New ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 1000 Database. The week saw year-over-year declines for the most recent quarters at both Lulu’s Fashion Lounge and Tapestry. Updates also arrived from two of North America’s top-ranked online retailers, Home Depot and Walmart. Despite its 13.3% revenue decline, Lulu’s sounded optimistic about digital investments. Meanwhile, Tapestry’s latest full-year results showed some growth, even as net sales dropped 1.8% year over year during Q4. Read more ecommerce earnings coverage here.

Parentheses indicate the merchant’s ranking in the Top 1000, unless otherwise stated. The database ranks North America’s largest ecommerce retailers by their annual web sales.

This week’s ecommerce earnings takeaways

• Lulu’s Fashion Lounge shared that net revenue fell 13.3% year over year during its fiscal second quarter.
• Tapestry, Inc.’s net sales decreased 1.8% year over year in its fiscal fourth quarter while its full fiscal year concluded with a year-over-year increase of 0.1%.

Alibaba Group Holding Limited

Q1 2025: Alibaba reported a 4% revenue increase year over year to $33.5 billion in its fiscal first quarter ended June 30, 2024. During the same period, net income dropped 27% to $3.31 billion.

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.

The Home Depot Inc. (No. 4)

Q2 2024: Home Depot said its total sales grew 0.6% year over year to $43.2 billion in its second quarter of 2024 ended June 28. Meanwhile, online sales were up 4% compared with the same quarter a year ago.

Read more on Home Depot’s earnings here.

Lulu’s Fashion Lounge Holdings, Inc. (No. 238)

Q2 2024: Lulu’s Fashion Lounge recorded that its net revenue fell 13.3% year over year to $92.0 million during its fiscal second quarter that ended June 30.

“Our second-quarter results were in line with the expectations laid out in our preliminary results, reflecting persisting headwinds that carried through the first half of the year from lower sales comps driven by lower markdown sales due to less markdown inventory, overall higher return rates resulting from a slower transition to our new return policy, and softer sales within our casual business,” said Crystal Landsem, CEO of Lulu’s Fashion Lounge.

During the company’s earnings call, Mark Vos, its president and chief information officer, noted that ecommerce earnings will be a priority. He cited “increasing usage of the Lulu’s app and its growing share of overall revenue” and “a healthy growth in app users and improved conversion rates” in Q2 as signs of improvement.

“Additionally, our investment in driving more paid traffic towards Lulu’s app is yielding strong returns,” Vos said. “The website redesign featuring larger and more prominent product images and expanded video use has led to the increased engagement on our website, higher conversion rates and an increase in account registrations.”

Tapestry, Inc. (No. 44)

Q4 2024: Tapestry, Inc., which owns Coach, Kate Spade, and Stuart Weitzman, reported that its net sales decreased 1.8% year over year to $1.6 billion in its fourth quarter of 2024 ended June 29. Net sales for its full fiscal year, however, were up 0.1% to $6.7 billion. The company said ecommerce sales accounted for “nearly 30% of sales in the fiscal year” in its earnings release.

“Importantly, through an unwavering focus on powering innovation and consumer connections, we meaningfully advanced our strategic agenda in fiscal year 2024, delivering strong financial results against a dynamic backdrop,” said Joanne Crevoiserat, chief executive officer at Tapestry, Inc. “From this position of strength, we have a bold vision for the future and a steadfast commitment to drive growth and shareholder value for years to come.”

In North America, the company saw a 1% decline in sales for its full fiscal year, though it pointed to a higher operating margin and profit than the year prior.

Walmart Inc. (No. 2)

Q2 2025: Walmart recorded a 4.8% increase in consolidated revenue year over year, bringing in $169.34 billion for its fiscal second quarter of 2025 ended July 31.

Read more on Walmart’s earnings here.

Other recent ecommerce earnings results

Allbirds, Inc. (No. 398)

Q2 2024 earnings: Allbirds, Inc. said net revenue decreased 26.8% year over year to $51.6 million in its second fiscal quarter that ended June 30. The footwear and apparel brand, which elevated former chief operating officer Joe Vernachio to CEO after its previous quarter’s results, highlights some areas of improvement, despite continuing headwinds.

“As we focus on reigniting our product and brand, we are encouraged by the strong consumer response to our recent new offerings,” Vernachio said. “This makes us confident that our fresh, updated products coming to market beginning next year will build on that momentum.”

Amazon.com Inc. (No. 1)

Q2 2024 earnings: Amazon net sales increased 10% year over year to $148.0 billion during its second fiscal quarter, which ended June 30.

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.

CVS Health Corporation (No. 98)

Q2 2024 earnings: CVS Health Corporation lowered its full-year guidance after reporting a 2.6% increase in total revenue to $91.2 billion for its second fiscal quarter that ended June 30. The revised guidance came in response to what CVS described as continued pressure on its Health Care Benefits segment.

“Our integrated model and our strategy are enabling us to execute in a challenging environment, and we are delivering the value our customers demand,” said Karen S. Lynch, the president and CEO of CVC Health. “We are taking action today to ensure we make the most of our many opportunities, including leadership changes in the Health Care Benefits segment.”

Hims & Hers (No. 98)

Q2 2024 earnings: Him & Hers Health, Inc. recorded a 51.8% increase in total revenue to $315.6 million in its second fiscal quarter ended June 30. Most of that revenue was online, where ecommerce sales of $306.8 million were up 52.5%. In addition, the company’s net income reached $13.3 million for the period. It saw a net loss of $7.2 million a year earlier.

“During the quarter, subscribers on our platform approached 1.9 million, increasing 43% year over year,” said Andrew Dudum, co-founder and CEO of Hims & Hers.

Office Depot (No. 21)

Q2 2024 earnings: The ODP Corporation, which is the parent company of Office Depot, reported a year-over-year decline of 12% in Office Deport’s net sales, which totaled $799 million during its second fiscal quarter that ended June 29. ODP Corporation CEO Gerry Smith called the quarter’s results “unacceptable.”

Read more on Office Depot’s earnings results here.

Purple (No. 308)

Q2 2024 earnings: Purple Innovation, Inc. said its net sales increased 2% year over year to $120.3 million in its second fiscal quarter that ended June 30. The mattress brand also reported a reduced operating loss of $14.5 million compared with $40.3 million a year prior.

“Even as industry trends further deteriorated and impacted demand, we exceeded our adjusted EBITDA plan thanks to a number of operational improvements and cost-saving programs that drove a significant increase in gross margins on both a year-over-year and sequential basis,” said Purple CEO Rob DeMartini in the company’s earnings announcement. “As we look forward, we remain on track for a return to profitability in the second half of the year and are confident that our Path to Premium Sleep strategy will continue to gain traction in the marketplace, allowing us to take share and deliver value to our shareholders.”

Qurate Retail, Inc. (No. 18)

Q2 2024 earnings: Qurate Retail, Inc. recorded a year-over-year decrease in net sales of 9% to $2.4 billion in its second fiscal quarter that ended June 30. That increase was 5% when excluding revenue the previous year from Zulily, which Qurate divested from in May 2023. (Zulily later shut down the following December before being acquired by Beyond in March.)

David Rawlinson, president and CEO of Qurate Retail, said the company was operating in a “challenged macro environment.” Still, he touted expanded margins and a reduction in debt.

“We remain focused on enhancing our merchandise assortment, improving product margins and diligently managing costs,” he said. “We are also excited about the opportunity in better serving our core customer of women over 50 as part of the QVC Age of Possibility campaign we launched in April.

Revolve Group, Inc. (No. 87)

Q2 2024 earnings: Revolve Group, Inc. reported a 3% increase in net sales of $282.5 million for its second fiscal quarter ended June 30. The company said it had 2,577,000 active customers at the end of June, up 5% from a year earlier.

Revolve co-founder and co-CEO Michael Mente praised his team’s work. The company’s other co-CEO, Mike Karanikolas, highlighted the online apparel retailer’s “first year-over-year decrease in our return rate in more than three years.”

“Beyond the numbers, we continue to make great progress on longer-term initiatives that we believe further reinforce our foundation for profitable growth in the years to come, including growing our active customer base, expanding our international presence, increasing our share of wallet through adjacent product categories, leveraging AI technology to even further elevate the customer experience, and exploring physical retail as a new way to connect with the next-generation consumer,” Mente said.

Shopify, Inc.

Q2 2024 earnings: Shopify, Inc. reported that it grew gross merchandise volume (GMV) 22% year over year to $67.2 billion in its second fiscal quarter ended June 30. During the same period, revenue also increased 21% to $2 billion.

Read more on Shopify’s earnings results here.

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.

Under Armour, Inc. (No. 99)

Q1 2025 earnings: Under Armour, Inc. said its revenue fell 10% year over year to $1.2 billion in its first fiscal quarter of 2025 that ended June 30. The sportswear apparel brand saw gains in Latin America, where sales increased 16% from a year earlier. However, revenue in North America was down 14% to $709 million. Internationally, Under Armour revenue decreased 2% to $473 million in Q2.

“With the strongest product organization we’ve had in many years and strengthened brand leadership, we’re confident in our ability to elevate our design and innovation over the coming seasons and amplify our unique connection with athletes as their brand of choice,” said Kevin Plank, the president and CEO of Under Armour, who returned to the chief executive’s seat in April.

The Walt Disney Company (No. 92)

Q3 2024 earnings: The Walt Disney Company reported a net sales increase of 4% year over year to $23.2 billion in its third fiscal quarter that ended June 29. Disney CEO Bob Iger pointed to successes across Disney’s “creative studios, streaming, sports, and Experiences businesses” in discussing the results.

“This was a strong quarter for Disney, driven by excellent results in our Entertainment segment both at the box office and in DTC, as we achieved profitability across our combined DTC streaming businesses for the first time and a quarter ahead of our previous guidance,” Iger said in Disney’s earnings report.

Warby Parker, Inc. (No. 354)

Q3 2024 earnings: Warby Parker, Inc. said net sales increased 13.3% year over year to $22.1 million during its second fiscal quarter that ended June 30. The company opened 11 net new stores in Q2, bringing its physical presence to 256 stores in total.

“We’re proud of the progress we’re making on our core strategic initiatives to accelerate growth,” said Dave Gilboa, Warby Parker’s co-founder and co-CEO, in a released statement. “In Q2, we drove our fourth consecutive quarter of active customer growth and our highest ecommerce growth since Q1‘21.”

Ecommerce earnings calendar

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

• Lowe’s: Aug. 20
• Target: Aug. 21
• Macy’s: Aug. 21
• TJX: Aug. 21

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