New ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 1000 Database. In apparel, some of the industry’s biggest brands, including Gap and Abercrombie & Fitch, saw sales increase. In addition, results from Lululemon helped the company to make the case that turnaround efforts are showing progress. 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

• Online sales rose 7% year over year for Gap, outpacing net sales growth overall, which stood at 5%.
• Abercrombie & Fitch net sales grew 23% in the Americas year over year, leading to $1.1 billion in sales globally for its most recent quarter.

Abercrombie & Fitch, Inc. (No. 44)

Q2 2024: Abercrombie & Fitch, Inc. reported that net sales increased 21% year over year, totaling $1.1 billion in its fiscal second quarter that ended Aug. 3. Net sales in the Americas led for the quarter, up 23% during the same period.

“Although we continue to operate in an increasingly uncertain environment, we remain steadfast in executing our global playbook and maintaining discipline over inventory and expenses,” said Fran Horowitz, CEO at Abercrombie & Fitch. “We are on track and confident in our goal to deliver sustainable, profitable growth this year, while making strategic long-term investments across marketing, digital and technology and stores to enable future growth.”

American Eagle Outfitters, Inc. (No. 40)

Q2 2024: American Eagle Outfitters, Inc. said net revenue rose 8% year over year to reach $1.3 billion during its fiscal second quarter ended Aug. 3. While store revenue was up 7% for the period, American Eagle’s digital revenue grew 12% year over year.

“Our Powering Profitable Growth strategy is off to a great start, locking in a strong first half and setting us on track to achieve the high end of our prior operating profit outlook for 2024,” said Jay Schottenstein, American Eagle’s executive chairman of the board and CEO at American Eagle. “The second quarter marked our sixth consecutive quarter of record revenue and we successfully leveraged our cost base — advancing a number of strategic priorities to fuel growth across brands and channels and drive operating efficiencies.”

Best Buy (No. 8)

Q2 2024: Best Buy Co., Inc. recorded a 3% year-over-year drop in enterprise revenue, which totaled $9.3 billion in its fiscal second quarter ended July 29. Online sales were down 1.6% during the same period.

Read more on Best Buy’s earnings here.

Chewy, Inc. (No. 12)

Q2 2024: Chewy, Inc. said net sales were up 2.6% year over year to $2.86 billion in its fiscal second quarter that ended July 28.

“These top-line results demonstrate the predictability and durability of our business model even in a normalizing market,” said David Reeder, chief financial officer at Chewy, during the online pet supplies retailer’s most recent earnings call. “Active customers grew modestly on a sequential basis to approximately 20.0 million.”

Read more on Chewy’s earnings here.

The Gap, Inc. (No. 20)

Q2 2024: The Gap, Inc. reported that net sales grew 5% year over year to $3.7 billion for its fiscal second quarter that ended Aug. 3. Year-over-year online sales growth led other categories. They increased 7% and accounted for 33% of total net sales.

“In comparison to where we were only one year ago, we are in a stronger position across key metrics that matter — including net sales, margins, and our cash position — and we are making consistent progress in the reinvigoration of our brands,” said Richard Dickson, president and chief executive officer at Gap Inc. “These results are a reflection of the dedication and collaboration of our global team, reinforcing my confidence that we are well on our way to unlocking the full potential of this extraordinary portfolio of iconic American brands.”

Among the company’s brands, comparable sales were up 5% at Old Navy and 3% at Gap year over year. Meanwhile, Banana Republic remained flat, and Athleta sales were down 3%.

Lululemon Athletica, Inc. (No. 25)

Q2 2024: Lululemon Athletica, Inc. said net revenue increased 7% year over year to $2.4 billion during its fiscal second quarter ended July 28. The apparel retailer’s international comparable sales were up 19% for the period. That compares with 3% growth in the Americas.

“Earnings per share exceeded our expectations in the second quarter, driven by better-than-expected gross margin expansion and disciplined execution,” said Meghan Frank, chief financial officer at Lululemon, in the company’s earnings announcement. “As we enter the back half of the year, we remain focused on executing on our near-term priorities, while strategically investing for long-term growth.”

Nordstrom, Inc. (No. 22)

Q2 2024: Nordstrom recorded a 3.4% increase in net sales year over year, reaching $3.8 billion in its fiscal second quarter that ended Aug. 3. Digital sales represented 37% of total sales for the retailer. That’s up from 36% a year earlier.

“Our second-quarter results were solid, and we’re encouraged by the continued topline strength in both banners and the progress we’re making to expand gross margin and increase profitability,” said Erik Nordstrom, CEO at Nordstrom, Inc. “We’re confident in our outlook for the remainder of the year and look forward to sustaining the momentum we’ve built as we execute on our 2024 priorities.”

He also noted in Nordstrom’s earnings call that digital sales alone continued to see momentum with “net sales growth of 6%.”

Other recent ecommerce earnings results

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.

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.

Estee Lauder (No. 42)

Q4/FY 2024: The Estee Lauder Companies Inc. said its net sales were down 2% year over year to $15.6 billion for its fiscal full year that ended June 30. However, net sales from its fourth quarter were up 7.3% to $3.9 billion.

Net sales growth was flat in North America, where Estee Lauder cited a broad decline for makeup. Nevertheless, it saw double-digit growth in the specialty-multi category and claimed to see positive results from online net sales from Clinique’s fiscal 2024 launch on the U.S. Amazon Premium Beauty store.

“From La Mer’s entry into night-specific consumption, to The Ordinary’s expansion into new markets and more brands debuting in new channels, like on Amazon’s U.S. Premium Beauty store, we have a rich slate of initiatives to drive new consumer acquisition and continue to leverage our strength in retention,” said Fabrizio Freda, president and CEO for The Estee Lauder Companies, announcing its end-of-year results. “Alongside this work, we are realizing initial benefits of the Profit Recovery and Growth Plan as we rightsize our cost structure and simplify the organization to be more agile and faster to market.”

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.

Lowe’s Companies, Inc. (No. 11)

Q2 2024: Lowe’s Companies, Inc. said its total sales decreased 5.6% year over year to reach $23.6 billion during its second fiscal quarter of 2024 ended Aug. 2. Meanwhile, online sales were up 2.9% year over year for the quarter.

Read more on Lowe’s earnings results here.

Macy’s Inc. (No. 16)

Q2 2024: Macy’s Inc. recorded a 3.8% decline in net sales to $4.9 billion in its second fiscal quarter of 2024 ended Aug. 3. Meanwhile, online sales were up 2.9% year over year for the quarter. Excluding results from stores that the company plans to close, in-store and online sales were down 3.3% for the period.

Read more on Macy’s earnings results here.

Peloton (No. 48)

Q4/FY 2024: Peloton Interactive Inc. reported a 0.2% increase in total revenue year over year to $644 million in its fiscal fourth quarter ended June 30. The result marked the first time the company saw year-over-year revenue growth in a quarter since the second quarter of its 2022 fiscal year. Subscriptions accounted for $431 million of that total, with connected fitness products bringing in $212 million.

The company is focused on shrinking losses, which were down to $30.5 million in its most recent quarter from $241.1 million one year ago. That result came after refinancing in May, which allowed debt to decrease by about $200 million, the company stated.

Target Corp. (No. 5)

Q2 2024: Target reported that total sales increased 2.6% year over year to reach $25 billion in its second fiscal quarter of 2024 ended Aug. 3. Digital sales alone grew 8.7% during the same period.

Read more on Target’s earnings results here.

Walmart Inc. (No. 2)

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

Read more on Walmart’s earnings here.

Williams-Sonoma Inc. (No. 19)

Q2 2024: Williams-Sonoma Inc. said its net revenue was down 4% year over year to $1.8 billion for its second fiscal quarter, which ended July 28. The company, whose brands include its namesake, as well as Pottery Barn and West Elm, lowered its full-year outlook on revenue while raising its guidance on expected operating margin.

In addressing the most recent results, it also outlined current ecommerce priorities.

“Our investment in our proprietary ecommerce technology serves as a competitive advantage versus our peers,” said Laura Albert, president and CEO at Williams-Sonoma, during the company’s earnings call. “From product discovery and selection to personalization, content, customer care, and the final mile, our team is constantly thinking about how to elevate and evolve our best-in-class ecommerce experience.”

She said the company’s efforts during the quarter were directed at “expanding our online content and providing more inspiration in the shop app to drive conversion.”

Ecommerce earnings calendar

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

• Dick’s Sporting Goods: Sept. 4.
• Sportsman’s Warehouse: Sept. 6.
• Costco Wholesale: Sept. 26.

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