Retailers in North America reported ecommerce earnings results, with some promising results and quarterly improvements.

New earnings results are out from retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America. Their results show how some retailers are turning negative trends around despite continuing inflation pressuring consumers. Boot Barn, Canada Goose and Crocs were among the latest to report. Here’s the ecommerce earnings summary you need to know from this quarter. Read more ecommerce earnings coverage here.

Parentheses indicate the merchant’s ranking in the Top 1000, unless otherwise stated.

More retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America reported ecommerce earnings results for the most recent fiscal quarter.

This week’s ecommerce earnings takeaways

  • Some retailers talked about quarter-over-quarter improvement as they found success appealing to consumers who are dealing with inflation. Boot Barn and Canada Goose both mentioned this experience as a promising note going forward.
  • Walmart continues to benefit from higher-income consumers turning to its stores and website, with major U.S. ecommerce growth.

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.

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Read more on Alibaba’s earnings here.

Boot Barn Holdings Inc. (No. 404)

Q4 2024: Boot Barn reported that net sales declined 8.7% to $388.5 million in its fiscal fourth quarter ended March 30. Ecommerce sales declined 7.6%. For the full year, net sales grew 0.6% to $1.67 billion, the retailer said.

Boot Barn’s core customers are still facing persistent inflation, but fourth-quarter trends were meaningfully better than Q3’s, it said.

Canada Goose Holdings Inc. (No. 200)

Q4 2024: Canada Goose said revenue increased 22% to $358.0 million in its fiscal fourth quarter ended March 31. Direct-to-consumer revenue grew 19% due to higher ecommerce sales, it said. Revenue for the full year increased 10% to $1.33 billion. Layoffs of 17% of its workforce in March contributed to cost savings and greater efficiencies, Canada Goose said.

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However, even as results improved this quarter, “there’s clearly still some headwinds around consumer spending and specifically consumer luxury spending,” chief financial officer Neil Bowden told investors.

Crocs Inc. (No.97)

Q1 2024: Crocs reported that revenue grew 6% to $939 million in its fiscal first quarter ended March 31. Direct-to-consumer sales, including ecommerce, grew 11.8%, while wholesale grew 3.2%. 

Read more on Crocs earnings 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.

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Read more on Home Depot’s earnings here.

VTEX 

Q1 2024: VTEX reported that revenue grew 24.5% to $42.3 million. The global enterprise digital commerce platform said gross merchandise value (GMV) rose 22.2% to $4.0 billion.

VTEX provides ecommerce platforms for 25 retailers in the Top 1000.

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.

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Read more on Walmart’s earnings here.

Under Armour Inc. (No. 99)

Q4 2024: Under Armour said that total revenue and ecommerce revenue both declined in its fourth quarter of fiscal 2024 ended March 31. Ecommerce sales made up 43% of total DTC sales in the quarter.

Read more on Under Armour’s earnings here.

Other recent ecommerce earnings results

Allbirds Inc. (No. 395)

Q1 2024: Allbirds said revenue declined 27.6% to $39.3 million in the first quarter ended March 31. That was in line with previous guidance for the quarter, it said.

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“The year-over-year decrease is primarily attributable to lower overall demand, as well as the impact of international distributor transitions and retail store closures,” Allbirds said in a press release.

Its strategy going forward is to introduce new products that resonate with customers. Recent launches have performed well, CEO Joe Vernachio said.

Amazon.com Inc. (No. 1)

Q1 2024 earnings: Amazon net sales increased 13% to $143.3 billion in its fiscal first quarter, and 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).

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Read more on Amazon’s earnings results here.

Arhaus Inc. (No. 331)

Q1 2024: Arhaus net revenue declined 9.5% to 295 million in the first quarter ended March 31. The decline was due to a backlog of deliveries and weather-related delivery issues, the retailer said, partially offset by increased demand.

The retailer did not share specific ecommerce results.

“Really, really pleased with the results that we’re seeing on e-comm, both in terms of sales and also some of the improvements that we’re making in terms of getting traffic to the site and engages when people are on the site,” chief marketing officer Jennifer Porter told investors.

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Beyond Inc. (No. 63)

Q1 2024: Beyond, Inc. reported a slight earnings increase and growth in active customers and orders in its fiscal first quarter ended March 31.

Read more on Beyond’s earnings here.

Brilliant Earth Group, Inc. (No. 200)

Q1 2024: Brilliant Earth reported that revenue remained flat at $97.3 million in the first quarter ended March 31. Total orders grew 13%, and repeat order volume grew more than 20%, the jewelry retailer said. However, average order value declined 12.4%. That’s partially due to fine jewelry, as opposed to engagement rings, becoming a larger part of the business. For example, in the two weeks leading up to Valentine’s Day, fine jewelry sales grew 45% year over year. Heart-shaped jewelry sales grew 182% year over year in the full quarter.

CarParts.com, Inc. (No. 146)

Q1 2024: Revenue declined 5% $166.3 million in the quarter ended March 30, Carparts.com said. The majority of the decline came from lights and mirrors, which typically make up about one-quarter of revenue, the retailer said. Due to increased pressure on discount-seeking consumers, CarParts.com will focus customer acquisition on “consumers that want quality parts at competitive prices,” it said. That customer base is more profitable and will yield better margins going forward, the retailer added.

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Chewy Inc. (No. 12)

Q4 2023 results: Chewy, Inc. reported that net sales grew in its Q4 and fiscal 2023 ended Jan. 28, 2024, even as pet adoptions declined.

Read more on Chewy earnings here.

Costco Wholesale Corp. (No. 6)

Q2 2024 earnings: Costco said net sales grew 5.7% to $57.33 billion in its second fiscal quarter of 2024 ended Feb. 18. Ecommerce comparable sales grew 18.4% in the same period.

Read more on Costco ecommerce sales here.

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EBay Inc.

Q1 2024 earnings: EBay revenue grew 2% to $2.56 billion in Q1 ending March 31 while gross merchandise value (GMV) stayed largely flat.

The marketplace ranks No. 6 in Digital Commerce 360’s Global Online Marketplaces database

Read more on eBay’s earnings here.

Etsy Inc.

Q1 2024 earnings: Etsy revenue grew 0.8% to $646.0 million in its fiscal Q1 ended March 31.

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Etsy is No. 20 in the Global Online Marketplaces Database. Its musical instrument marketplace Reverb is No. 42 and used-clothing marketplace Depop is No. 51.

Read more on Etsy’s earnings results here.

Figs Inc. (No.163)

Q1 2024: Figs net revenue declined 0.8% to $119.3 million in the first quarter ended March 31. A decrease in orders was partially offset by an increase in average order value, Figs said.

“We’re going to continue to be disciplined around our promotional cadence and we’re going to continue to really utilize promotions in a very celebratory way,” CEO Trina Spear said as the retailer invests in marketing campaigns like the new “I am a nurse” campaign.

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Fossil Group, Inc. (No. 188)

Q1 2024: Fossil reported net sales decreased 22% to $255 million in the first quarter ended March 30. The retailer cited “category, consumer and channel softness,” as reasons for the decline, with declines in smartwatch sales also contributing. Industry trends continue to be difficult, the retailer said, as consumers look for value and low costs. However, Fossil predicts a long-term stabilization in the watch market.

Hanesbrands Inc. (No. 277)

Q1 2024: Hanes reported that net sales declined 17% to $1.16 billion in the first quarter ended March 30. That was in the middle of the company’s expectations, it said. Activewear was hit particularly hard, with sales falling 31% year over year to $97 million.

“The remainder of the year-over-year sales decrease was driven by the ongoing combination of challenging activewear apparel market dynamics, including soft consumer demand and cautious ordering from retailers,” Hanes said in a statement.

However, U.S. ecommerce sales fared better. They grew 12% year over year.

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Hims & Hers Health Inc. (No. 115)

Q1 2024: Hims & Hers revenue grew 46% to $278.2 million in the first quarter ended March 31. The health company significantly increased investments in TV and other brand campaigns over the last few years, which are now paying off, it said.

“A multi-specialty platform enables us to do this in an efficient manner as we’re able to speak to consumers broadly about a platform of capabilities versus an individual condition. It is clear to us that these efforts are starting to compound,” co-founder and CEO Andrew Dudum told investors.

The retailer ended the quarter with 1.7 million subscribers.

The Honest Company Inc. (No. 823)

Q1 2024: Revenue grew 3% to $86 million in the Honest Co.’s first quarter ended March 31. Baby apparel, wipes, and baby personal care categories drove the growth, it said. The retailer reported a net loss of $1 million, compared with a loss of $19 million in the year-ago period.

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The retailer found success on Amazon last quarter. It quadrupled the number of new-to-household customers on Amazon in Q1, it said.

iRobot Corp. (No. 422)

Q1 2024: iRobot said revenue declined 6% to $150.0 million in the first quarter ended March 30. 25% of Q1 revenue was from ecommerce due to greater-than-usual investment in online marketing, iRobot said. It added that that level is likely unsustainable in future quarters.

iRobot also announced Gary Cohen as its new CEO. Cohen previously worked as CEO of Qualitor Automotive and Timex.

Qurate Retail Inc. (No. 18)

Q1 2024: Qurate said revenue declined 4% to $2.64 billion in its fiscal first quarter ended March 31. The Cornerstone brand recorded the greatest decrease in revenue due to challenges in demand for home goods, the retailer said. Qurate is in the midst of a new advertising campaign aimed at the core customer of women over 50, it said.

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The RealReal Inc. (No. 714)

Q1 2024: The RealReal said revenue grew 1% to $144 million in its fiscal first quarter ended March 31. Gross merchandise value (GMV) grew 2% to $452 million over the same period. 

Customers on the resale website are “healthy overall,” chief operating officer Rati Levesque said. Average order value and average selling price both increased in the quarter, she added.

Revolve Group Inc. (No. 87)

Q1 2024: Revolve net sales declined 3% to $270.6 million in its fiscal first quarter ended March 31. The apparel retailer said the decline was due to less discounting of products than in the 2023 period. However, sales did grow year over year in the last month of Q1 and the first month of Q2, it said.

Revolve executives see an opportunity to grow their footprint in the luxury ecommerce space.

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“Challenges among certain of our luxury e-commerce competitors have further accelerated in recent months,” co-CEO Michael Mente said. “The resulting disruption affecting luxury consumers and luxury brands creates a compelling opportunity for a profitable and cash generative company like Revolve to capitalize by investing in strategies to gain market share. We believe there is an opportunity to pursue the millions of effectively abandoned luxury customers that are up for grabs in the aftermath of the recent industry malaise.”

Sally Beauty Holdings, Inc. (No. 399)

Q2 2024: Sally Beauty reported revenue declined 1.1% to $908 million in its fiscal second quarter ended March 31. Sales were hurt by soft traffic and slowing consumer purchase trends due to the inflationary environment, the retailer said. 

Ecommerce sales were $90 million, or about 9.9% of total sales.

Tapestry Inc. (No. 43)

Q3 2024: Tapestry said revenue declined 2% to $1.48 billion in its fiscal third quarter ended March 30. Online sales accounted for more than 25% of revenue and were more than three times as high as pre-pandemic online sales. 

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Direct-to-consumer sales declined 4%, but were offset by a 20% growth in wholesale, Tapestry said. The retailer includes brands Coach, Kate Spade, and Stuart Weitzman.

Target Corp. (No. 5)

Q4 2023 results: Target revenue grew 1.7% to $31.92 billion in its fiscal fourth quarter ended Feb. 3. Online sales declined 0.7%.

Read more on Target’s earnings here.

Tempur Sealy International Inc. (155)

Q1 2024: Tempur Sealy reported that revenue declined 1.5% to $1.19 billion in its fiscal first quarter ended March 31. Ecommerce was a particularly strong segment of the business in Q1, with North America sales increasing 7.7% to $124.2 million. Meanwhile, wholesale sales in the region declined 3.4%. Ecommerce remains a relatively small part of the business, though, Tempur Sealy said.

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ThredUp Inc. (No. 589)

Q1 2024: ThredUp revenue increased 5% to $79.6 million in the first quarter ended March 31. The resale retailer heavily invested in artificial intelligence (AI) in the quarter, enabling savings of $17 million and a 20% reduction in its workforce. 

“We have launched a new AI search experience and created two new AI-powered tools that allow consumers to thrift any style that inspires them,” CEO James Reinhart said.

He said those AI tools are uniquely beneficial to ThredUp because of its large and constantly changing catalog.

Warby Parker Inc. (No. 351)

Q1 2024: Warby Parker said net revenue grew 16.3% to $200.0 million in its fiscal first quarter ended March 31. That was the highest quarterly growth since 2021, it said. Active customer count also grew, and both increases are due to successful marketing efforts and customer acquisition strategies, Warby Parker asserted.

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“Earlier this year, we set out to reaccelerate both glasses and active customer growth,” said co-founder and co-CEO Dave Gilboa. “We’re encouraged to see strength in single-vision glasses as well as efficiencies across media channels, driven by our team’s strong marketing execution. In Q2 and beyond, we’ll continue to invest in customer acquisition while scaling our holistic vision care offering to drive higher customer lifetime value.”

Wayfair Inc. (No. 10)

Q1 2024 earnings: Wayfair Inc. reported earnings results from its fiscal first quarter ended March 31. Wayfair total net revenue in Q1 declined 1.6% to $2.7 billion.

Read more on Wayfair’s earnings results here.

Yeti Holdings, Inc. (No. 129)

Q1 2024: Yeti said net sales increased 13% to $341.4 million in its fiscal first quarter ended March 30. Drinkware sales grew 13%, and coolers grew 15%. Both led to growing sales across direct-to-consumer and wholesale channels.

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To meet continued demand, Yeti will introduce more new products this year. It will introduce cast iron cookware this summer and expand its barware items for Father’s Day.

Ecommerce earnings calendar

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

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