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Retailers reported some year-over-year increases, though Nike was weighed down by an ecommerce sales drop in its quarterly earnings.

New earnings results are out from retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America, as well as the Europe ecommerce database. During the past week, H&M Group, Nike and Levi & Strauss each shared results. Their results show some gains in a competitive apparel environment as Nike continues to work on its turnaround plan. 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

  • Nike Inc. saw a 10% drop in ecommerce sales.
  • H&M Group reported a 3% rise year over year for its quarter as it refreshed its online store.

H&M Group (No. 14 in Europe database)

Q2 2024 earnings: H&M Group said net sales were up 3% to $5.6 billion (59.6 billion Swedish crowns) in its second fiscal quarter of 2024, which ended May 31. The apparel retailer also noted that 30% of its sales were online during the first half of its current fiscal year.

“During the spring, we have successfully tested an updated online store that we are launching in our larger markets during the autumn,” H&M CEO Daniel Ervér said in the earnings announcement. “The new digital experience will give our customers more inspiration, clearer recommendations on how our products can be styled and which fit is right for them.”

Nike Inc. (No. 8)

Q4 2024 earnings: Nike Inc. net sales dropped 2% to $12.6 billion in its fourth fiscal quarter of 2024, which ended May 31. During the same period, Nike Digital sales fell 10% year over year.


Read more on Nike’s earnings here.

Levi & Strauss Inc. (No. 162)

Q2 2024 earnings: Levi Strauss & Co. reported an increase in net sales of 8% to $$1.4 billion for its second fiscal quarter of 2024, which ended May 26. The apparel retailer also said ecommerce revenue was up 19% year over year on a reported and constant-currency basis for the quarter.

Read more on Levi’s earnings here.

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. 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%.

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 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.

“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%.”

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.

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:

  • Carvana Co.: July 17
  • Adidas AG: July 31
  • LVMH: July

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