Earnings season is almost upon us once again, and a few retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America have already started reporting. Here’s the earnings recap you need to know from this week. Read more earnings coverage here.
Aritzia Inc. (No. 209)
Aritzia reported new revenue grew 13% year over year to $463 million in its first fiscal quarter of 2024. The largest area of growth for the Canadian company was in the U.S., where revenue grew 22% year over year on top of an 81% increase last year, the retailer said.
Aritzia has a “long runway of growth” in the U.S., CEO Jennifer Wong told investors in a Q4 earnings call.
Active customer base has doubled, and conversion is also up, the retailer said, without adding more.
Net revenue for ecommerce grew 12.5% in the period to $135.1 million. Online orders made up 29.2% of net revenue in the first quarter.
Gross profit was $180 million in the quarter, down slightly from $181 million in Q1 of fiscal 2023.
Levi Strauss & Co. (No. 187)
Levi’s reported revenue was down 9% year over year to $1.3 billion in its fiscal second quarter.
Ecommerce net revenue grew 20% over the period, the denim company reported. The growth was due to higher traffic and conversion rates, per CEO Chip Bergh.
The retailer just completed a digital fulfillment center for East Coast orders in Kentucky, with plans to begin shipping from it by the end of July.
“Overall, our digital and ecommerce businesses remain under-penetrated versus peers, and the channel represents a tremendous sales and profit opportunity for the company,” Bergh said.
Nike Inc. (No. 9)
Nike grew fourth-quarter revenue 5%, to $12.83 billion. Online sales grew 14% in the quarter, and 24% in the year. Nike ecommerce sales made up just over one-fourth of sales in fiscal 2023 (26%).
Rite Aid (No. 123)
Revenue was $5.7 billion in the first quarter of 2024, down from $6 billion in the year ago period. Net loss was $306.7 million during the period, up from $110.2 million in fiscal 2023.
Retail pharmacy revenue grew 3.4%, and same-store sales were up 8.4%.
Rite Aid did not share any specific information about ecommerce sales.
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