Ecommerce earnings from Signet, Shoe Carnival

The latest ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 2000 Database. Signet Jewelers continued with turnaround efforts as its sales dropped 5.8% year over year in its most recent quarter. Elsewhere, Shoe Carnival reported a net sales decline of 6.1% in its fiscal fourth quarter.

Parentheses indicate the merchant’s ranking in the Top 2000, unless otherwise stated. The database ranks North America’s largest ecommerce retailers by their annual web sales.

This week’s ecommerce earnings takeaways

Signet Jewelers’ net sales declined 5.8% year over year in its fiscal Q4.
Shoe Carnival sales fell 6.1% in its Q4, despite growing 2.3% year over year for its full 2024 fiscal year.

Tariffs impact mentioned by online retailers

Online and in-store retailers alike are working to include fiscal guidance factoring in tariffs and trade policy. Five Below’s outlook “reflects as best as we can currently estimate the recently announced tariffs and our mitigation strategies,” CEO Winnie Park said on a recent earnings call with investors.

President Donald Trump’s various tariffs on both specific countries and resources — such as steel and aluminum — are affecting retailers in various industries. Last week, executives at five major retailers shared how they’re factoring (or excluding) tariffs in their financial reporting. Executives at Academy Sports + Outdoors, Five Below, Nike, Shoe Carnival and Signet Jewelers each focused on the uncertainty they anticipate throughout the rest of 2025 as a result of tariffs.

“You never know who is going to get hit with the next round of tariffs,” said Academy’s CEO Steve Lawrence. He added that the 25% tariffs on steel and aluminum are “against any country” (not just China and Canada). Given the range of countries being included across the range of tariffs in place, he proposed that “having a diversified base is probably ultimately going to be the better answer, because you never know who is going to get hit with the next round of tariffs.”

Academy Sports + Outdoors, Inc. (No. 146)

Q4 2024: Academy Sports + Outdoors, Inc. said sales fell 6.6% year over year during its fiscal Q4 ended Feb. 1, to $1.7 billion. The retailer anticipates a return to topline sales growth in its 2025 fiscal year, said Steve Lawrence, the CEO at Academy. Part of its efforts will be focused on selling products from Nike’s Jordan brand, beginning in April, both online and in 145 physical stores.

“This year, we are introducing an exciting slate of new brands, including the launch of the Jordan brand with a focus on sport, with shops in men’s, women’s and kids,” Lawrence stated. “We’re also bolstering our targeted marketing capabilities, and rolling out new technology across our stores, all designed to elevate our ability to serve our core customers.”

FedEx Corp.

Q3 2025: FedEx Corp. recorded a revenue increase of 2.3% year over year to $22.2 billion in its fiscal third quarter ended Feb. 28. The carrier also lowered its revenue forecast for the full fiscal year to “slightly down year over year” its previous forecast of “approximately flat.”

“Our team continues to make strong progress on reducing our cost to serve and improving our operational performance — specifically at Federal Express — supporting operating income and earnings growth,” said John Dietrich, executive vice president and chief financial officer at FedEx Corp. “Our revised earnings outlook reflects continued weakness and uncertainty in the U.S. industrial economy, which is constraining demand for our business-to-business services. Despite this uncertainty, I’m confident we are well positioned to execute on our transformation initiatives and create stockholder value.”

Five Below, Inc. (No. 519)

Q4 2024: Five Below, Inc. said net sales grew 4.0% year over year to $1.39 billion in its fiscal fourth quarter ended Feb. 1. Net sales for the full fiscal year were up 8.9% to $3.9 billion.

Winnie Park, the CEO at Five Below, introduced the retailer’s new chief marketing officer, Jacob Hawkins, on its earnings call, stating that its digital channels are becoming a bigger part of its strategy.

“Customers are increasingly starting their shopping journeys online,” Park said. “They’re discovering what is hot and new on social media, and we need to meet our customers where they are.”

Nike, Inc. (No. 13)

Q3 2025: Nike, Inc. reported a 9.3% decrease in revenue year over year to $11.3 billion in its fiscal third quarter ended Feb. 28. Revenue from Nike Direct and wholesale were both down as Elliott Hill, president and CEO, expressed confidence that the company is “on the right path” with his “Win Now” strategy to fix its business trajectory.

Shoe Carnival, Inc. (No. 574)

Q4 2024: Shoe Carnival, Inc. recorded a net sales decline of 6.1% year over year to $262.9 million in its fiscal fourth quarter ended Feb. 1. Still, the sales for its full fiscal year remained up 2.3% year over year to $1.2 billion.

“We achieved the very top end of our annual profit guidance and drove solid sales growth despite a challenging economic landscape,” said Mark Worden, president and chief executive officer at Shoe Carnival. “Shoe Station expanded at a pace that made it the fastest growing retailer in our industry once again. We rapidly captured full synergies from our Rogan’s acquisition and grew our sales during key event periods throughout the year.”

Worden cited the retailer’s digital efforts during its earnings call as one of its strengths, enabling it to become more efficient.

“Our digital-first marketing approach continued to drive highly profitable growth and efficiencies, particularly during event periods, where we achieved sales growth during both the Thanksgiving and Christmas holiday periods, similar to growth achieved earlier in the year during back-to-school and spring events,” he stated.

Signet Jewelers Limited (No. 57)

Q4 2025: Signet Jewelers Limited reported sales decreased 5.8% year over year to $2.4 billion in its fiscal fourth quarter ended Feb. 1. In addition, the company attributed its drop in operating income (to $152.6 million from $416.3 million) in Q4 of its 2024 fiscal year to non-cash impairment charges of $200.7 million, chiefly related to its digital brands.

Digital sales growth remains one area where Signet hopes to improve results in its 2026 fiscal year.

On Signet’s earnings call, J.K. Symancyk, its CEO, noted that “probably one thing that we could delineate a little bit better is it also opens the door for expanded digital commerce for us.”

“That everyday purchase and the growth that’s happening there, much of it is happening online,” he stated.

Other recent ecommerce earnings results

American Eagle Outfitters, Inc. (No. 37)

Q4 2024: American Eagle Outfitters, Inc. said net revenue fell 4.4% year over year to $1.6 billion in its fiscal Q4 ended Feb. 1. Nevertheless, comparable sales were up 3% over the same period, the apparel retailer shared. The company’s CEO expressed cautious hope heading into the 2025 fiscal year.

“Entering 2025, the first quarter is off to a slower start than expected, reflecting less robust demand and colder weather,” stated Jay Schottenstein, executive chairman of the board and CEO at American Eagle. “While we anticipate improvement as the Spring season gets underway, we are also taking proactive steps to strengthen the top line, manage inventory and reduce expenses. As we navigate through an uncertain consumer and operating landscape, we will also remain focused on our long-term strategic priorities.”

Alibaba Group Holding Limited

Q3 2025: Alibaba Group Holding Limited recorded a year-over-year revenue increase of 7.6% to $38.4 billion in its fiscal third quarter. Revenue at Alibaba’s international B2B ecommerce segment, Alibaba International Digital Commerce Group (AIDC), was up 32% over the same period.

Amazon.com, Inc. (No. 1)

Q4 2024: Amazon, Inc. reported Q4 sales increased 10.5% year over year to reach $187.8 billion in its fiscal fourth quarter that ended Dec. 31. Of those sales, $115.6 billion came from North America.

Dick’s Sporting Goods, Inc. (No. 31)

Q4 2024: Dick’s Sporting Goods, Inc. reported net sales increased 0.5% year over year to $3.9 billion in its fiscal Q4 ended Feb. 1. Net sales for the full fiscal year were up 3.5% to $13.4 billion over the same period as the company outlined its digital investment priorities and voiced optimism for 2025. Digital plans include the retailer’s app for streaming youth sports and its retail media network.

“As part of our broader digital strategy, we’re also enthusiastic about two long-term growth opportunities, GameChanger and the Dick’s Media Network, ” said Lauren Hobart, president, CEO and director at Dick’s during its quarterly earnings call.

Hobart noted in an earnings release that Dick’s remains confident about 2025, even as it deals with a “dynamic macroeconomic environment.”

“With this in mind, we expect to drive continued comp growth, strategic expansion of our square footage, and improved gross margin,” Hobart stated. “Leaning into our strategic pillars, we are investing in three exciting growth areas, each with significant potential: repositioning our real estate and store portfolio, driving continued strong growth in footwear, and accelerating our ecommerce business.”

The Home Depot, Inc. (No. 4)

Q4 2024: The Home Depot, Inc. said net sales grew 14.1% year over year in its fiscal Q4 ended Feb. 2, to reach $39.7 billion. That’s up 6.6% from $37.71 billion during the same period in 2023. However, sales declined from $43.2 billion in the previous quarter. Full-year 2024 results, which the Hardware & Home Improvement retailer also reported, were up 4.5% year over year to $159.5 billion.

Kohl’s Corporation (No. 22)

Q4 2024: Kohl’s Corporation recorded a net sales decline of 9.4% year over year in its fiscal Q4 ended Feb. 1, to $5.2 billion. Ashley Buchanan, who stepped in as Kohl’s CEO in January, said during its earnings call that his “review of the business is still ongoing” but cited improved omnichannel experiences as one area where he believes the company can improve.

Specifically, Buchannan cited a need at Kohl’s to “restore trip assurance for our customers through greater buy depth and supply chain agility.”

“We want our customers to have a consistent experience across all channels, restoring trip assurance for key items, increasing inspiration in-store and online, and provide a more consistent store and digital experience so our customers can easily shop Kohl’s at any store or online and any platform,” he stated. “We can improve the customer experience with more consistent in-stocks for high-volume items, particularly our basic and essentials.”

Stitch Fix, Inc. (No. 37)

Q2 2025: Stitch Fix, Inc. said net revenue was down 5.5% year over year in its fiscal Q2 ended Feb. 1. Nevertheless, comparable sales were up 3% over the same period, the apparel retailer shared. The company’s CEO expressed cautious hope heading into the back half of the 2025 fiscal year.

Matt Baer, CEO at Stitch Fix, said his team was “encouraged by our progress” as they continue to work on a return to growth. The online apparel retailer saw a decrease in its number of active clients by 15.5% year over year to 434,000. Still, its net revenue per active client grew by 4.3% to $537 over the same period of time.

“Our team delivered another strong quarter, once again exceeding our expectations as we further advanced our transformation strategy,” said Baer.”Our clients are responding to the improvements we’ve made to our experience, including the increased newness in our assortment, expanded Fix flexibility, and investments in stronger client-stylist relationships.”

Target Corporation (No. 5)

Q4 2024: Target Corporation reported a 3.1% decline in net sales year over year. That’s down to $30.9 billion in its fiscal fourth quarter ended Feb. 1. That retailer’s digital comparable sales grew 8.7% in its Q4 as comparable sales overall rose 1.5% from a year prior. For the full year, net sales decreased 0.1%.

“Results were led by strong performance in Beauty, Apparel, Entertainment, Sporting Goods and Toys,” said Brian Cornell, chair and chief executive officer at Target, in an earnings release. “As we look ahead, our continued investments in digital capabilities, stores and supply chain — combined with a focus on newness, value, speed and reliability — will further differentiate our one-of-a-kind physical and digital shopping experience.”

Ulta Beauty, Inc.(No. 76)

Q4 2024: Ulta Beauty, Inc. reported net sales decrease of 1.9% year over year to $3.5 billion in its fiscal Q4 ended Feb. 1. Comparable sales, which including ecommerce, were up 1.5% for the period. This was down from 2.5% growth during the same quarter a year before. Paula Oyibo, Ulta’s chief financial officer, said ecommerce sales for the quarter were up in the mid-single-digit range.

Read more about Ulta Beauty’s ecommerce earnings here.

Walmart, Inc. (No. 2)

Q4 2025: Walmart, Inc.’s revenue grew 4.1% year over year to $180.6 billion in its fiscal Q4 ended Jan. 31. That’s a 4.1% increase over the same period in its fiscal 2024. During the period, online sales accounted for 18% of total sales for the Mass Merchant.

Ecommerce earnings calendar

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

GameStop: March 25
Dollar Tree: March 26
Chewy: March 26
Petco: March 26

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Ecommerce earnings recap: What you missed from Signet Jewelers, Shoe Carnival and more