Apparel, sports, and jewelry retailers in Digital Commerce 360’s Top 1000 list of ecommerce retailers in North America reported quarterly earnings this week. These are the highlights you need to know. Read more earnings coverage here.
Academy Sports and Outdoors (No. 136)
Net sales were down 7.3% year over year for the first quarter to $1.38 billion. The decline was due to fewer transactions and smaller ticket size, president Michael Mullican told investors. The retailer did not disclose sales data for ecommerce.
Academy Sports and Outdoors plans to open 120 to 140 stores in the next five years, with the goal of using them to grow omnichannel sales and use them as distribution centers, Mullican said.
Chico’s FAS Inc. (No. 108)
Ecommerce sales were “up low single digits and outpaced stores on very strong traffic,” at Chico’s for the first quarter, chief financial officer PJ Guido told investors.
Online sales made up just under half, 41% of revenue over the last 12 months, Guido said.
Designer Brands (No. 78)
Net sales for the shoe retailer declined 10.7% to $742.1 million. Designer Brands did not share specific information about ecommerce sales in the quarter. The retailer is on track for its goal of doubling owned brands between 2021 and 2026, with the recent addition of Keds.
Five Below Inc. (No. 584)
Five Below grew sales 14% to $726 million in the first quarter, the retailer reported. The company didn’t share specific ecommerce sales, but Five Below’s social media presence is growing and driving traffic, CEO Joel Anderson told investors. Recent influencer campaigns also drove engagement, he said.
Joann Inc. (No. 307)
Ecommerce sales at Joann declined 1% year over year for the first fiscal quarter. Net sales and comparable sales both declined more quickly, down 4% over the previous year. Online sales made up 11.8% of revenue in the quarter. Sewing and craft online sales grew during the period, while craft technology sales declined, the retailer said.
App downloads have also grown to 15 million, the retailer said, and BOPIS has been especially popular with customers. Joann didn’t disclose what percentage of sales were made through the app.
Kirkland’s Inc. (No. 510)
Ecommerce sales represented 27% of total sales in Q1, down from 28% in Q1 of the previous year, Kirkland’s reported. Total sales across stores and online were down about 4%, driven by lower traffic in stores and online. Stores performed slightly better than online channels, Kirkland’s told investors.
Rent the Runway Inc. (No. 258)
Apparel rental company Rent the Runway reported Q1 revenue grew 10% year over year to $74.2 million. The retailer reached 145,220 active subscribers, a 15% increase over Q4.
Rent the Runway is also implementing new AI technology in search in 2023, the retailer announced.
Roots Canada LTD (No. 668)
Sales were $41.5 million in Q1, down from $43.1 million in Q1 2022. Net loss was also more than in 2022, at $8 million compared with $5.3 million last year. The first quarter typically represents just 15% of annual sales, the retailer said.
A few categories were bright spots for Roots in the quarter. Apparel categories were particularly strong, with dress and skirt sales up “five fold.” Activewear grew 50% year over year, and represented 10% of sales in the quarter.
Signet Jewelers Ltd. (No. 61)
Signet Jewelers reported ecommerce sales made up 23% of total sales in the first quarter. Ecommerce revenue is up 70% over 2020, the jewelry retailer said.
Total sales were down 9.3% year over year to $1.7 billion. Part of the declining sales are due to a drop in engagements from the COVID pandemic disrupting dating in 2020, CEO Gina Drosos told investors.
Torrid LLC (No. 224)
Online sales made up more than half of total revenue in Q1, Torrid said. Net sales decreased 11.8% year over year to $293.9. Traffic was “volatile and challenging,” both in stores and online, CEO Lisa Harper told investors.
“Once our customer finds us, she extends her shopping with us through our online capabilities, resulting in a strong omnichannel,” Harper said.
Vince LLC (No. 855)
Net sales decreased 18.3% year over year to $64.1 million in Q1, Vince reported. The decline was driven by a 6.3% decrease in Vince brand products, and a 99.2% decrease in Rebecca Taylor sales as Vince winds down the brand. The retailer didn’t share ecommerce sales figures, but CEO Jack Schwefel said stores outperformed ecommerce sales, in line with broader industry trends.
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