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Challenges in online furniture and apparel sales were both visible in this week's ecommerce earnings results.

New earnings results are out from retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America. Among them, Kroger, La-Z-Boy and Reitmans (Canada) shared results. Their totals illustrated opportunities in online grocery sales while highlighting ecommerce challenges in furniture and apparel. Here’s the ecommerce earnings summary you need to know for 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

  • La-Z-Boy reported a 1.4% decrease year over year in net sales for its most recent quarter, as its CEO said the furniture industry broadly faces continuing challenges.
  • Apparel retailer Reitmans (Canada) Ltd. saw sales rise 3.4% at its stores during its first fiscal quarter of 2025, even as online sales dropped 9.2% from the same quarter a year earlier.

The Kroger Co. (No. 6)

Q1 2024 earnings: The Kroger Co. reported that net sales were flat year over year reaching $45.3 billion for its first fiscal quarter of 2024, which ended May 25. Meanwhile, digital sales were up 8% year over year during the quarter, said Todd Foley, interim chief financial officer at Kroger, during the grocer’s earnings call.

Read more on Kroger’s earnings here.

La-Z-Boy Inc. (No. 254)

Q4 2024 earnings: La-Z-Boy net sales decreased 1.4% year over year to $553.5 million for its fourth fiscal quarter of 2024, which ended April 27. The company frames its total written sales — down 3% year over year in the quarter for La-Z-Boy Furniture Galleries stores — as outperforming the overall furniture industry, which it said were down 8% for the same period. The company also noted challenges in online sales when discussing its Joybird brand.

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“Turning to Joybird, written sales declined 14% in the quarter versus a year ago as the online furniture market continues to be challenged, consistent with the broader furniture industry,” said Melinda Whittington, the president and CEO of La-Z-Boy, during the company’s earnings call for the period.

Reitmans (Canada) Ltd. (No. 454)

Q1 2025 earnings: Reitmans net sales were flat year over year at 165.7 million Canadian dollars ($121.3 million) for its first fiscal quarter of 2025, which ended May 5. Ecommerce sales were down 9.2% year over year in the quarter for the apparel retailer, which saw in-store sales rise 3.4% during the same earnings period.

“Comparable sales, which include ecommerce net revenues, were down 4.6%, primarily due to decreased online traffic,” said Richard Wait, executive vice president, chief financial officer at Reitmans, during the quarter’s earnings call. “Sales of product through RCL Marketplace, which launched a little over a year ago, did not contribute significantly to the top line as we continued to develop partnerships and curate offerings. Retail store activity accounted for 75.4% of net revenues in Q1, while ecommerce made up the remaining 24.6%.”

Other recent ecommerce earnings results

Academy Sports + Outdoors (No. 144)

Q1 2024 earnings: Academy Sports + Outdoors net sales fell 1.4% to $1.36 billion in its first fiscal quarter of 2024 ended May 4. Steve Lawrence, the chief executive officer at Academy Sports + Outdoors said “customers remain under pressure in the current economic environment” but said the sporting goods retailers was “pleased that we drove a positive comp in our new stores and omnichannel business.”

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Read more on Academy Sports + Outdoors earnings results here.

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.

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Amazon.com Inc. (No. 1)

Q1 2024 earnings: Amazon net sales increased 13% to $143.3 billion in its fiscal first quarter. Meanwhile, 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.

Costco Wholesale Corp. (No. 7)

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%.

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Read more on Costco ecommerce sales here.

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.

The Lovesac Company (No. 389)

Q1 2025 earnings: Lovesac reported that net sales decreased 6.1% year over year to $132.6 million for its first fiscal quarter of 2025, which ended May 5. For the same period, online sales fell 9.0% to $36.6 million.

Lovesac CEO and founder Shawn Nelson called the quarter’s results “in line to slightly above the high end of our expectations” and characterized them as “continued outperformance compared to the industry.”

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In the meantime, he expressed optimism about the furniture retailer’s omnichannel efforts and upcoming product launches.

“We believe through our omni-channel infinity flywheel, designed for life platform and advantaged supply chain, we are well positioned to continue to deliver results and capitalize on the tremendous opportunity still ahead,” Nelson said in a release statement. “With the recent launch of our PillowSac Accent Chair, we are continuing to expand our offering and see opportunity to further widen the aperture with exciting innovative launches yet to come.”

Signet Jewelers Ltd. (No. 55)

Q1 2025 earnings: Signet Jewelers net sales fell 9.4% to $157.2 billion in its first fiscal quarter of 2025 ended May 4. Signet CEO Virginia Drosos cited positive customer responses to the jewelry retailer’s “new product offerings and loyalty program,” saying the company expects “continued momentum in the second quarter, leading to a positive same-store sales inflection in the second half of Fiscal 25.”

Target Corp. (No. 5)

Q 1 2024: Target reported that total revenue declined 3.1%. That’s down 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.

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Read more on Target’s earnings results 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.

Ecommerce earnings calendar

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

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  • Levi Strauss & Co.: June 26
  • H&M: June 27
  • Nike: June 27

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