The latest ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 1000 and Europe databases. Both Procter & Gamble and Ferragamo raised concerns about continuing challenges in China. P&G recorded a 1.0% year-over-year decline in net sales globally, while Ferragamo saw revenue drop 7.2%. 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
- The Procter & Gamble Company reported a 1.0% decline in net revenue year over year in its Q1, noting China troubles.
- Salvatore Ferragamo’s revenue was down 7.2% year over year in its third quarter, with its wholesale channel sales down 12.8%.
Salvatore Ferragamo S.p.A. (No. 323 in Europe database)
Q3 2024: Salvatore Ferragamo reported that revenue fell 7.2% at constant exchange rates year over year to $239.06 million (€221 million) in its fiscal third quarter ended Sept. 30. Ferragamo’s direct-to-consumer (DTC) net sales also fell 5.7% during the same period. That was a lighter drop than the 12.8% decline in net sales for its wholesale business. Net sales struggled the most in the Asia Pacific region. There, they fell 20.5% year over year for the footwear and fashion brand.
“The results of the third Quarter have been impacted by the challenging macroeconomic and consumer environment and we expect this trend to continue in the last part of the year,” said Marco Gobbetti, chief executive officer and general manager at Ferragamo, in the company’s earnings release. “Decreasing consumer confidence is most notable in Asia Pacific, being the main phenomenon impacting our sales performance.”
The Procter & Gamble Company (No. 511)
Q1 2025: The Procter & Gamble Company said net sales declined 1.0% year over year to $21.7 billion in its fiscal first quarter ended Sept. 30. The consumer packaged goods company cited continuing problems in China. There, Andre Schulten, chief financial officer at Procter & Gamble stated that “organic sales declined 15%.” Schulten blamed “market conditions weakened further during the quarter,” along with digital platform challenges. He said “it will likely be a few more quarters until we return to growth in China.”
In Procter & Gamble’s earnings call, Schulten described digital challenges resulting from Chinese consumers’ shift onto Douyin. Douyin is a short-form social video app that shares a common owner (ByteDance) with TikTok.
“Again, online is a significant part of the business and even within the online spectrum, a shift into Douyin is a significant part of what needs to be taken into account where the communication model, the way to build brand equity and the way to communicate value is different than in any other digital channel,” Schulten noted. “A shift in the brick-and-mortar business towards club, towards grocers and supers is another area that needs to be taken into account. So we are, as I mentioned earlier, we are rebuilding our distributor partnerships to ensure that we can reach consumers in the right places with the right prices, with the right on-shelf availability across all propositions.”
Winmark Corporation (No. 1567)
Q3 2024: Winmark Corporation net income fell 0.3% year over year to $11.1 million in its fiscal third quarter ended Sept. 28, the company reported. The company is responsible for resale-focused franchises such as Plato’s Closet, Play It Again Sports and Music Go Round.
Winmark said that its latest results were impacted by a 2021 decision pausing new leases and allowing existing leases to expire. As of the end of Winmark’s third quarter, it counted 1,343 franchises in operation. It also had 82 franchises awarded but not yet open.
Other recent ecommerce earnings results
Albertsons Companies, Inc. (No. 24)
Q2 2024: Albertsons Companies, Inc. reported net sales grew 1.6% year over year to $18.6 billion in its fiscal second quarter that ended Sept. 7. Digital sales were up 24% for the period, during which the company also credited omnichannel and retail media efforts for its results.
“In the second quarter of fiscal 2024, investments in our Customers for Life strategy continued to drive strong growth in our digital sales and pharmacy operations,” said Vivek Sankaran, CEO at Albertsons, in the grocer’s earnings release. “We also drove strong year-over-year growth in our loyalty members and omnichannel shoppers, and accelerated growth in our Albertsons Media Collective.”
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.
Aritzia, Inc. (No. 157)
Q2 2025: Aritzia, Inc. said net sales increased 15.3% year over year to $615.7 million during its fiscal second quarter ended Sept. 1. Net revenue from ecommerce was up 10.4% to $190.0 million for the quarter, accounting for 30.9% of Aritizia’s total net revenue.
“Our performance during the second quarter of Fiscal 2025 exceeded our expectations, as we delivered a 15% increase in net revenue compared to the second quarter of Fiscal 2024 and generated comparable sales growth of 6.5%,” said Jennifer Wong, CEO at Aritzia. “Our top line was fueled by a 24% net revenue increase in the United States, which was driven by our proven real estate expansion strategy, a meaningful acceleration in ecommerce growth and strong comparable sales growth in our boutiques.”
Bassett Furniture Industries, Inc. (No. 408)
Q3 2024: Bassett Furniture Industries, Inc. recorded a 13.3% year-over-year decrease in net sales, which totaled $75.6 million in its fiscal third quarter ended Aug. 31. Bassett highlighted the role of a cyber incident, reported in July, which it said shut down financial and manufacturing systems for seven days.
“The industry remained challenged by economic factors in the quarter, including a slow housing market that is forecasted to improve heading into 2025,” said Robert Spilman, Jr., chairman and CEO at Bassett, in the company’s earnings results. “With our strong balance sheet and our focus on right-sizing our expense structure, our goal is to drive better profitability.”
Spilman noted Bassett is “committed to returning to profitability,” targeting an improvement of $5.5 million to $6.5 million to its bottom line in the coming year as it proceeds with a restructuring plan.
Helen of Troy Limited (No. 163)
Q2 2025: Helen of Troy Limited said net sales declined 3.5% year over year to $474.2 million in its fiscal second quarter ended Aug. 31. Despite the drop, Noel Geoffroy, CEO at Helen of Troy, said the retailer exceeded expectations while dealing with major challenges.
“During the quarter, we took decisive actions toward our long-term strategic initiatives, including strengthening the core and further shaping our growth portfolio,” Geoffroy stated. “In addition, despite persistent macro headwinds, we achieved early results on our efforts to ‘Reset and Revitalize’ our business, driven by improved brand fundamentals, optimized marketing and innovation, and expanded distribution.”
Helen of Troy’s sales of hair appliances, air purifiers and humidifiers all fell during the quarter, while it managed to find growth in its home and insulated beverageware categories, international sales and the fans and thermometers it carries.
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 ecommerce earnings here.
Johnson & Johnson (No. 359)
Q3 2024: Johnson & Johnson’s net sales increased 5.2% year over year to $22.5 billion in its fiscal third quarter that ended Sept. 29. The company cited sales growth of 6.3% in its Innovative Medicine segment, as well as 6.4% in its MedTech segment for the period.
“Johnson & Johnson’s strong results in the third quarter reflect the unique breadth of our business and commitment to delivering the next wave of healthcare innovation,” said Joaquin Duato, chairman and chief executive officer at Johnson & Johnson, in a released statement. “During the quarter, we advanced our pipeline with regulatory approvals for Tremfya and Rybrevant, submitted an IDE [investigational device exemption] for our general surgery robotic system, Ottava, and launched Velys Spine and Shockwave E8 IVL Catheter, further strengthening our confidence in our near-and long-term growth targets.”
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 ecommerce earnings results here.
Walgreens Boots Alliance (No. 14)
Q4 2024: Walgreens Boots Alliance said net sales were up 0.6% year over year to $37.5 billion during its fiscal fourth quarter that ended Aug. 31. The company revealed it would close 1,200 physical locations over three years, about 500 of those closures occurring in its 2025 fiscal year. These closures and the current turnaround effort at Walgreens both came up in the pharmacy chain’s earnings announcement.
“In fiscal 2025, we are focusing on stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow, and continuing to address reimbursement models to support dispensing margins and preserve patient access for the future,” said Tim Wentworth, CEO at Walgreens Boots Alliance. “Fiscal 2025 will be an important rebasing year as we advance our strategy to drive value creation.”
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 ecommerce earnings here.
Ecommerce earnings calendar
Here’s when other ecommerce earnings are scheduled to report this quarter:
- Deckers Brands: Oct. 24
- Tractor Supply Co.: Oct. 24
- Goodfood Market Corp.: Nov. 12
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