segment led to an operating loss of $138 million, but that’s a decrease of 86% from the loss in Q1 of 2023. The company said it projects streaming to become profitable in fiscal 2024.

So what does it mean?

• The pet industry is subject to the same troubles facing other retailers. PetMed Express reported success with the same strategy that’s been successful for Chewy based on food and medications. Meanwhile, Bark felt a pullback in more discretionary pet items.
• e.l.f.’s 85% sales growth on top of the 49% it grew in Q3 2023 shows that the cosmetics retailer isn’t slowing down as it gains name recognition and expands on social media platforms.

Ecommerce earnings calendar

Here’s when other ecommerce earnings are scheduled to report this quarter:

• Amazon.com Inc.: Feb. 1
• Best Buy Co Inc.: Feb. 29.
• Costco Wholesale Corp.: Dec. 14
• The Home Depot Inc.: Feb. 20
• Lowe’s Cos Inc.: Feb. 27
• Target Corp.: March 5
• Walmart Inc.: Feb. 20

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ThriftBooks ranks No. 319 in the Top 1000, Digital Commerce 360’s database of North America’s largest online retailers by web sales.

ThriftBooks, generative AI and LLMs

Using generative AI and large language models (LLMs) to improve the ThriftBooks.com experience is a top priority this year, Hagen said.

“Generative AI is a big focus. And so is using the large language models to find a new way to connect our customers with books that they might not have known they were looking for,” she said. 

The online bookseller uses AI to make relevant recommendations on books to customers, she said. For example, the proprietary technology learns that customers who read a specific recent bestseller tend to purchase other subgenres, which it can then recommend to them. As more customers purchase through ThriftBooks’ website, the recommendations become better because they have more data to draw on.

“This customized approach helps to create a ‘surprise and delight’ customer experience, ultimately leading to increases in customer engagement and retention,” Hagen said, without sharing specific figures. 

Recommendations are important because ThriftBooks has a vast inventory of books. It sells 19 million titles, Hagen said.

“It’s a lot of information for a human to be able to process,” she said. With LLMs, though, they can “make that experience that much more succinct and manageable without having to add costs to the system.”

The LLMs generate summaries of books based on product descriptions, author biographies, and reviews to present the information in a digestible way for consumers. That’s particularly useful for less popular books, like out-of-print titles that ThriftBooks sells, she said. 

The retailer started rolling out these tools in early 2023, with plans to continue experimenting in 2024. It uses open-source machine learning libraries and is experimenting with various LLMs, Hagen said without revealing more.

ThriftBooks’ loyalty program

ThriftBooks has a few other tools to engage with customers. Its loyalty program, ReadingRewards, is also key to customer retention, Hagen said. The program contains three tiers:

• Reader: free to join
• Bookworm: $75 in annual spending
• Literati: $150 in annual spending

Members earn points for shopping with ThriftBooks, and members in higher tiers earn more points per dollar spent with the retailer. 

“The best thing about the loyalty program is we give out free books. So it’s not like you’re redeeming points for dollars off,” Hagen said. “Our customers love to get free books, and so it’s really been a way for our customers to engage with us and get excited about their free books when they arrive in the mail.” 

The free book rewards also provide a low-risk way for members to experiment with AI-generated recommendations.

“Part of using large language models is helping customers find a book that maybe they didn’t know existed. There’s a book you’re not familiar with, and you try it, and then hopefully it’s something that they really enjoy,” Hagen said.

ReadingRewards members are more likely to return to ThriftBooks, she said. The top Literati tier grew 30% year over year in 2023, and the middle Bookworm tier grew 20%.

ThriftBooks and social media

An active social media presence is keeping ThriftBooks in touch with a younger audience of consumers, Hagen said.

“What we’ve seen in the last several years is Booktok, and the whole TikTok space has really taken off, and it’s really helped us create some resonance with a younger generation, a younger set of consumers,” she said.

Booktok refers to TikTok videos about books, which publishers credit with selling 20 million copies in 2021.

ThriftBooks sees gains from social media without directly selling there, Hagen explained. The retailer does not sell on TikTok Shop and has no current plans to. Instead, it capitalizes on videos created by customers, reposting unboxing videos, for example. ThriftBooks has more than 166,000 followers. That’s also why ThriftBooks doesn’t spend much on influencer marketing, she said. There’s simply enough organic content out there for free as consumers create their own videos about ThriftBooks and engage with the retailer’s videos.

One exception was in celebration of ThriftBooks’ 20th anniversary last year. The retailer invited BookTok influencers to tour one of its processing centers and share videos with their followers. That was particularly popular, she said.

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In November 2021, Emerge Commerce Ltd., a Toronto public company, acquired Retail Store Networks Inc. Retail Store Networks operates the B2B marketplace WholesalePet.com.

Now, to pay down debt, Emerge Commerce has signed a definitive deal to sell WholesalePet.com. to Tiny Ltd., a Canadian investment firm that acquires ecommerce companies.

The deal is expected to close at the end of January. “We are excited to partner with Tiny for the next stage of growth at WholesalePet,” founder Robert Nelson said in a press release. In the announcement, the parties stated that Emerge Commerce signed a definitive agreement to sell WholesalePet.

“Tiny’s long-term oriented approach and experience with marketplace businesses will enable us to continue to improve our platform and best serve our customers for years to come,” said Nelson.

What is WholesalePet.com?

WholesalePet.com is a B2B ecommerce marketplace connecting more than 8,000 independent retail locations with hundreds of independent pet supplies vendors. It offers more than 1 million SKUs. Founded in 2001, WholesalePet.com has facilitated more than $250 million in gross merchandise sales over the last 20 years. The average customer tenure reached 10 years.

Emerge Commerce will use the money from the sale to pay down debt and focus on its other core vertical markets, says CEO  Ghassan Halazon. “Consistent with the strategy we laid out in 2023 to prioritize debt paydown by exploring all strategic options available to the company, the sale of WSP marks our most substantial transaction to date, eliminating the majority of our debt, saving us an estimated $1.38M in annual interest expense, and paving the way for a refresh scenario to double down on our profitable grocery and golf businesses, with a focus on driving organic growth in 2024,” he says.

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Parentheses indicate the merchant’s ranking in the Top 1000.

Adobe Inc. (vendor to the Top 1000)

Adobe reported revenue grew 12% year over year to $5.05 billion in its fiscal fourth quarter ended Dec. 1. Net income grew 26% to $1.48 billion. Despite the strong quarter, forecasts of $21.3 billion to $21.5 billion in 2024 revenue came in below analyst expectations.

Adobe provides analytics technology to 203 Top 1000 retailers, website design and development tools to 100 and an ecommerce platform to 84. The technology vendor also shared online sales data, finding that Cyber 5 online sales grew 7.8% to $38.0 billion in 2023.

Amazon.com Inc. (No. 1)

Amazon recorded its highest operating income ever in its fiscal third quarter ended Sept. 30. Operating income nearly quadrupled year over year, growing 343%.

Read more about Amazon’s earnings here.

Costco Wholesale Corp. (No. 6)

Costco said net sales grew 6.1% to $56.72 billion in its first fiscal quarter of 2024 ended Nov. 26. Ecommerce comparable sales grew 6.3% in the same period. E-gift cards, snacks and pet items were all strong in the ecommerce channel, the retailer said.

Read more on Costco’s earnings here. 

Scholastic Corp. (No. 95)

Scholastic reported revenue declined 4% in its fiscal second quarter of 2024 ended Nov. 30.

“Second-quarter results came in below expectations for profit growth, however, largely reflecting lower than forecast participation and spending in our School Reading Events division, which we expect to continue for the remainder of this school year,” CEO Peter Warwick said in a statement. The educational retailer pointed to strength in sales of new editions of popular book franchises including “The Harry Potter Wizarding Almanac” and “The Ballad of Songbirds and Snakes.” 

Target Corp. (No. 5)

Third-quarter sales declined 4.9% for the mass merchant, to $25 billion from $26.12 billion in its fiscal third quarter ended Oct. 28. Meanwhile, Target online sales decreased 6% year over year. Moreover, Target’s online sales declined 6.7% year over year for the first nine months.

Read more about Target’s earnings here.

Vera Bradley Retail Stores LLC (No. 277)

Vera Bradley recorded a revenue decline of 5% to $115.0 million in its third fiscal quarter of 2024 ended Oct. 28. Direct revenue through Vera Bradley stores declined due to store closures and weak demand in outlet locations, the retailer said. Sales through specialty and department stores increased year over year. The digitally native Pura Vida segment declined 18.3% to $17.8 million due to a drop in ecommerce sales, partially offset by in-store growth, the retailer said.

Walmart Inc. (No. 2)

Walmart reported that U.S. online sales grew 24% for its fiscal 2024 third quarter ended Oct. 27. Global ecommerce sales grew 15% over the same period, while international ecommerce declined 3%.

U.S. comparable sales grew 4.9%, and total revenue grew 5.2% to $160.8 billion.

Read more about Walmart’s earnings here.

So what does it mean?

• Costco is back to growing its online business and has plans to improve its website user experience, a sign that the membership retailer sees a future in ecommerce.
• While consumers are still spending on groceries, more discretionary items like purses and books are taking a backseat, as evidenced by Vera Bradley and Scholastic results.

Ecommerce earnings calendar

Here’s when to expect other ecommerce earnings this quarter:

• Amazon.com Inc.: Oct. 26
• Best Buy Co Inc.: Nov. 21
• Chewy Inc.: Dec. 6
• Costco Wholesale Corp.: Dec. 14
• The Gap Inc.: Nov. 16
• The Home Depot Inc.: Nov. 14
• Lowe’s Cos Inc.: Nov. 21
• Macy’s Inc.: Nov. 16
• Target Corp.: Nov. 15
• Walmart Inc.: Nov. 16

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Submit your data and we’ll see where you fit in our next ranking update.

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Parentheses indicate the merchant’s ranking in the Top 1000.

Amazon.com Inc. (No. 1)

Amazon recorded its highest operating income ever in its fiscal third quarter ended Sept. 30. Operating income nearly quadrupled year over year, growing 343%.

Read more about Amazon’s earnings here.

Academy Sports and Outdoors Inc. (No. 136)

Net sales declined 6.4% to $1.4 billion in its fiscal third quarter ended Oct. 28. Online sales made up 9.4% of total sales, down slightly from 9.5% penetration in Q2.

“Our sales and net earnings for the third quarter came in below expectations, primarily driven by weakening consumer sentiment coupled with above-normal temperatures that negatively impacted demand for Fall product,” CEO Steve Lawrence said in a written statement. 

Big Lots Inc. (No. 253)

Big Lots reported net sales declined 14.7% to $1.0 billion in its fiscal third quarter ended Oct. 28. Comparable sales declined 13.2%. Despite the sales decrease, Big Lots is on track to record year-over-year growth in Q4 for the first time in three years, the retailer said. The retailer did not share online sales data, but CEO Bruce Thorn says it has plans to improve listings of big-ticket furniture items and seasonal products online.

Chewy Inc. (No. 13)

Chewy net sales grew 8.2% to $2.74 billion in its fiscal third quarter ended Oct. 29. Autoship subscription orders remain the bulk of the business, growing 13% and making up 76% of net sales. About 85% of sales are consumable products like food and medications, Chewy said, and consumers are not trading down to non-premium alternatives. More discretionary categories like treats and toys have slowed, though, the retailer says.

Designer Brands Inc. (No. 77)

Designer Brands reported net sales declined 9.1% to $786.3 million in its fiscal third quarter ended Oct. 28. Comparable sales declined 9.3%.

“This quarter, we were impacted by a footwear market that contracted for the first time since COVID coupled with unseasonably warm weather, which significantly reduced customer demand for shoes and pressured our heavily seasonal assortment,” CEO Doug Howe said in a written statement.

Howe says he does not foresee pressure alleviating in the near term.

Dollar General Corp. (No. 724)

Dollar General net sales increased 2.4% to $9.7 billion in its fiscal third quarter ended Nov. 3. Growth was primarily driven by new store openings, the retailer said, while same-store sales declined 1.3%.

Average transaction amount declined as Dollar General consumers are squeezed by high prices across the economy, causing them to purchase less, CEO Todd Vasos told investors. Meanwhile, operating profit decreased by 41.1%.

Five Below Inc. (No. 581)

Five Below grew net sales 14.2% to $736.4 million in its fiscal third quarter ended Oct. 28. Much of the growth is attributable to the 74 new stores it opened in the quarter. Comparable sales grew 2.5%.

Online penetration remains low, says CEO Joel Anderson. Sales of discretionary categories including games, toys, and Halloween items were strong, the discount retailer says.

Foot Locker Inc. (No. 51)

Foot Locker’s total sales declined 8.6% to $1.9 billion in its fiscal third quarter ended Oct. 28. Comparable store sales declined similarly, down 8.0% “driven by ongoing consumer softness,” the retailer said in a statement.

Online comparable sales declined 5.6% over Q3 2022, mostly due to Foot Locker shuttering its East Bay online brand. Excluding East Bay, ecommerce comparable sales grew 0.4%. Online sales made up 17% of total sales in the quarter.

J. Jill Inc. (No. 247)

J. Jill reported net sales declined 0.1% to $150.1 million in its fiscal third quarter ended Oct. 28. Direct-to-consumer net sales declined 0.5%, making up 45.3% of total sales. The retailer also noted an increase in return rates due to customers becoming more discerning with discretionary spending.

Joann Inc. (No. 308)

Net sales at Joann declined 4.1% to $539.8 million in its fiscal third quarter ended Oct. 28. Online sales grew 11.5%, accounting for 13.1% of total sales.

“Our ecommerce performance was particularly strong, with double-digit quarter growth as we delivered a better and faster consumer experience and benefitted from site enhancements driving increased conversion,” CEO Chris DiTullio said in a written statement.

The crafts retailer is growing an Ohio fulfillment center with hopes of lowering fulfillment costs. 

Kirkland’s Inc. (No. 519)

Kirkland reported net sales declined 9.2% to $116.4 million in its fiscal third quarter ended Oct. 28. Online sales declined 8.5%, driven by decreases in average ticket and traffic. Declines were partially offset by an increase in conversion, the home decor retailer said. Furniture and wall decor sales flagged in the quarter, while early Christmas sales were strong, Kirkland said.

Land’s End (No. 79)

Net revenue at Land’s End declined 12.5% to $324.7 million in its fiscal third quarter ended Oct. 27. Ecommerce net revenue declined 13.2% to $249.2 million, or 9.7% excluding Land’s End Japan, which closed at the end of fiscal 2022. Despite overall declines, almost every women’s category grew sales double digits online in Q3, Land’s End said.

U.S. ecommerce gross profit grew 7% due to reduced promotions and better inventory management, the retailer said.

Petco Health and Wellness Company, Inc. (No. 92)

Petco comparable sales remained flat year over year in its fiscal third quarter ended Oct. 28. Revenue from consumables and services grew 1.8% and 15.0%, respectively. That was offset by an 8.8% decline in the companion animal business, leading to a 0.5% decline in net revenue to $1.49 billion.

The pet retailer recorded revenue growth in its digital business, it said without sharing specifics. BOPIS (buy online, pick up in store) and same-day delivery both grew in the quarter, Petco said.

Rent the Runway Inc. (No. 311)

Rent the Runway recorded a 6.3% decrease in net sales in its fiscal third quarter ended Oct. 31. Average active subscribers grew 4% to 134,646 over the year-ago period, while total subscribers remained flat.

Rent the Runway is expected to resume growing as it addresses a lack of inventory preferred by its members, CEO Jennifer Hyman said. Net loss in the quarter was $31.5 million, with plans to break even in 2024, Hyman says.

Stitch Fix Inc. (No. 42)

Stitch Fix reported net revenue declined 18% to $364.8 million in its fiscal first quarter of 2024 ended Oct. 28. The online styling service said net active membership declined 15% year over year, and net revenue per active client decreased 6%. Stitch Fix is also implementing generative AI in stylist notes to clients, and scaling its AI buying tool with plans to be used in 50% of orders by the end of fiscal 2024.

Target Corp. (No. 5)

Third-quarter sales declined 4.9% for the mass merchant, to $25 billion from $26.12 billion in its fiscal third quarter ended Oct. 28. Meanwhile, Target online sales decreased 6% year over year. Moreover, Target’s online sales declined 6.7% year over year for the first nine months.

Read more about Target’s earnings here.

Ulta Beauty Inc. (No. 46)

Ulta recorded a net sales increase of 6.4% to $2.5 billion in its fiscal third quarter ended Oct. 28. Comparable sales, including ecommerce, grew 4.5%, driven by 10% growth in online sales.

Ulta noted a 5.9% increase in transactions and 1.4% decrease in average ticket. The beauty retailer expects the online business to grow faster than its brick-and-mortar stores in 2024.

Victoria’s Secret & Co. (No. 52)

Victoria’s Secret net sales declined 4.0% to $1.3 billion in its fiscal third quarter ended Oct. 28. Online sales made up 35% of revenue in the quarter, up from 30% in the year-ago period.

Average basket size and conversion online both grew. Growing the online business further is the top priority going forward, CEO Martin Waters told investors.

Walmart Inc. (No. 2)

Walmart reported that U.S. online sales grew 24% for its fiscal 2024 third quarter ended Oct. 27. Global ecommerce sales grew 15% over the same period, while international ecommerce declined 3%.

U.S. comparable sales grew 4.9%, and total revenue grew 5.2% to $160.8 billion.

Read more about Walmart’s earnings here.

Zumiez Inc. (No. 453)

Zumiez net sales declined 8.9% to $216.3 million in its fiscal third quarter ended Oct. 28. That was a result of fewer transactions, but an increase in transaction size, Zumiez says. The footwear retailer did not share specific online sales data, but digital results were “just a little bit better than our overall result,” Chris Work, chief financial officer, told investors.

So what does it mean?

• Unseasonably warm weather was a challenge for retailers with specialized products. Academy Sports & Outdoors and Designer Brands executives both mentioned the impact of warm weather cutting into anticipated sales of winter gear.
• Selling discounted products isn’t enough to stand out in a competitive retail environment with increasingly choosy customers. Dollar General still managed to grow sales, although at a reduced pace from the previous quarter. Big Lots sales remain down year over year.

Ecommerce earnings calendar

Here’s when to expect other ecommerce earnings this quarter:

• Amazon.com Inc.: Oct. 26
• Best Buy Co Inc.: Nov. 21
• Chewy Inc.: Dec. 6
• Costco Wholesale Corp.: Dec. 14
• The Gap Inc.: Nov. 16
• The Home Depot Inc.: Nov. 14
• Lowe’s Cos Inc.: Nov. 21
• Macy’s Inc.: Nov. 16
• Target Corp.: Nov. 15
• Walmart Inc.: Nov. 16

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The post Ecommerce earnings recap: What you missed from Chewy, Land’s End, Footlocker and more appeared first on Digital Commerce 360.

Parentheses indicate the merchant’s ranking in the Top 1000.

Amazon.com Inc. (No. 1)

Amazon recorded its highest operating income ever in its fiscal third quarter ended Sept. 30. Operating income nearly quadrupled year over year, growing 343%.

Read more about Amazon’s earnings here.

Allbirds Inc. (No. 343)

Allbirds reported net revenue declined 21.2% to $57.2 million in the third quarter ended Sept. 30. The decline was due to decreases in selling price from promotions and a decline in units sold. Net loss was $31.6 million. Allbirds will launch on a “leading digital marketplace” in the U.S. in the coming weeks, the retailer said.

Bark Inc. (No. 187)

Bark reported revenue declined 14.4% to $123.0 million in its fiscal second quarter of 2024 ended Sept. 30. Direct-to-consumer revenue declined 11.3% to $104.3 million, and it made up the majority of total revenue.

“Macroeconomic headwinds continue to pressure the dog toy industry, which is down double digits this fiscal year. … In less discretionary categories like consumables, we have made important progress across both our direct-to-consumer and retail channels,” CEO Matt Meeker said in a statement.

Cricut Inc. (No. 472)

Cricut reported revenue declined 1% year over year to $174.9 million in its fiscal third quarter ended Sept. 30. However, operating income grew 36% in the same period. The technology company did not share ecommerce sales figures, but it is “encouraged” by Amazon Prime Day results, says CEO Ashish Arora. Cricut has plans for more short-lived but deep promotions during the holiday season to increase conversion.

EBay Inc. (No. 6 in marketplaces)

In its fiscal third quarter ended Sept. 30, eBay revenue grew 5% year over year. That’s up to $2.5 billion from $2.38 billion in Q3 2022. Meanwhile, eBay GMV grew 2% year over year. It reached $17.99 billion in Q3.

Read more about eBay’s earnings here.

The Honest Company Inc. (No. 704)

The Honest Company reported revenue grew 2% to $86 million in its fiscal third quarter ended Sept. 30. Online sales accounted for $40.1 million in revenue, growing 19% year over year while retail sales fell 9%.

“Robust consumption on Amazon” was a significant part of the digital growth, along with price increases, the retailer said.

Lulu’s Fashion Lounge Holdings Inc. (No. 203)

Lulu’s reported net revenue declined 21% to $83.1 million in the third quarter ended Oct. 1. The decline was driven by a 19% decrease in total orders, along with more promotions and a higher return rate. 

“In the third quarter of 2023, we continued to see the impact of macroeconomic headwinds on consumer spending and purchasing behavior,” CEO Crystal Landsem said in a statement.

Ralph Lauren Corp. (No. 78)

Ralph Lauren reported online sales in North America grew 4% in the third quarter ended Sept. 30. Brick-and-mortar sales in North America grew at the same rate. In the rest of the world, though, online sales outpaced in-store sales. They grew 19% in Asia and 14% in Europe. Total revenue increased 3% in the quarter.

The RealReal Inc. (No. 461 in Top 1000, No. 36 in marketplaces)

The RealReal reported revenue declined 7% to $133 million in the third quarter ended Sept. 30. Gross merchandise volume (GMV) also decreased, down 8% to $408 million. The retailer both sells used purses that it owns, and facilitates a marketplace for selling the same products.

“Our strategic shift to refocus on the higher-margin portion of the consignment business is delivering significant progress in our results,” CEO John Koryl said in a statement. Consignment revenue grew 10% in the quarter.

Steve Madden Ltd. (No. 261)

Steve Madden reported revenue declined 0.7% to $552.7 million in the third quarter ended Sept. 30. Direct-to-consumer revenue declined 1.8% to $116.4 million in the same period. That decline was largely driven by a decrease in ecommerce sales, the retailer said without revealing more. Consumers are increasingly shopping during holidays and promotional events, with fewer purchases in between, says CEO Edward Rosenfeld.

Target Corp (No. 5)

Target announced that digital sales declined 10.5% year over year in the fiscal second quarter ended July 29. The retailer’s Drive-Up service led online sales, Target says.

Meanwhile, comparable in-store sales declined 4.3% versus Q2 last year. Target’s total revenue in Q2 reached $24.8 billion. That’s down 4.9% year over year. Operating profit after taxes was $3.89 billion, down from $4.63 billion in the year-ago period. Read more here.

Walmart (No. 2)

Walmart announced that U.S. online sales grew 24% for its fiscal second quarter ended July 28. International ecommerce sales grew 26%. Ecommerce sales were fueled by pickup and delivery orders.

Over the same period, comparable in-store sales grew more modestly, up 6.4%, excluding fuel. Total revenue grew, too, by 5.7% to $161.6 billion. Read more here.

Under Armour Inc. (No. 97)

Under Armour reported ecommerce revenue grew 2% in the second quarter of fiscal 2024 ended Sept. 30. Ecommerce accounted for about $208 million in revenue, according to Digital Commerce 360 estimates. Direct-to-consumer revenue, which includes ecommerce, grew 3% to $596 million. Total revenue remained flat at $1.6 billion, Under Armour said. 

Read more on Under Armour’s earnings here.

The Walt Disney Co. Ltd. (No. 100)

Disney reported revenue for the fourth quarter ended Sept. 30 grew 5%, and revenue for the year grew 7%. The entertainment company says its direct-to-consumer business accounted for $5.5 billion in revenue in the quarter, up 13% year over year, and $21.9 billion for the year. It resulted in a loss of $387 million for the quarter and $2.6 billion for the year. Disney defines its direct-to-consumer sector as including Disney+ and Hulu streaming services.

Warby Parker (No. 340)

Warby Parker reported net revenue grew 14.2% to $169.8 million in the third quarter ended Sept. 30. Net loss was $17.4 million. Ecommerce sales grew 3%, driven by marketing and the growth of Warby Parker’s contact business, which is mostly online, the retailer said. Ecommerce now represents 33% of revenue, in line with levels before the pandemic. 

Yeti Holdings Inc. (No. 135)

Yeti reported sales were flat year over year in its third quarter ended Sept. 30. Direct-to-consumer sales grew 14% to $259.5 million in the quarter, while wholesale sales declined 16%. Yeti had a successful Amazon Prime Day in July with discounts on older colors and products, the retailer said.

1-800-Flowers.com Inc. (No. 47)

1-800-Flowers reported total consolidated revenue declined 11.4% to $269.1 million the fiscal first quarter ended Oct. 1. Gourmet food and gift baskets, consumer florals and gifts, and BloomNet wholesales revenues declined 9.3%, 12.3%, and 13.5%, respectively. 

“Our fiscal first quarter is comprised of everyday or just-because gift giving occasions, which has been challenged over the past year as consumers reduced their discretionary spending in response to the macro environment,” CEO Jim McCann said in a statement.

So what does it mean?

• Discretionary items, like pet toys and gift baskets, remained under pressure across the board as consumers slowed spending ahead of the holidays.
• Amazon Prime Day drove sales for specialty retailers Cricut and Yeti.

Ecommerce earnings calendar

Here’s when to expect other ecommerce earnings this quarter:

• Amazon.com Inc.: Oct. 26
• Best Buy Co Inc.: Nov. 21
• Chewy Inc.: Dec. 6
• Costco Wholesale Corp.: Dec. 14
• The Gap Inc.: Nov. 16
• The Home Depot Inc.: Nov. 14
• Lowe’s Cos Inc.: Nov. 21
• Macy’s Inc.: Nov. 16
• Target Corp.: Nov. 15
• Walmart Inc.: Nov. 16

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The post Ecommerce earnings recap: What you missed from Ralph Lauren, Bark, and more appeared first on Digital Commerce 360.

“Buy Buy Baby is back and is guaranteed to be better than ever,” says a spokesperson for the revived retailer.

The company planned to unveil its ecommerce site offering baby and maternal products in October ahead of the stores, but late in the month, it rescheduled both the online and store openings for simultaneous launch in mid-November. The spokesperson didn’t say why. The stores will be in locations ranging from Maryland to Massachusetts.

Buy Buy Baby had 115 stores nationwide earlier in 2023, but they all closed this summer after parent company Bed Bath & Beyond Inc. filed for bankruptcy in April. Piscataway, New Jersey-based Dream On Me Inc., a manufacturer of cribs and other nursery furniture that had been a vendor to the old Buy Buy Baby, acquired the defunct retailer’s intellectual property out of bankruptcy for $15.5 million in July, the business publication NJBiz reported. In a separate auction, Dream On Me also acquired 11 Buy Buy Baby store leases in the Northeast for $1.17 million. Those locations will be the first of more than 100 planned stores to reopen, according to NJBiz.

What’s next for Buy Buy Baby and its ecommerce site

For the moment, Buy Buy Baby isn’t revealing much about its coming ecommerce site and mobile app.

In a statement, the spokesperson says “shoppers can engage with their favorite brands and receive expert advice to find the right products. Customers can also download the registry app in-store and on buybuybaby.com and scan items directly from their phones to add to the registry.” She adds that Buy Buy Baby will have “a fully ownable registry experience where customers directly add and purchase items off the dedicated app.”

The spokesperson says company executives won’t be giving interviews until about the time of launch. Buy Buy Baby’s new chief executive officer is Pete Daleiden, who came to the company in August from retailer Bealls Inc., where he worked for about a year in senior merchandising positions. Before that, he spent 16 years at Bed Bath & Beyond, mostly as a merchandising executive, according to his LinkedIn profile.

Online retailer Overstock.com Inc. acquired Bed Bath & Beyond’s intellectual property in June for $21.5 million and has taken the Bed Bath & Beyond moniker as its brand name, although the firm’s legal name remains Overstock.

Overstock.com ranks No. 50 in the Top 1000. The database is Digital Commerce 360’s ranking of the largest North American online retailers. Bed Bath & Beyond ranked No. 47 prior to its bankruptcy.

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That product is Petcube Cam, a wifi camera that allows people to watch and interact with their pets remotely.

The Petcube cam won a “Best Deal” designation from Amazon during the Prime Day sales event, boosting sales of the watch-your-pet-when-you’re-not-home device.

Klen told Digital Commerce 360 that his company “managed to get the ‘Best Deal’ offer for Petcube Cam” from Amazon. That ensured that large numbers of shoppers were exposed to the product. “And we were lucky it was applied during the first day of Prime.”

Klen said sales numbers suggest that shoppers were excited about Prime Day this year and had planned purchases of Petcube products well in advance of the two-day sales event.

“We had lower conversion a couple of days prior to Prime Day followed by the massive explosion for the first hours on the date. Most likely, people were adding the products to the cart beforehand,” Klen said.

Amazon is No. 3 in Digital Commerce 360’s new 2023 Global Online Marketplaces Report. It ranks the 100 largest global marketplaces by 2022 third-party GMV.

Prime Day success

Doing well on Prime Day is crucial for many merchants. It can be a make-or-break day for retailers like Petcube that use the Amazon marketplace as the primary channel for online sales. Given the high stakes, Petcube puts considerable effort into getting things right.

The retailer bought ads for sponsored products, sponsored brands and display ads. Petcube also “optimized heavily for keywords and spending,” Klen said. “We take pride in developing a super-efficient automated script that pulls all of our key metrics into a designated spreadsheet hourly throughout Prime and dedicated managers monitor the performance 24/7 on those two days.”

Amazon aggregator

Petcube likely isn’t the only merchant pleased with its Prime Day 2023 performance.

Amazon said the first day of this year’s Prime Day event was the biggest ever for third-party merchants on the marketplace.

For example, Thrasio Holdings Inc., an investment company that has purchased a number of Amazon merchants, said some of its brands had their best days ever during the event.

“These were the two most profitable days in Thrasio history,” Thrasio CEO Greg Greeley said in a written statement.

Thrasio’s latest acquisition — a seller of insect-repellent spray called Ranger Ready Repellents — had a record-breaking day on Amazon and tripled its Prime Day 2022 sales.

Amazon’s Prime Day event is limited to members of its paid Prime loyalty program. Benefits of the program include free one-day shipping for a variety of items.

2023 Global Online Marketplaces Report

Analysis of the 100 leading global online marketplaces. Includes over 30 charts, rankings of the world’s Top 100 online marketplaces by 2022 third-party GMV, tips for marketplace sellers, and findings from a new consumer survey. 

View Details

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