Ecommerce earnings recap: What you missed from Lululemon, Signet and more

The latest ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 1000 Database. Lululemon Athletica saw net revenue rise 8.7% in its most recent quarter, with digital revenue up 4%. Elsewhere, Signet Jewelers recorded a 1.5% drop year over year for sales at its digital banners. 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

Lululemon Athletica Inc.’s net revenue increased 8.7% year over year, with digital revenue up 4%.
Signet Jewelers records a decrease in net sales of 3.1%, while sales at digital banners fell 1.5%.

Chewy, Inc. (No. 10)

Q3 2024: Chewy, Inc. reported a 4.8% increase in net sales to $2.9 billion in its fiscal third quarter ended Oct. 27. The pet food and toy retailer shared that its auto-ship program for pre-scheduled orders saw revenue rise to $2.3 million in the quarter, up from $2.1 million a year earlier.

The Kroger Co. (No. 6)

Q3 2024: The Kroger Co. announced that sales fell 1% year over year to $33.6 billion in its fiscal third quarter ended Nov. 9. Despite struggles, the grocer touted digital coupon clipping, which Rodney McMullen, the CEO at Kroger, said was up 5% this year compared to last year, leading to 14% more savings for its customers.

Lululemon Athletica Inc. (No. 25)

Q3 2024: Lululemon Athletica Inc. reported that net revenue rose 8.7% year over year to $2.4 billion in its fiscal third quarter ended Oct. 27. At U.S. stores, comparable sales were down 2% from a year ago, while international comparable sales were up 25% over the same period, according to Lululemon’s published results. Nevertheless, the retailer saw a boost from ecommerce sales.

“In our digital channel, revenue increased 4% and contributed [$]945 million of top line, or 39% of total revenue,” said Meghan Frank, chief financial officer, at Lululemon, during the company’s earnings call.

Signet Jewelers Limited (No. 57)

Q3 2025: Signet Jewelers Limited said sales decreased 3.1% year over year to $1.3 billion in its fiscal third quarter ended Nov. 2. The retailer noted that sales from its digital banners decreased 1.5% during that same period.

During Signet’s earnings call, Joan Holstein Hilson, chief financial strategy and services officer for the jewelry merchant, said the company has brought in Corinne Bentzen, a veteran of Tiffany’s and Home Depot, to serve as Signet’s new digital banner president. In addition, Signet expects to “incur leadership transition costs of approximately $7 million” associated with its digital operations.

“In fact, when excluding the impact of our digital banners and hurricanes, we delivered same-store sales growth of one point,” Hilson said. “Fashion sales were positive as we continue to see strong sell-through of new merchandise, partially offsetting the decline in engagement performance in our digital banners.”

Ulta Beauty, Inc. (No. 36)

Q3 2024: Ulta Beauty, Inc. recorded a 1.7% increase in net sales to $2.5 billion in its fiscal third quarter ended Nov. 2. However, comparable sales alone increased just 0.6% year over year.

David Kimbell, CEO at Ulta Beauty, cited factors “including the normalization of the U.S. beauty category, a dynamic consumer environment, and elevated competition, particularly in prestige beauty,” as difficulties that the retailer faces. Still, he pointed to online campaigns and digital efforts that drove growth in the third quarter.

“During the quarter, key online activations drove guest engagement and our expanded sampling program delivered double-digit sales growth,” Kimbell said. “Our digital merchandising strategies, including enhanced search, guided navigation, and enriched product pages, drove conversion and our site optimization efforts are improving the guest experience and delivering stronger conversion trends.”

Other recent ecommerce earnings results

Alibaba Group Holding Limited

Q2 2025: Alibaba reported revenue of $33.7 billion. That’s a 5% year-over-year increase, and a net income of $6.32 billion.

“Alibaba’s international digital commerce revenue growth remained robust, while cloud revenue, excluding our consolidated subsidiaries, grew steadily, supported by an increasing contribution from AI products,” CEO Eddie Wu shared with analysts. “We’ve enhanced operational efficiency, strengthened monetization capabilities, and improved the performance of our loss-making businesses across segments.”

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 GMV. Tmall ranks No. 2. Both platforms operate in China and primarily serve the Chinese market. Among Alibaba’s other marketplaces is the global B2B marketplace Alibaba.com.

Best Buy Co., Inc. (No. 8)

Q3 2025: Best Buy Co., Inc. said net sales decreased 2.9% year over year to $9.4 billion in its fiscal third quarter ended Nov. 2. The consumer electronics retailer also noted that online sales fell 1% over the same period.

Amazon.com, Inc. (No. 1)

Q3 2024: Amazon.com, Inc. reported an 11% increase in net sales, reaching $158.9 billion for its fiscal third quarter ended Sept. 30. That’s up from $143.1 billion in Q3 2023. Operating income grew year over year to $17.4 billion from $11.2 billion. Meanwhile, net income increased to $15.3 billion, compared to $9.9 billion in Q3 2023.

During the Q3 earnings call, CEO Andy Jassy said Amazon’s Stores business saw a 9% year-over-year sales increase in North America. Sales were also up 12% internationally.

“At a time when consumers are being careful about how much they spend, we’re continuing to lower prices and ship even more quickly, and we can see this resonating with customers as our unit growth continues to be strong and outpace even our revenue growth,” Jassy said.

On the technology front, Amazon introduced AI-driven features to help improve both customer and seller experiences. This included the expansion of Rufus, its generative AI shopping assistant, to international markets such as Canada and the U.K. The company also launched AI Shopping Guides to simplify product research by merging category insights with its catalog. For sellers, it unveiled Project Amelia, offering tailored business insights to boost productivity.

Ahead of the holiday season, Amazon plans to hire 250,000 U.S. employees. CEO Andy Jassy highlighted major upcoming initiatives. Those included “tens of millions of deals,” an NFL Black Friday game, and more than 100 new cloud and AI features.

Dick’s Sporting Goods, Inc. (No. 31)

Q3 2024: Dick’s Sporting Goods, Inc. reported a net sales increase of 0.5% year over year to $3.1 billion during its fiscal third quarter ended Nov. 2. Lauren Hobart, the president and CEO at Dick’s Sporting Goods, touted the company’s success with its GameChanger app, which is marketed to coaches for scorekeeping and streaming at games. Hobart said Dick’s is currently forecasting $100 million in revenue from GameChanger for the year, calling it a “highly profitable software-as-a-subscription model.”

“This past quarter, for GameChanger, we had 5.5 million unique active users, which was a 21% increase over last year, and they’re averaging approximately 2 million active users in the app every single day,” Hobart said during the company’s earnings call.

The Home Depot, Inc. (No. 4)

Q3 2024: The Home Depot Inc. reported $40.22 billion in net sales for its fiscal third quarter ended Oct. 27, 2024. 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.

The home improvement retailer saw online sales grow 4% year over year, with nearly half of all online orders fulfilled through stores, said Billy Bastek, executive vice president of merchandising, during the company’s earnings call.

The Home Depot Inc. ranks No. 4 in the Top 1000 Database, Digital Commerce 360’s ranking of the largest online retailers in North America. It’s also the top-ranked retailer in the Top 1000’s Hardware & Home Improvement category. Digital Commerce 360 projects that Home Depot’s web sales in 2024 will reach $23.6 billion. That would be 4.5% growth over its 2023 online sales.

Kohl’s Corporation (No. 23)

Q3 2024: Kohl’s Corporation recorded a 8.8% fall year over year for net sales of $3.5 billion in its fiscal third quarter ended Nov. 2. Jill Timm, chief financial officer at Kohl’s, said digital sales outperformed in-store sales during the quarter, though both remained lower than in the quarter a year prior.

“Our third quarter results did not meet our expectations as sales remained soft in our apparel and footwear businesses,” said Tom Kingsbury, chief executive officer at Kohl’s. “Although we had a strong collective performance across our key growth areas, including Sephora, home decor, gifting, and impulse, and also benefited from the opening of Babies ‘R’ Us shops in 200 of our stores, these were unable to offset the declines in our core business.”

Kohl’s announced on Nov. 25, the day before it reported earnings, that Kingsbury would retire, effective Jan. 15, 2025. He will be replaced by industry veteran Ashley Buchanan.

Nordstrom, Inc. (No. 22)

Q3 2024: Nordstrom, Inc. reported net sales increased 4.6% year over year to $3.3 billion in its fiscal third quarter ended Nov. 2. In addition, the retailer noted in its earnings call that digital sales growth outpaced overall sales growth by more than a percentage point.

“We’re particularly encouraged that our online business sustained its momentum, with digital sales growth of over 6%,” said Erik Nordstrom, chief executive officer of Nordstrom, Inc. “Customers responded to newness in our selection of the brands that matter most to them, driving positive total company net sales growth for the fourth consecutive quarter.”

Nordstrom shared that online successes were particularly visible at Nordstrom Rack, which launched the option for buy online, pick up in store (BOPIS) at more than 100 locations during the most recent quarter.

“Rack digital sales growth in the third quarter was driven by an expanded online merchandise offering, as well as focused efforts to maintain high in-stock rates in our fastest selling items,” Nordstrom stated.

Target Corporation (No. 5)

Q3 2024: Target Corporation recorded a 0.9% increase in total sales year over year, reaching $25.2 billion in its fiscal third quarter ended Nov. 2.

Meanwhile, online sales were up 10.8% year over year as driven same-day delivery grew nearly 20%. Read more on Target’s ecommerce earnings here.

Walmart Inc. (No. 2)

Q3 2024: Walmart Inc. said its consolidated revenue grew 5.5% to $169.6 billion in its third fiscal quarter ended Oct. 31.

The Bentonville Arkansas-based retailer’s global ecommerce sales were up 27% globally for the same period. Read more on Walmart’s ecommerce earnings here.

Ecommerce earnings calendar

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

AutoZone: Dec. 10
Stitch Fix: Dec. 10

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