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, some retailers in the European ecommerce database also shared results. Retailers across luxury and personal care products reported challenges as consumers remained picky about discretionary spending. 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.

Adidas AG

Adidas reported preliminary results for its first quarter of 2024 ended March 31. Revenue grew 4% year over year to 5.46 billion euros. The latest Yeezy drop generated 150 million euros in revenue and 50 million euros in operating profit in the first quarter, Adidas said. Due to better-than-expected results, the retailer increased its 2024 guidance to expect mid to high single-digit growth.

Adidas ranks No. 16 in the Europe Database, which ranks the largest online retailers in the region. 

Amazon.com Inc. (No. 1)

Amazon beat expectations with earnings for its fiscal fourth quarter ended Dec. 31, 2023. Its net sales in the quarter grew 14% year over year to $170.0 billion.

Full-year sales grew 12% to $574.8 billion in 2023, up from $514.0 billion in 2022. Read more about Amazon’s earnings here.

Chewy Inc. (No. 12)

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)

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.

Home Depot (No. 4)

Home Depot reported that online sales increased about 2% year over year in its fiscal fourth quarter ended Jan. 28. Meanwhile, total Q4 sales decreased 2.9% year over year to $34.8 billion.

Read more about Home Depot’s earnings here.

LVMH

LVMH reported that total revenue declined 2% to 20.69 billion euros in its fiscal first quarter ended March 31. The wine and spirits category recorded the greatest decline, down 16% year over year. The decline in champagne reflected a continued decrease in post-COVID demand. Meanwhile, other products achieved strong growth in 2023, making results appear weaker this year, LVMH said.

Ecommerce sales grew more slowly than physical retail, but that’s not necessarily a problem, said chief financial officer Jean-Jacques Guiony.

“If products are being sold in stores, we see no necessity to put a lot of them onto the ecommerce and vice versa,” he said. “So basically, I would view the fact that ecommerce is growing less than stores as a good sign of the health of the store channel, which is obviously by far the most important for us.”

LVMH is No. 3 in the Europe Database.

Procter & Gamble Co. (No. 512)

Procter & Gamble reported net sales increased 1% to $20.2 billion in its third quarter ended March 31. The business attributed sales growth across beauty, grooming, home care and baby care segments to pricing increases.

“We expect the environment around us to continue to be volatile and challenging, from input costs to currencies to consumer, retailer and geopolitical dynamics,” chief financial officer Andre Schulten told investors in an earnings call.

Target Corp. (No. 5)

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.

Walmart (No. 2)

Walmart said U.S. online sales grew 17% for its fiscal 2024 fourth quarter ended Jan. 31. Its global ecommerce sales grew 23% over the same period, while international ecommerce increased 44%. 

Read more about Walmart’s earnings here.

So what does it mean?

• European retailers reported the same challenges that U.S.-based retailers have noted for several quarters now as consumers trade down and look for opportunities to save money.
• Adidas avoided the trend, surpassing expectations and raising guidance for the rest of the year due in part to its successful Yeezy collection.

Ecommerce earnings calendar

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

• Amazon.com Inc.: Feb. 1
• Best Buy Co Inc.: Feb. 29
• Costco Wholesale Corp.: March 7
• The Home Depot Inc.: Feb. 20
• Lowe’s Cos Inc.: Feb. 27
• Target Corp.: March 5
• Walmart Inc.: Feb. 20

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