More retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America reported ecommerce earnings results for the most recent fiscal quarter. Although ecommerce sales results vary widely, retailers made it clear that online sales are a priority, with investments in fulfillment and customer experience. Here’s the ecommerce earnings summary you need to know from this quarter. Read more ecommerce earnings coverage here.

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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