Ecommerce earnings recap: Ralph Lauren and Under Armour

The latest ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 2000 Database. Executives this quarter kept a close eye on tariff impacts, with both Ralph Lauren Corp. and Under Armour Inc. reporting trade-related costs.

Ralph Lauren raised its full-year outlook after fiscal Q1 digital commerce sales grew double digits. However, it warned of potential industry-wide price increases in the U.S. linked to tariffs. Meanwhile, Under Armour said new U.S. duties will add about $100 million in costs this year. It warned that could push operating income to roughly half of last year’s level, despite ongoing brand and digital transformation efforts.

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

This week’s ecommerce earnings takeaways

Ralph Lauren (No. 67) said fiscal Q1 revenue grew 14% to $1.72 billion, with global direct-to-consumer comparable store sales up 13% and digital commerce gains of 19% in North America. It added 1.4 million new DTC customers and is expanding its predictive AI buying program to more core styles.
Under Armour (No. 134) reported fiscal Q1 revenue fell 4% to $1.13 billion, as ecommerce declined 12%. The company expects tariffs to cut fiscal 2026 operating income in half versus last year and is pursuing mitigation strategies, including selective price increases and supplier diversification.

Crocs Inc. (No. 94)

Q2 2025: Crocs Inc. reported revenue of $1.15 billion, up 3.4% from a year ago, for its fiscal Q2 2025 ended June 30. Both its Crocs and Heydude brands notched direct-to-consumer (DTC) gains, with international sales now representing just over half of revenue.

Overall, DTC revenue rose 4% to $584.9 million in Q2, while wholesale sales increased 2.8% to $594.4 million. The company swung to a net loss of $492.3 million from $228.9 million in profit a year earlier.

For the flagship Crocs brand, sales climbed 3.4% to $959.6 million. That included $494.9 million in DTC sales and $464.7 million from wholesale. By region, international sales were the standout, up 18.1% to $502.5 million. North America sales slipped 6.5% to $457.1 million after the brand pulled back on discounting..

“We see the U.S. consumer behaving cautiously around discretionary spending,” Crocs CEO Andrew Rees said on the earnings call. “Against this backdrop, our retail partners are acting more carefully and reducing their open-to-buy dollars in future seasons.”

Looking ahead, tariffs remain a concern. At current rates, the company expects them to cost about $40 million in the second half of 2025 and $90 million annually, according to Susan Healy, chief financial officer at Crocs.

To offset some of the pressure, Crocs plans select price increases in certain styles and markets, Rees said.

“We don’t think this is a market that we can be taking all of our prices up by a certain amount to simply mitigate the tariffs,” he added. “I don’t think that’s realistic given where our brands sell and the very broad base of our consumer base.”

Meanwhile, Heydude revenue reached $189.8 million in fiscal Q2. DTC revenue alone increased 7.6% to $90 million. Elsewhere, wholesale was down 12.4% to $99.8 million. The brand’s outlet stores are helping to extend awareness, Rees noted.

Crocs expects Q3 revenue to fall 9% to 11%, with softer wholesale orders and cautious U.S. consumers in the mix.

E.l.f. Beauty Inc. (No. 662)

Q1 2026: E.l.f. Beauty Inc. said net sales rose 9% year over year to $353.7 million in its fiscal Q1 ended June 30. Ecommerce revenue grew nearly 20% and now makes up about one-fifth of the business. On Aug. 1, the brand raised prices by $1 across its assortment to help offset rising U.S. tariffs on goods from China.

“This is only the third price increase we’ve taken in our 21-year history,” CEO Tarang Amin said.

Hims & Hers Health Inc. (No. 69)

Q2 2025: Hims & Hers reported revenue rose 73% year over year to $544.8 million in its fiscal Q2, which ended June 30. Subscribers grew 31% to more than 2.4 million. The DTC health company maintained full-year guidance of $2.3 billion to $2.4 billion despite ending its partnership with Wegovy maker Novo Nordisk, saying it expects growth in other categories to offset impacts.

Read more on Hims & Hers’ online sales here.

Peloton Interactive Inc. (No. 49)

Q4 2025: Peloton Interactive Inc. recorded revenue of $606.9 million in its fiscal Q4 ended June 30, down 5.7% from $643.6 million a year earlier. The results were still above its $571 million to $586 million guidance range. Full-year revenue fell 7.8% to $2.49 billion.

The connected fitness company said it ended the quarter with 2.8 million paid Connected Fitness subscriptions, down 80,000 from Q3, due to seasonally lower hardware sales and higher churn.

Peloton posted net income of $21.6 million, an improvement from a $30.5 million loss last year. The company credited better-than-expected sales and cost cuts for the result. Still, CEO Peter Stern wrote in a shareholder letter that operating expenses “remain too high” and announced a restructuring plan targeting at least $100 million in additional savings by the end of fiscal 2026, on top of a $200 million cut in fiscal 2025. This includes reducing the global workforce by 6%, paring indirect spending, and relocating some work.

“This is not a decision we came to lightly … but we believe it is necessary for the long-term health of our business,” Stern wrote.

CEO Liz Coddington said on Peloton’s earnings call that tariffs could cost the company about $65 million in fiscal 2026.

Stern said Peloton will “adjust prices” to reflect the value it provides and the costs of operating — “including shipping, returns, tariffs and other fees we pay” — signaling potential price increases ahead.

Looking ahead, Stern wrote that Peloton is “targeting an increase in our now cost-effective physical and online presence” to drive member and hardware sales growth. That includes expanding its retail footprint from one to 10 microstores, growing third-party store presence, and taking its “Peloton Repowered” resale program nationwide.

Building on that, Stern said on the earnings call that Peloton will evolve over time from a cardio fitness partner to “the world’s most trusted wellness partner.” The company plans to expand into strength, mental well-being, sleep, recovery, and eventually nutrition and hydration, he said. It will also use AI-powered personalized coaching to deliver individual insights, recommendations, and tailored plans.

For fiscal 2026, Peloton projects revenue of $2.4 billion to $2.5 billion, down about 2% at the midpoint. Q1 revenue is expected to decline 9% year over year to $525 million–$545 million. That reflects lower hardware sales and subscription declines.

Ralph Lauren Corporation (No. 67)

Q1 2026: Ralph Lauren Corp. said its revenue climbed to $1.72 billion for its fiscal Q1 ended June 28, up 14% year over year. This was led by double-digit gains in Asia and Europe. Global direct-to-consumer (DTC) comparable store sales rose 13%, driven by strength in both brick-and-mortar and digital channels.

In North America, comparable store sales climbed 12%. This included a 19% increase in digital commerce, which chief financial officer Justin Picicci attributed to site enhancements on RalphLauren.com.

Europe revenue grew 16% to $555 million, with comparable store sales up 10%, including an 11% digital commerce gain. Asia revenue surged 21% to $474 million, with comps up 18% and digital commerce soaring 35%.

The results “exceeded the expectations we laid out in May, even as we chose to reinvest back into our marketing, digital and ecosystem initiatives and return cash to our shareholders,” CEO Patrice Louvet said on the earnings call.

He noted that the company added 1.4 million new DTC customers in Q1. It also increased DTC average unit retail by 14%, reflecting higher full-price selling and fewer promotions.

Louvet also said Ralph Lauren is expanding its predictive AI buying program — tested last year in Asia and Europe. As it does, the program will include more core styles in fiscal 2026 to improve size availability, chase best-sellers, and drive sales and inventory efficiency.

On tariffs, Picicci said the U.S. outlook remains fluid but consistent with the announced rates as of Aug. 1, noting the potential for industry-wide price increases in the second half.

“This quarter’s solid performance and our continued momentum give us confidence to raise our full-year outlook, even as we remain cautious on the broader macroeconomic backdrop primarily in the second half of the fiscal year,” he said.

For Q2, Ralph Lauren expects high-single-digit constant currency revenue growth, and for fiscal 2026, low- to mid-single-digit growth.

Shopify Inc.

Q2 2025: Shopify Inc.’s revenue and gross merchandise volume each grew more than 30% in its fiscal Q2 ended June 30. The ecommerce software provider also launched Shopify Catalog to help AI platforms surface real-time product information from millions of brands. President Harley Finkelstein said Shopify is “ahead of the curve” in social commerce and now sees “agentic commerce” — AI-powered shopping through autonomous software agents — as the next key trend.

Under Armour Inc. (No. 134)

Q1 2026: Under Armour Inc. posted $1.13 billion in revenue in its fiscal Q1 ended June 3, down 4% from last year. Direct-to-consumer sales declined 3% to $463 million, with ecommerce falling 12% and making up 31% of direct-to-consumer (DTC) revenue, down from 34% a year ago.

In Q1, wholesale revenue declined 5% to $649.1 million. North American revenue fell 5% to $670.3 million, while international revenue slipped 1% to $466.6 million. The downturn was driven by lower full-price wholesale business and weaker ecommerce performance in both APAC and North America.

CEO Kevin Plank said the brand is undergoing a “bold transformation.” He expects Under Armour to sharpen its focus where “sports credibility, innovation, and style meet operational discipline.” On the earnings call, he described it as “reinvention and rebuilding,” with steps like cutting SKUs by 25% and materials by 30% in 2025, with further reductions planned in 2026 to lower cost and improve sourcing.

The company is also moving away from discount-driven selling toward premium, athlete-centered storytelling in its DTC channels, he said.

Digital transformation is another pillar. Plank said AI is now integrated across design, planning, and forecasting, with more than 80 automations streamlining workflows. He also pointed to an 18-point year-over-year increase in Under Armour’s ecommerce net promoter score to nearly 70.

Traffic and sell-through still have room to grow, he said. As they do, Under Armour is tackling that “faster site performance, richer storytelling and smarter merchandising,” he assessed.

Tariffs, however, are weighing heavily on profitability. Plank said U.S. tariffs announced July 31 will add about $100 million in costs this year. Combined with softer demand, this will reduce fiscal 2026 operating income to roughly half of last year’s level.

Chief financial officer Dave Bergman said tariffs will also create a 200-basis-point gross margin headwind. Most mitigation efforts, including cost-sharing with suppliers, alternative sourcing, and selective price adjustments, are not expected to take full effect until fiscal 2027, he said.

For Q2, Under Armour expects revenue to decline 6% to 7% year over year. Bergman noted the company “won’t make money in the U.S. this year” given the added tariff costs.

Warby Parker Inc. (No. 351)

Q2 2025: Warby Parker Inc. saw revenue of $214.5 million for its fiscal Q2 ended June 30, up 13.9% year over year. Retail sales grew 19.3% with store count up 16.4%, while ecommerce revenue inched up 2%, according to chief financial officer Steve Miller.

Active customers increased 9% to 2.60 million, marking the eighth straight quarter of accelerating growth. Average revenue per customer rose 4.6% to $31, the eyewear company said.

AI is becoming a central part of Warby Parker’s strategy. Co-CEO David Gilboa said the company’s new long-term partnership with Google aims to develop AI-powered smart glasses. He called it “a transformative step for our brand” that could expand the market well beyond traditional eyewear. Miller added that smart glasses adoption could surge once consumers can use them not just for photos and audio, but as their primary way of interacting with AI.

On the digital commerce side, co-CEO Neil Blumenthal said the company launched Advisor. Advisor is an AI-driven recommendation tool in its app designed to replicate the guided retail experience online. Early results are promising, and the tool will play “a meaningful role in driving product discovery and conversion,” he said.

Warby Parker will also sunset its long-running home try-on program by year-end in favor of a virtual try-on feature. The tool uses AI to recommend frames based on face shape, style preferences, and materials, Blumenthal noted.

Tariffs remain a factor, but Miller said the gross impact has moderated thanks to mitigation measures. These include shifting the supplier mix, selective price increases, and controlling expenses. Blumenthal added that price changes were limited to certain lens types and add-ons, with minimal impact on conversion, while preserving the entry-level $95 price point. Miller said the company expects China to represent a low-teens percentage of cost of goods sold by year-end.

For 2025, Warby Parker now expects revenue of $880 million to $888 million, up 14% to 15% year over year. Ecommerce growth is expected in the low- to mid-single digits. The company is on track to open 45 new stores this year, including its five Target shop-in-shops. Gilboa said its recent 300th store opening still leaves “significant white space ahead” toward a long-term goal of 900 North American locations.

Wayfair Inc. (No. 10)

Q2 2025: Wayfair Inc. saw revenue climb 6% year over year to $3.27 billion in its fiscal Q2 ended June 30, marking its third straight quarter of growth. U.S. revenue grew 5% and international sales rose 3%. Average order value also rose to $328 from $313 a year earlier. CEO Niraj Shah said Wayfair’s inventory-light marketplace model and broad supplier network help it offer strong value despite tariff uncertainty.

Read more on Wayfair’s online sales here.

Yeti Holdings Inc. (No. 126)

Q2 2025: Yeti Holdings Inc. reported net sales of $445.9 million for the fiscal Q2 ended June 28, down 4% year over year. This came amid a more promotional drinkware market, cautious consumer spending, and supply chain transition-related inventory constraints, the company said.

Direct-to-consumer (DTC) sales slipped 1% to $248.6 million, while wholesale revenue fell 7% to $197.3 million. U.S. sales decreased 5% to $367.8 million. However, international revenue rose 2% to $78.1 million. That was fueled by strong growth in Europe and the launch of the brand in Japan.

“Our brand continues to grow, resonating with audiences, both at home and around the world,” CEO Matt Reintjes said on the earnings call. “At the same time, we’re executing a major transformation in our supply chain that is setting us up extremely well for 2026 and beyond.”

On the DTC side, performance on Amazon remained strong, yeti.com traffic increased, and engagement with new product launches was high, he said. However, online conversion rates came in below expectations, offsetting gains from higher traffic and average order value.

Elsewhere, Yeti opened its 27th retail store in June and plans one more this year. Reintjes said further growth will come from product innovation, international expansion, and broadening the global customer base.

The company is on track to exceed its target of 30 new product launches this year, he said. In August, Yeti will launch a strategic partnership with Fanatics to sell team-color drinkware and hard coolers for all 32 NFL teams. In addition, it will offer options from select MLB, NHL, and NCAA programs, across Yeti’s own channels and Fanatics platforms.

On tariffs, Reintjes said Yeti is diversifying its supplier base. He noted that by year-end, less than 5% of its cost of goods sold will be exposed to U.S. tariffs on goods from China.

Chief financial officer Michael McMullen said Q2 tariff costs were lower than expected. Current guidance assumes those rates will hold through year-end, with China at 30% and other sourcing regions around 20%. This would result in a total net tariff cost of about $40 million.

For fiscal 2025, Yeti now expects adjusted sales to be flat to up 2%. That factors in a 300-basis-point hit from supply chain disruptions. Wholesale and DTC sales are still projected to grow in line with each other. International revenue is expected to climb 15% to 20%.

Other recent ecommerce earnings results

Alibaba Group Holding Limited

Q4 2025: Alibaba Group Holding Limited recorded a year-over-year revenue increase of 6.6% to $32.6 billion in its fiscal fourth quarter. Revenue at Alibaba’s international B2B ecommerce segment, Alibaba International Digital Commerce Group (AIDC), was up 22% from a year earlier.

Amazon.com, Inc. (No. 3)

Q3 2025: Amazon.com Inc.’s net sales rose 13% year over year to $167.7 billion in its fiscal second quarter ended June 30. North America segment sales grew 11% to $100.1 billion. Excluding foreign exchange effects, total net sales increased 12% year over year.

Apple Inc. (No. 3)

Q3 2025: Apple Inc. reported fiscal Q3 2025 revenue rose 10% year over year to $94.04 billion for the quarter ended June 28, driven by double-digit growth in iPhone, Mac, and services. CEO Tim Cook said Apple saw an acceleration in growth across most markets, including Greater China, India, and South Asia.

“And we had June quarter revenue records in more than two dozen countries and regions, including the U.S., Canada, Latin America, Western Europe, the Middle East, India and South Asia,” Cook said on the earnings call.

Apple incurred $800 million in tariff-related costs during the quarter. It expects that figure to rise to $1.1 billion in fiscal Q4, assuming no changes in current global tariff policies, Cook said.

While Apple does not break out its online sales, the company continues expanding its ecommerce footprint – most recently with the Apple Store online launch in Saudi Arabia – and noted strong growth in services and App Store sales. Paid accounts and subscriptions reached all-time highs, with over 1 billion subscriptions across its services platform, Cook said. App Store revenue grew by double digits and set a Q3 record, while Apple TV+ viewership was also up double digits, he noted.

IPhone sales also set a fiscal Q3 record, with revenue up 13% year over year. Services revenue grew 13%, and Mac sales rose 15%. However, iPad revenue declined 8%. Revenue from wearables, home and accessories fell 9%, attributed to tough comparisons from product launches last year.

Looking ahead, Apple expects revenue to grow mid- to high-single digits in the September quarter, with services revenue growth in line with Q3.

Beyond Inc. (No. 73)

Q2 2025: Beyond Inc. reported $282.3 million in net revenue for its fiscal Q2 ended June 30, a 29.1% year-over-year drop but a sequential increase of 22% from Q1. Average order value rose $25 and orders delivered grew 8%, according to chief financial officer Adrianne Lee. Executive chairman Marcus Lemonis said the company remains focused on building a profitable core ecommerce business, not letting it be “the reason that the company is burning cash.”

CVS Health Corporation (No. 101)

Q2 2025: CVS Health Corp. said revenue rose 8.4% year over year to $98.92 billion in fiscal Q2 2025, which ended June 30, driven by growth across all business segments. The quarter builds on momentum from Q1, as CVS continues recovering from last year’s headwinds.

While CVS doesn’t specify online revenue, executives said digital tools and technology investments are improving pharmacy workflows, streamlining care delivery, and helping drive prescription and front-store volume growth. Earlier this year, CVS launched a new CVS Health mobile app that consolidates pharmacy and ecommerce features into a single digital touchpoint.

“Our recovery has been a top priority,” CEO David Joyner said on the earnings call. “We enhanced our operations using technology to automate and streamline processes that improve service and reduce friction for our members and health care professionals.”

Pharmacy and consumer wellness revenue rose 12.5%, helped by increased prescription and front-store volume. The health care benefits segment grew 11.6%, with gains tied to government programs such as Medicare Part D. Health services revenue rose 10.2%, driven by drug mix and brand inflation, partially offset by client pricing improvements.

Revenue in CVS’s health care delivery business rose approximately 19%, boosted by patient growth at Oak Street clinics and increased volume at home-based care platform Signify. Medical membership in Aetna health plans declined by 358,000 members to 26.7 million.

CVS said it will acquire prescription files from certain Rite Aid pharmacies in 15 states and operate select Rite Aid locations in Idaho, Oregon, and Washington. The company also pledged to invest $20 billion over the next decade to simplify U.S. health care and advance system interoperability.

Camping World Holdings Inc. (No. 248)

Q2 2025: RV retailer Camping World Holdings Inc. saw its revenue rise 9.4% year over year to $2.0 billion for its fiscal Q2 2025, which ended June 30. This was driven by record vehicle sales volume and cost control efforts. The company sold 45,602 RVs during the quarter — its highest quarterly total to date — including double-digit gains in both new and used units, CEO Marcus Lemonis said on the earnings call.

“We set a record, selling more RVs than we ever have in an entire quarter,” he said.

Net income jumped 146% to $57.52 million. New vehicle revenue rose 8% to $915.1 million, while used vehicle revenue climbed 19% to $572.3 million. Unit sales increased 20.9% for new vehicles and 20.4% for used vehicles, though average selling prices declined 10.6% and 1.2%, respectively.

Camping World does not report online sales. However, Lemonis highlighted the company’s recurring revenue model built around vehicle sales, financing, Good Sam memberships, and aftermarket services, with multiple customer touch points post-purchase.

The company consolidated 16 store locations and cut 1,000 employees since January. It cited improved unit count, margin, and profitability per location as a result.

“We expect to continue to grow our new business in ’26 and outsize our growth in used in ’26, and we expect to do that with fewer rooftops and a tighter expense structure,” Lemonis said.

eBay Inc. (No. 6 in Digital Commerce 360’s Global Online Marketplaces Database)

Q2 2025: EBay Inc. saw $2.73 billion in revenue for the second fiscal quarter ended June 30, up 6% year over year and its highest since the pandemic in 2021. Gross merchandise volume (GMV) also rose 6% to $19.51 billion, with “focus categories” like collectibles growing more than 10%. Executives noted limited impact from U.S. tariff rule changes affecting shipments from Greater China.

Read more on eBay’s online sales here.

Etsy Inc. (No. 20 in the Global Online Marketplaces Database)

Q2 2025: Etsy Inc. said its revenue grew 3.8% year over year to $672.8 million in its fiscal second quarter ended June 30, driven by ad performance and payments. However, gross merchandise sales (GMS) declined 4.8% to $2.81 billion. Executives said they plan to leverage agentic and generative AI tools ahead of the holiday shopping season.

Read more on Etsy’s revenue and GMS here.

Logitech International S.A. (No. 262)

Q1 2026: Logitech International S.A. said its sales rose 5% year over year to $1.15 billion for its fiscal Q1 2026, which ended June 30, as the company navigated tariff pressures and global macro challenges. Growth was driven by both consumer and B2B demand, with standout performance in Asia Pacific.

“Amidst plenty of uncertainty, our team delivered good topline growth and improved profitability, demonstrating Logitech’s resilience in a challenging environment,” CEO Hanneke Faber said on the earnings call.

Logitech does not break out ecommerce sales. However, it highlighted strong momentum in its B2B segment, particularly video collaboration. That area grew 13% year over year. Personal workspace products rose 6%, fueled by demand for webcams and tablet accessories. Logitech for Business outpaced consumer demand overall, Faber noted.

Regionally, sales rose 15% in Asia Pacific and 9% in Europe, the Middle East and Africa (EMEA), while North America declined 4% due to temporary shipping pauses during price negotiations, Faber said.

Tariffs had a significant impact on Q1 results, shaving roughly 100 basis points from performance. Faber said Logitech offset these headwinds with price increases in North America, cost controls, and manufacturing diversification. Logitech expects the tariff impact to deepen in Q2 — between 200 to 300 basis points — but partially offset by 200 basis points of price benefit.

Two-thirds of Logitech’s sales are generated outside the U.S., and the company is reducing reliance on China. By year-end, only 10% of U.S.-bound products are expected to originate from China, down from 40% in April, Faber noted.

“Looking ahead, I’m very optimistic about our opportunities,” Faber said. “We’ll continue playing offense to drive market share gains, rigorously managing costs, and staying agile in responding to a dynamic environment.”

The Procter & Gamble Company (No. 486)

Q4 2025: The Procter & Gamble Company (P&G) said net sales rose 2% to $20.89 billion for its fiscal Q4 ended June 30. Full-year revenue was flat at $84.28 billion. Ecommerce sales grew 12% in fiscal 2025, now representing 19% of total sales, up from 18% in the prior year.

P&G also said it will raise prices on about 25% of its U.S. products starting in August. In doing so, it intends to offset $1 billion in expected tariff-related costs in fiscal 2026. The increases, mostly mid-single digits, apply to SKUs impacted by new and expanded duties.

“We’re pleased with the performance P&G people delivered last fiscal year in the face of a very dynamic, difficult and volatile environment, growing sales and profit and returning high levels of cash to shareowners despite heightened consumer anxiety with tariffs, inflation, interest rates, political and social divisiveness and immigration and employment status uncertainty,” CEO Jon Moeller told investors on the earnings call.

Moeller also highlighted ongoing momentum in ecommerce, naming Walmart, Costco, and Amazon as key contributors.

“We continue to see strength in the online channel,” he said. “That trend isn’t stopping,” though it creates near-term inventory headwinds due to leaner fulfillment models among online and club retailers.

P&G saw organic growth in nine of 10 product categories for the year. Moeller noted a deceleration in consumer demand in the U.S. and Europe. He said shoppers are being more cautious, seeking value in promotions or bulk buys across digital and club channels.

Tariffs weighed on margins in Q4, shaving 40 basis points from core gross margin, which fell 70 basis points overall. Looking ahead, chief financial officer Andre Schulten said fiscal 2026 guidance includes roughly $1 billion in pre-tax tariff costs. That would be about $800 million after tax.

As a result, P&G plans mid-single-digit price increases on about 25% of SKUs impacted by tariffs, primarily in the U.S., he said.

“That is not vastly different from what we typically take with innovation, a couple of points higher to account for the tariff impact that we can’t offset with productivity,” Schulten said. “If you average out the pricing across the entire portfolio, we’re looking at about 2.5%, broadly in line with where inflation is trending, so also not too disruptive.”

P&G also announced a portfolio and productivity initiative in June aimed at improving its cost structure and competitiveness. As part of the plan, the company expects to incur $1 billion to $1.6 billion in restructuring costs over two years. It also expects to reduce up to 7,000 non-manufacturing roles by the end of fiscal 2027.

Leadership changes are also underway. Moeller will step away as CEO and become executive chairman on Jan. 1, 2026. Shailesh Jejurikar, currently chief operating officer and a P&G veteran since 1989, will succeed him as president and CEO.

Steven Madden, Ltd. (No. 242)

Q2 2025: Steve Madden Ltd. reported Q2 revenue rose 6.8% year over year to $559.0 million, boosted by the recent acquisition of European footwear brand Kurt Geiger. Direct-to-consumer (DTC) sales jumped 43.3% to $195.5 million, but declined 3.0% excluding Kurt Geiger. CEO Ed Rosenfeld said ecommerce outperformed stores and warned of continued tariff-related headwinds in Q3.

Target Corporation (No. 5)

Q1 2025: Target Corporation said net sales declined 2.8% year over year to $23.8 billion in its fiscal first quarter ended May 3. Despite the overall drop, Q1 online sales were up 4.7% year over year from a year earlier.

Read more on Target’s online sales here.

The Home Depot Inc. (No. 4)

Q1 2025: The Home Depot Inc. reported net sales grew 9.4% year over year to $39.8 billion in its fiscal Q1 ended May 4. Billy Bastek, executive vice president of merchandising at The Home Depot, credited the retailer’s Magic Apron generative artificial intelligence (AI) tool as online sales rose 8% over the same period.

Read more on Home Depot’s online sales here.

Walmart Inc. (No. 2)

Q1 2026: Walmart Inc.’s total revenue increased 2.5% year over year to $165.6 billion in its fiscal first quarter ended April 30. Online sales became profitable for the retailer in the quarter. Q1 also marked the seventh time in 10 quarters that Walmart online sales grew more than 20% year over year.

Ecommerce earnings calendar

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

On Holding: Aug. 12
Advance Auto Parts: Aug. 14
Tapestry: Aug. 14

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Ecommerce earnings recap: What you missed from Ralph Lauren, Under Armour and more