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Retailers in the Top 1000 reported ecommerce earnings results, citing changing consumer demand and continued spending pullback.

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. Retailers across gaming and healthcare reported challenges due to changing consumer preferences. 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 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.

Chewy Inc. (No. 12)

Chewy, Inc. reported that net sales grew in its Q4 and fiscal 2023 ended Jan. 28, 2024, even as pet adoptions declined.


Read more on Chewy earnings here.

Costco Wholesale Corp. (No. 6)

Costco said net sales grew 5.7% to $57.33 billion in its second fiscal quarter of 2024 ended Feb. 18. Ecommerce comparable sales grew 18.4% in the same period.

Read more on Costco ecommerce sales here.

GameStop Corp. (No. 35)

GameStop reported that net sales declined to $1.80 billion in its fiscal fourth quarter ended Feb. 3. That was a decline from $2.23 billion in the year-ago period. However, net income increased to $63.1 million from $48.2 million in 2022. Net sales for the full year fell 11% to $5.27 billion. The retailer said it would cut an undisclosed number of jobs to reduce costs as the gaming industry shifts to digital media from physical media.


H&M (No. 13 in the Europe database)

H&M reported that net sales declined 2% to 52.7 billion Swedish kronor in the first quarter ended Feb. 29. Meanwhile, operating profit rose to 2.08 billion kronor, surpassing analyst expectations. Increasing sales will be the top priority going forward, CEO Daniel Ervér told investors. The Sweden-based retailer said about 30% of sales in the quarter were online.

Home Depot (No. 4)

Home Depot reported that online sales increased about 2% year over year in its fiscal fourth quarter ended Jan. 28. Meanwhile, total Q4 sales decreased 2.9% year over year to $34.8 billion.

Read more about Home Depot’s earnings here.

Target Corp. (No. 5)

Target revenue grew 1.7% to $31.92 billion in its fiscal fourth quarter ended Feb. 3. Online sales declined 0.7%.


Read more on Target’s earnings here.

Walgreens Boots Alliance, Inc. (No. 15)

Walgreens reported that sales increased 6.3% to $37.1 billion in its second quarter of fiscal 2024 ended Feb. 29. The retailer recorded a net loss of $5.9 billion, compared to net income of $703 million in the year-ago period. U.S. pharmacy sales increased 8.2% due to “benefiting from higher branded drug inflation and strong execution in pharmacy services,” Walgreens said. Meanwhile, U.S. retail sales declined 4.5% because of “a challenging retail environment, channel shift, and a weaker respiratory season,” the retailer added.

Walmart (No. 2)

Walmart said U.S. online sales grew 17% for its fiscal 2024 fourth quarter ended Jan. 31. Its global ecommerce sales grew 23% over the same period, while international ecommerce increased 44%. 

Read more about Walmart’s earnings here.


So what does it mean?

  • GameStop has had a tumultuous few years. The latest news of declining sales and layoffs show the market has little confidence in its ability to turn things around, as stock price declined 17% following the release.
  • Walgreens grew its pharmacy business while retail sales declined, indicating consumers might be making fewer discretionary purchases during stops into the store.

Ecommerce earnings calendar

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

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