New earnings results are out from retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America. Their results show where some retailers are growing online sales in a challenging environment. Abercrombie & Fitch Co., Best Buy and The Gap Inc. were among the latest to report. 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, unless otherwise stated.

This week’s ecommerce earnings takeaways

• In an ongoing turnaround plan, The Gap Inc. announced positive sales growth across all of its brands, validating Richard Dickson’s vision for course-correcting at the apparel retailer.
• Abercrombie & Fitch posted a 22% increase in net sales year over year, marking another milestone in an apparel brand turnaround story.

Abercrombie & Fitch Co. (No. 48)

Q1 2024 earnings: Abercrombie & Fitch reported net sales increased 22% to $1.02 billion during its first fiscal quarter of 2024 ended May 4, compared with the same period a year prior.

“We saw improved traffic trends across both stores and digital channels, which helped show teen customers the changes we have made to the assortment,” said Fran Horowitz, CEO at Abercrombie & Fitch, discussing its Hollister stores during a company earnings call. The company credited about 60% of Abercrombie brands’ sales to digital channels in 2023, with approximately 30% of its Hollister brand’s sales coming through digital channels.

American Eagle Outfitters Inc. (No. 40)

Q1 2024 earnings: American Eagle Outfitters recorded $1.14 billion in net sales for its first fiscal quarter of 2024 ended May 4, up 6% from a year prior. That percentage increase set a new first-quarter record for American Eagle. While in-store revenue rose 4% for the period, digital revenue grew 12%.

Best Buy (No. 8)

Q1 2025 earnings: Best Buy’s net sales of $13.41 billion were down 0.9% year over year in its first fiscal quarter of 2025 ended May 4. In the same period, online sales dropped 6.1%.

Read more on Best Buy’s earnings results here.

Costco Wholesale Corp. (No. 6)

Q3 2024 earnings: Costco net sales grew 9.1% to $57.39 billion in its third fiscal quarter of 2024 ended May 12. During the same period, ecommerce sales grew 20.7%.

Read more on Costco ecommerce sales here.

Dick’s Sporting Goods (No. 31)

Q1 2024 earnings: Dick’s Sporting Goods said net sales were up 6.22% year over year to $3.02 billion in its first fiscal quarter of 2024 ended May 4. The company raised its full-year guidance, noting that customers were spending more on apparel, athletic gear and sneakers.

Foot Locker (No. 59)

Q1 2024 earnings: Foot Locker reported net sales dropped 2.8% to $1.87 billion from a year earlier in its first fiscal quarter of 2024 ended May 4. The company is working on an ongoing turnaround plan, which CEO Mary Dillon said included “strengthening our brand partnerships, enhancing customer engagement through digital and loyalty investments.”

The Gap Inc. (No. 20)

Q1 2024 earnings: The Gap raised its guidance for the full year, announcing a 3.4% year-over-year increase in net sales of $3.4 billion for its first fiscal quarter ended on May 4. The quarter marked the first time during CEO Richard Dickson’s current campaign to turn the company around that its Athleta, Banana Republic, Gap and Old Navy brands all posted positive comparable sales increases. Dickson took over the chief executive role in August 2023.

Kohl’s Corp. (No. 23)

Q1 2024 earnings: Kohl’s net sales fell 5.3% to $3.18 billion for its first fiscal quarter ended on May 4. The retailer blamed weather and excess inventory as it posted a net loss of $27 million, surprising analysts.

Nordstrom Inc. (No. 22)

Q1 2024 earnings: Nordstrom net sales increased 5.1% year over year to $3.22 billion during the company’s first fiscal quarter of 2024 ended May 4. The retailer shrank its net loss to $39 million from $205 million a year earlier as digital sales fell 0.2% during the same period. Digital sales accounted for 34% of Nordstrom’s total sales for the quarter, the company reported. It opened nine new stores in the U.S. in the first quarter, with plans to open 18 more.

Salesforce

Q1 2025 earnings: Salesforce grew revenue 11% year over year to $9.13 billion in its first fiscal quarter of 2025 ended April 30. However, the company missed expectations, with revenue from its Professional Services and Other category down 9.4% in the quarter at $548 million.

Read more about Salesforce revenue here.

Ulta Beauty (No. 39)

Q1 2024 earnings: Ulta Beauty net sales rose 3.4% year over year to hit $2.73 billion in its first fiscal quarter of 2024 ended May 4. CEO Dave Kimbell said Ulta “successfully completed the final phase of our digital store transition” during the quarter “and are on track to decommission the legacy platform in the second quarter.” In addition, following the announcement of Ulta’s expanded partnership with DoorDash, Kimbell said Ulta plans to “introduce new digital buying guides that amplify search engine optimization while providing guests with educational content, beauty tips and product recommendations.”

Other recent ecommerce earnings results

Alibaba Group Holding Limited

Q4 2024: Alibaba said it grew revenue 7% year over year in its fiscal fourth quarter ended March 31, 2024. Meanwhile, net income decreased 96% compared to the prior Q4.

Alibaba owns the world’s two largest online marketplaces by gross merchandise value (GMV), Taobao and Tmall. Taobao ranks No. 1 in the Global Online Marketplaces Database, Digital Commerce 360’s ranking of the largest such marketplaces by third-party GMV. Tmall ranks No. 2. Both operate in China.

Read more on Alibaba’s earnings here.

Amazon.com Inc. (No. 1)

Q1 2024 earnings: Amazon net sales increased 13% to $143.3 billion in its fiscal first quarter, and its operating income more than tripled.

It ranks No. 1 in the Top 1000, Digital Commerce 360’s ranking of the largest North American online retailers. Amazon is also No. 3 in Digital Commerce 360’s Global Online Marketplaces Database, which ranks the 100 largest such marketplaces by third-party gross merchandise value (GMV).

Read more on Amazon’s earnings results here.

AutoZone Inc. (No. 283)

Q3 2024: AutoZone reported net sales increased 1.9% to $4.2 billion in its fiscal third quarter ended May 4. Sales were negatively impacted by cool and wet weather in the Northeast and Midwest, as well as slow tax refund rollouts, the retailer said. Both factors led to a year-over-year decline in do-it-yourself sales, AutoZone noted. However, the retailer expects those trends to moderate in Q4.

BJ’s Wholesale Club Holdings Inc. (No. 44)

Q1 2024: BJ’s said total revenue increased 4.1% to $4.92 billion in the first quarter ended May 4. Comparable store sales increased 1.6% due to strong traffic and unit growth. Meanwhile, digital sales increased 21% year over year, BJ’s said, and 40% on a two-year basis. Digital sales growth was in the double digits every quarter of the past two years.

About 90% of online sales are fulfilled by stores through buy-online-pickup-in-store and same-day delivery, the retailer said.

E.l.f. Beauty (No. 681)

Q4 2024: E.l.f net sales increased 71% to $321.1 million in its fiscal fourth quarter ended March 31. That was about $30 million higher than the $292.6 million expected by analysts. The sales growth was driven by strength in both retail and online sales, e.l.f. said. 

Read more on e.l.f.’s earnings here.

Lowe’s Cos. Inc. (No. 11)

Q1 2024: Lowe’s Cos. Inc. reported that online sales grew about 1% in the first quarter of fiscal 2024 ended May 3. Meanwhile, Lowe’s total sales declined 4.0% to $21.4 billion, and comparable sales fell 4.1%.

Read more on Lowe’s earnings results here.

Macy’s Inc. (No. 14)

Q1 2024: In its fiscal first quarter ended May 4, Macy’s net sales declined 2.7% to $4.8 billion from Q1 in 2023. Meanwhile, comparable sales — including online sales — declined 1.2%. Those sales declines came after the retailer announced plans to close 150 stores and invest in a new strategy to turn negative trends around.

Read more on Macy’s earnings here.

Petco Health and Wellness Co, Inc. (No. 86)

Q1 2024: Petco reported that net revenue declined 1.7% to $1.5 billion in its fiscal first quarter ended May 4. It also had a net loss of $45 million, compared to a $1.9 million net loss in the year-ago period.

Consumable product sales were flat while discretionary supplies declined 7%, the retailer said. Services, however, grew 10% due to strength in mobile clinics and grooming, the retailer said.

The Home Depot Inc. (No. 4)

Q1 2024: Home Depot reported that sales declined 2.3% in its fiscal first quarter of 2024 ended April 28 due to challenges in the broader economy. B2B and Pro sales were equally impacted, while online sales grew.

Target Corp. (No. 5)

Q 1 2024: Target reported that total revenue declined 3.1% to $24.5 billion in the first quarter of its fiscal 2024 ended May 4. However, online sales did increase slightly. Declines in discretionary categories were partially offset by continuing growth in the beauty category.

Read more on Target’s earnings results here.

The TJX Companies, Inc. (No. 66)

Q1 2025: TJX reported that net sales increased 6% to $12.48 billion in its first quarter of fiscal 2025 ended May 4. The retailer operates the TJ Maxx, Marshalls, Sierra and Home Goods chains.

TJX said that low-price online retailers Temu and Shein are not a threat.

“We see very little issue with them taking market share from us,” CEO Ernie Hermann told investors. “I could see that their business model could overlap with some other brick-and-mortar guys or some other online guys for sure. But we just don’t see that as bumping up with our customer base or end use.”

Shoe Carnival Inc. (No. 575)

Q1 2024: Shoe Carnival reported that net sales increased 6.8% to $300.4 million in its fiscal first quarter of 2024 ended May 4. 

“We are encouraged by the strong results delivered this quarter, with net sales growth above our expectation, gross profit margin expansion versus prior year, and earnings at the high end of our expectation,” CEO Mark Worden said in a statement. “We gained significant market share, with accelerating sales momentum across our business as the quarter progressed, including double-digit growth in sandals that continued in the quarter after the Easter holiday period.”

Shoe Carnival acquired Rogan’s Shoes in February for $45 million.

Urban Outfitters Inc. (No. 28)

Q1 2025: Urban Outfitters net sales increased 7.8% to a record $1.20 billion in the first quarter ended April 30. Online sales grew in the high single digits, the retailer said.

Urban Outfitters is also rethinking its marketing strategy with a greater focus on social media. So far, it’s working.

“The brand is encouraged that some of their recent adjustments to distribution channels, content, and community conversations have resulted in growth in new and total customers on the digital channel for the first time in quite some time,” chief operating officer Frank Conforti told analysts.

Read more on Home Depot’s earnings here.

Walmart Inc. (No. 2)

Q1 2025: Walmart grew U.S. online sales 22% for its fiscal 2025 first quarter ended April 30, 2024. Consolidated revenue grew 6.0% to $161.5 billion in Q1.

Read more on Walmart’s earnings here.

Williams-Sonoma Inc. (No. 19)

Q1 2024: Williams-Sonoma said revenue declined 4.9% to $1.66 billion in its fiscal first quarter ended April 28. Of the retailer’s brands, Pottery Barn sales declined the most, down 10.8%. West Elm also declined 4.8%. However, Williams Sonoma and Pottery Barn Kids and Teen grew 0.9% and 2.8%, respectively.

Williams-Sonoma shared plans to invest in its ecommerce experience with a focus on AI and first-party data collection. Those investments will improve product discovery, personalization, last-mile delivery and more, the retailer said.

Ecommerce earnings calendar

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

• Bark Inc.: June 3
• Lululemon Athletica Inc.: June 5
• Big Lots Inc.: June 6
• Bath & Body Works Inc.: June 11
• Lovesac Co.: June 13

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