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.

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.

Crocs Inc. (No. 104)

Crocs reported that revenue grew 1.6% to $960 million in its fiscal fourth quarter ended Dec. 31. Direct-to-consumer sales, including ecommerce, grew 6.8%, while wholesale declined 4.6%. Revenue grew 11.5% to $3.96 billion for the full year. 

CEO Andrew Rees says he expects personalization to be a major trend Crocs can capitalize on going forward. He pointed to Jibbitz sales, which grew 17% in 2023 to $250 million in sales.

Hanesbrands Inc. (No. 277)

Hanes reported net sales declined 12% to $1.3 billion in its fiscal fourth quarter ended Dec. 30. Activewear sales declined 24% in the quarter. For the full year, sales declined 9.6% to $5.6 billion.

“Our fourth-quarter performance did not meet our expectations as the sales environment proved to be more challenging than expected,” CEO Steve Bratspies said in a statement. 

Hasbro Inc. (No. 555)

Hasbro said revenue declined 23% to $1.2 billion in its fiscal fourth quarter ended Dec. 31. Revenue declined 15% for the year to $5.0 billion. In both periods, digital gaming grew but was offset by declines in consumer products and entertainment segments. Hasbro attributed some of the entertainment segment decline to lower film and TV revenue from strikes in the entertainment industry in 2023.

“The consumer remains value conscious and we anticipate entertainment will be less of a tailwind in the year ahead, behind a reduced box office slate,” CEO Chris Cocks said.

Shopify Inc.

Shopify revenue and gross merchandise volume (GMV) both increased in the ecommerce platform provider’s Q4, which ended Dec. 31, 2023. Its revenue and GMV both increased for the full fiscal year, too.

45 retailers in the Top 1000 use Shopify as an ecommerce platform. Read more about Shopify’s earnings.

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.

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.

Yeti Holdings Inc. (No. 135)

Yeti reported sales increased 16% to $519.8 million in its fiscal fourth quarter ended Dec. 30. DTC sales grew 11%, and wholesale increased 26%.

Full-year sales grew 4% to $1.66 billion. Sales through Amazon were strong, the retailer said, although it did not participate in Amazon’s October Prime sales event.

“The channel continues to prove effective in reaching both new and existing customers on the platform,” CEO Matt Reintjes said. Amazon makes up about 25% of DTC sales, Yeti said. However, higher fees and freight costs negatively impacted margins, the retailer said.

So what does it mean?

• Amazon has the power to make or break retailers that rely on online sales, as evidenced by Yeti. The retailer is feeling the pinch of higher fees, and it relies on the 25% of DTC sales that go through Amazon.
• The toy industry remains challenged. Hasbro fared worse than competitor Mattel, which forecasted further industry declines in 2024.

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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For the first time, this comprehensive Report predicts the growth of American-based online retailers, projected through 2025, and provides an in-depth analysis of category performance and expert commentary from our Research team.

It also offers an insider’s look at category performance and expert insights into two key segments: Apparel & Accessories and Sporting Goods.

Digital Commerce 360 breaks down how each category has performed and how it is expected to perform through 2025 based solely on activity for the Top 2000 companies headquartered in the U.S.

It also includes:

• an overview of the state of U.S. ecommerce and looks ahead to the growth expected in the next two years
• ecommerce traffic; shopper demographics; spending; future forecasting
• 15+ charts and graphs on the state of U.S. ecommerce

Here’s a peek at some of the data we’ve analyzed:

The post The Future of Ecommerce and a Deep Dive into Apparel and Sporting Goods appeared first on Digital Commerce 360.

Under Armour ecommerce represented 45% of total direct-to-consumer revenue in the quarter, the company announced Feb. 8. As a whole, Under Armour DTC sales increased 4% to $741 million. Part of that increase came from 5% growth of in-store revenue.

Meanwhile, Under Armour wholesale revenue decreased 13% to $712 million.

Total third-quarter Under Armour revenue decreased 6% to $1.5 billion, in line with the company’s outlook. Operating income was $70 million, and net income was $114 million. Meanwhile, Under Armour inventory decreased 9% to $1.1 billion.

Under Armour is No. 97 in the Top 1000. The Digital Commerce 360 database ranks North America’s leading online retailers by their web sales.

Under Armour ecommerce sales

President and CEO Stephanie Linnartz said in a call with investors that the retailer is working to improve mobile speed, search algorithms and product description pages, among other functionality fixes. She said the retailer’s ecommerce division has done “great work” to improve conversion and have a more functional website and Shop App.

“We need for ua.com and our Shop App to be the most premium expression of our company,” Linnartz said. “It’s our largest storefront when you think about it. So we are going to reduce our dependency on promotions.”

That could reduce the brand’s revenue, she added, saying it will drive profitability.

“Simply put, ua.com will become a showcase for our brand,” Linnartz said.

Under Armour revenue by region

In North America, Under Armour revenue declined 12% year over year to $915 million in Q3. Under Armour revenue in Europe, the Middle East and Africa (EMEA) grew 7% to $284 million. Asia-Pacific revenue grew as well, up 7% to $212 million. In Latin America, Under Armour revenue grew 9% to $70 million.

UA Rewards program continues to grow

Nearly 3 million members have enrolled in Under Armour’s loyalty program, UA Rewards, “which is well ahead of the target” for fiscal 2024, Linnartz said.

Members have purchased premium products more frequently than non-members program’s first few months, she said.

Under Armour earnings

For the fiscal third quarter ended Dec. 31, Under Armour reported:

• Under Armour revenue decreased 6% to $1.49 billion.
• Net income decreased to $114.1 million from $121.6 million in the year-ago quarter.
• Under Armour ecommerce revenue grew 2%. The retailer did not attach a dollar amount to the growth.

For the nine months ended Dec. 31, Under Armour reported:

• Revenue decreased to $4.37 billion from $4.50 billion in the year-ago period.
• Net income grew to $232.3 million from $216.2 million in the prior-year’s period.

Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports. Here’s last quarter’s Under Armour ecommerce update.

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Fanatics ranks No. 57 in the Top 1000. The Top 1000 database is Digital Commerce 360’s ranking of the largest North American online retailers by web sales.

Fanatics new appointees

The retailer appointed Stephen Dowling as president of the international segment. Dowling is tasked with growing the company outside of North America, based out of Fanatics’ Manchester, United Kingdom, office. Fanatics operates more than 80 offices, manufacturing facilities, and fulfillment centers around the world, with a recent push for international development, it said.

Dowling joined Fanatics from Adidas, where he had worked since 2017, according to his LinkedIn profile. Since 2021, Dowling served as senior vice president of digital growth at Adidas, overseeing a $5 billion direct-to-consumer ecommerce business. Previously, he worked as the global head of direct-to-consumer ecommerce at Unilever.

Adidas ranks No. 16 and Unilever ranks No. 68 in the Top 1000 Europe database.

The retailer also appointed Valerie Love as chief people officer. Love previously worked as senior vice president of human resources at The Coca-Cola Company and held HR positions at Johnson & Johnson (No. 371 in the Top 1000) and General Motors.

Justin Tsai will lead Fanatics Commerce in the newly created chief product officer role. Tsai was previously an operating executive at technology investment firm Silver Lake. Prior to that role, he spent nearly eight years in product management and growth at GoDaddy.

Fanatics Commerce CEO on the news

“I am thrilled to welcome Stephen, Valerie and Justin to Fanatics Commerce, all of whom will play an invaluable role as we work toward elevating the experience of being a fan across all corners of the world,” Fanatics Commerce CEO Andrew Low Ah Kee said in a statement. “All three are highly regarded executives who bring a wealth of knowledge, expertise, and energy to the Fanatics Commerce business that will help propel us into our next chapter.”

All three appointees will report to Low Ah Kee, who became CEO of Fanatics Commerce in September 2023. He joined from real estate ecommerce platform OpenDoor and previously worked at GoDaddy. Low Ah Kee replaced former Fanatics Commerce CEO David Mack, who retired in August.

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Peloton is No. 45 in the Top 1000. The Digital Commerce 360 database ranks North America’s leading online retailers by their web sales.

“Peloton and TikTok both move at the speed of culture to better serve our respective audiences,” Oli Snoddy, vice president of consumer marketing at Peloton, said in a press release. “We collectively recognize the way people engage with fitness is constantly changing. Our team is excited to complement TikTok’s already burgeoning fitness content by introducing the magic of Peloton to new audiences, and in completely new ways.” 

The videos will also include popular TikTok formats like “get ready with me” videos, CNBC reported. Those video types are among the most successful at influencing consumers to make a purchase, according to research from Morning Consult. Nearly one-third of Gen Z TikTok users say they’ve made a purchase based on “get ready with me” and “routine” videos.

The videos will be available in the U.S., U.K. and Canada.

TikTok enters ecommerce

The TikTok partnership is the first time Peloton has created custom content for a channel besides its own. In addition, it comes as TikTok is making a name for itself in ecommerce.

The social media company, owned by ByteDance, first launched TikTok Shop in the U.S. in September 2023 after nearly a year of testing. TikTok says it has about 150 million users in the U.S. who can make purchases inside the app while scrolling through videos. 

“Culture, communities and conversations live on TikTok, and this offers brands an opportunity to deeply connect with their audiences. When it comes to the fitness category, we have thousands of communities coming together to connect on everything from #TheFitnessJourney to bonding as #RunnersOfTikTok,” Sofia Hernandez, global head of business marketing at TikTok, said in a press release. “We’re thrilled that this partnership will bring inspirational fitness content and entertain Peloton users who come to TikTok to learn, connect with instructors, share fitness journeys, and find community.”

In 2024, TikTok aims to compete with Amazon for online shoppers. The company set a goal of $17.5 billion in U.S. ecommerce sales for the year, Bloomberg reported. In 2023, TikTok Shop attained about $20 billion in global merchandise value. The majority of sales came from Southeast Asia.

Peloton tackles a rebrand

Peloton announced a rebranding effort in May 2023 after pandemic success was followed by declining popularity and stock prices.

“We’re shifting perceptions from in-home to everywhere, fitness enthusiasts to people at all levels, exclusivity to inclusivity across all Peloton Members present and future,” chief marketing officer Leslie Berland said at the time.

The company promoted its tiered membership products, which can be purchased without owning the stationary bikes it is best known for. 

In its first fiscal quarter of 2024 ended Sept. 30, 2023, about 67% of revenue came from subscriptions, the company said. Peloton lost 30,000 members in the quarter, and revenue reached $595.5 million, down from a pandemic high of $757.9 million.

The fitness company also launched a collaboration with athletic apparel retailer Lululemon in September. Lululemon now makes Peloton-branded fitness apparel, sold online and in stores. Lululemon ranks No. 27 in the Top 1000.

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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.

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.

FedEx Corp. (Fulfillment vendor to 478 of the Top 1000)

FedEx Corp. reported increases in operating income for its Ground and Freight divisions and a decrease for the Express division in the carrier’s fiscal 2024 second quarter, ended Nov. 30, 2023. Total operating income increased 17% to $1.4 billion, while total FedEx revenue declined 3% in Q2 to $22.2 billion.

Read more about FedEx’s earnings here.

Nike Inc. (No. 9)

Nike Inc. reported both digital sales and total revenue grew in its second fiscal quarter of 2024 ended Nov. 30. Revenue grew 1% year over year to $13.4 billion, Nike said. Digital sales grew 4%.

Read more about Nike’s earnings here.

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 the fiscal year.

Read more about Target’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.

So what does it mean?

• FedEx reported declining package volume for the 10th consecutive quarter, but as the decreases grow smaller, that could be a sign of volume turning around in the near future.
• Nike echoed other apparel retailers this quarter with difficulty attracting consumers to its website and app, aside from shopping holidays like Black Friday and Singles Day.

Ecommerce earnings calendar

Here’s when other ecommerce earnings were reported 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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November retail sales excluding automobiles and gasoline grew 4.24% over November 2022, Retail Monitor data shows. Core retail sales, which also excludes restaurants, grew 4.17% in the same period. Both metrics demonstrated higher year-over-year growth than in October, showing that consumers are willing to spend for the holidays despite worries over inflation. 

“November Retail Monitor data shows that consumers are embracing the holiday season and promotions being offered by retailers,” the NRF President and CEO Matthew Shay said in a statement. “Value-conscious shoppers are out looking for deals as they purchase gifts for family and friends, and this data indicates that they’re finding them.”

The NRF predicted total holiday spending between November and December would grow 3%-4% year over year.

Online sales lead November

Online sales recorded the largest growth of any category measured by Retail Monitor, growing 26.27% year over year. Retail Monitor’s data comes from credit and debit card purchases from consumer data vendor Affinity Solutions. 

The U.S. Census Bureau also reported online sales growth outpacing total retail in November. Nonstore sales, which encompass online sales, grew 10.6% over 2022. That’s significantly higher than total retail sales, which grew 4.4% over the same period. 

November was a good month for online retailers. On Cyber Monday alone, U.S. consumers spent $12.4 billion online, according to Adobe Analytics. That’s an increase of 9.6% over the shopping day in 2022, surpassing Adobe’s prediction. 

Increases in online sales for the whole Cyber 5 period, from Thanksgiving through Cyber Monday, were more modest but still significant. Online sales over the key shopping days grew 7.8% year over year to $38.0 billion, per Adobe. They grew nearly twice as much as in 2022, when sales increased 4% over the previous year.

Other category results

Sales increased in seven of the nine categories tracked by Retail Monitor, although none saw the same levels of growth as online sales. 

Health and personal care sales grew 9.15% year over year, according to Retail Monitor, and 8.6% according to the Census Bureau. Sales of sporting goods, hobby items, music and books grew 8.25% in Retail Monitor’s Data, and just 0.3% based on Census Bureau findings. 

Apparel and accessories sales grew in both data sets, up 5.81% per Retail Monitor and 1.2% per the Census Bureau. Apparel was also the most popular online shopping category on Cyber Monday, with sales reaching 189% higher than an average day, according to Adobe.

Consumer electronics sales were less promising. Retail Monitor reports electronics and appliance sales grew just 0.1% year over year in November, while the Census Bureau reports that they declined 0.2%. Lackluster results are due to a relatively poor performance on Black Friday and Cyber Monday, according to consumer behavior research firm Circana.

“This year’s holiday tech consumers are more focused on the value of their purchase than just getting the lowest price,” says Paul Gagnon, consumer technology industry advisor for Circana. “Black Friday shoppers had a more leisurely shopping experience this year, with ample inventory to choose from as they took advantage of bargains on big-screen TVs, and opted for higher-priced computer purchases.” Electronic unit sales declined 3% year over year during Cyber Week, and dollar sales declined 4%, Circana found.

Retail Monitor recorded declining sales in building and garden supplies (down 0.06%) and furniture and home furnishings (down 2.08%). The Census Bureau also noted a decline of 5.5% annually in furnishings, likely a result of high mortgage rates and a sluggish real estate market.

The halfway point of the holiday sales season

November results give analysts and retailers an early look at how overall holiday sales might perform. 

“Since November makes up half the holiday season, these numbers are a positive indication of what we can expect for the full holiday season,” the NRF’s Shay says. 

Holiday sales so far are right on track with expectations, says Dipanjan Chatterjee, vice president and principal analyst at Forrester. Though consumers report low confidence and high anxiety about the state of the economy and their spending, other signs say things are looking up.

“Unemployment is low, pandemic-era savings haven’t entirely been drawn down, house values are high. This financial security continues to stimulate spending despite trepidations about an uncertain financial future,” Chatterjee told Digital Commerce 360.

Consumers are price resilient this year.

“The trick for retailers this holiday season is to sell without giving it away, knowing that the consumer is financially able to stretch,” Chatterjee says. “That is why we see retailers dialing back on sitewide sales and free shipping, and offering volume-based discounts to extract greater spending in return for a deal.”

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Shoppers are taking longer this year to decide what they want to purchase, according to Nosto. The company analyzed more than 112 million website visits between Black Friday and Cyber Monday, the period known as the Cyber 5. The visits were to 1,127 online stores that use Nosto’s platform, including merchants based in North America, the United Kingdom and other parts of Europe, Latin America and the Asia Pacific region.

Nosto consumer insights from online holiday shopping

Online shoppers viewed 22% more pages on retailers’ websites per visit during the Cyber 5 in 2023 than they did in 2022, according to Nosto. They also spent 10% longer on each page, the data showed.

Compared with the same period in 2022, online shoppers were more than five times as likely this year to click on retailers’ on-site product recommendations. They were 81% more likely to click on personalized content that retailers showed on their ecommerce sites, and 13% more likely to click through product recommendations retailers sent via email marketing.

“Shoppers are definitely putting more time and effort into their holiday shopping, meaning that the retailers who make it easier for them to find the right products are reaping the benefits,” said Jan Soerensen, general manager for North America at Nosto.

Nosto attributes a 4.41% year-over-year increase in sales to the longer browsing time. Similarly, it also attributed a 4.1% increase in average order value for the online retailers to the increased time.

Understanding traffic growth by category, channel

Nosto found that traffic grew year over year among the health and beauty, fashion and accessories, and sporting goods and hobbies categories. Although the highest year-over-year traffic increase was among fashion and accessories brands that Nosto tracks (26.38% growth), the health and beauty category had the largest increases among the three when it came to both sales and average order value (AOV) increases.

Health and beauty online retailers that Nosto tracks increased sales 14.52% as AOV grew 11.21%. Fashion and accessories retailers using the platform increased sales 4.56% as AOV rose 4.27% year over year. Sporting goods and hobbies retailers increased traffic 23.03%, lifting sales 12.85% year over year as AOV grew 7.84%

All the while, mobile commerce accounted for nearly three-quarters of all traffic (74%) to online retailers using the Nosto platform during the Cyber 5. Mobile ecommerce sales represented 62% of total sales among online retailers Nosto tracks.

“However, consumers are still using desktops for their highest-value purchases, with this channel seeing an AOV of $141.59 (USD) compared with $109.01 on mobile,” Nosto said in a press release.

This mobile-majority share of ecommerce sales during the Cyber 5 falls in line with data from Adobe Analytics. Adobe found that Thanksgiving “set a new bar” for mobile shopping. 59% of Thanksgiving online sales came from a smartphone, compared with 55% in 2022, according to Adobe. And mobile shopping carried on strong through the Cyber 5, with 51.8% of online sales coming from smartphones. That’s up from 49.9% during the 2022 Cyber 5 period.

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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

Do you rank in our database?

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

Sign up

Stay on top of the latest developments in the ecommerce industry. Sign up for a complimentary subscription to Digital Commerce 360 Retail News. Follow us on LinkedIn, Twitter and Facebook. Be the first to know when Digital Commerce 360 publishes news content.

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