The latest ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 2000 and Europe databases. Lovesac’s net revenue fell 3.6% year over year during its fiscal third quarter as its CEO addressed tariff concerns with investors. In the U.K., Tesco shared that its group sales were up 4.0% in its most recent fiscal year.
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
- Lovesac net revenue decreased 3.6% year over year, though its CEO said it was prepared to weather tariffs.
- Tesco group sales grew 4.0% year over year in its 2024-2025 fiscal year, with U.K. online sales up 10.2%
Levi Strauss & Co. (No. 156)
Q1 2025: Levi Strauss & Co. said its net revenue was up 3.2% year over year to $1.5 billion in its first fiscal quarter ended March 2. Direct-to-consumer sales, which include ecommerce, made up 52% of its total global net revenue for the period.
Read more on Levi Strauss ecommerce sales here.
The Lovesac Company (No. 390)
Q4 2025: The Lovesac Company reported its net revenue declined 3.6% year over year to $241.5 million for its fiscal fourth quarter ended Feb. 2. Net revenue for the full fiscal year was up 7.9% from a year earlier to $3.0 billion. Online sales were down more sharply, falling 9.7% over the same period to $70.5 million.
For Lovesac’s full 2025 fiscal year, net sales fell 2.8% from the previous year to $680.6 million. Its digital sales for the year were down 1.7% to $196.3 million.
Recapping the fiscal year, Lovesac CEO Shawn Nelson touted supply chain and customer relationship management (CRM) investments.
“We strengthened the foundations of our business having reinvented our supply chain and dramatically enhanced our CRM tools to deepen and broaden the moat around our unique omnichannel business model,” said Nelson. “We believe these strategic actions and developments position us well to profitably scale our brand and business for years to come.”
Lovesac is not alone as an online furniture retailer facing tariff challenges. However, Nelson stated during Lovesac’s earnings call that it has “a very healthy balance sheet, which gives us substantial flexibility to weather tariff distractions, accelerate growth and enhance returns on capital for years to come.”
“We have made significant progress in recent years to diversify our countries of origin and establish redundancy of each product across multiple countries in order to have options,” Nelson said. “Prior to the recent news, our country of origin estimates for fiscal ’26 were Vietnam, about 50%, Malaysia, about 28%, China down to 13%, and Indonesia about 6%.”
Nelson assessed that Lovesac has “numerous ways to structurally manage through various tariff scenarios” but needs “to be careful not to implement these in a knee-jerk manner that could confuse our customers and damage the brand.”
Tesco Plc (No. 10 in Europe database)
FY 2024-2025: Tesco Plc recorded an increase in group sales of 4.0% year over year to $84.0 billion (£63.6 billion) in its full fiscal 2024-2025 ended Feb. 22. The company recorded a 10.2% increase year over year in online sales for its UK business, which it attributed to growth in orders per week.
“We have invested in bringing great prices to our customers throughout the year, and continued to innovate with over 1,600 new or improved products including 400 new Finest lines, where overall sales grew 15%,” said Ken Murphy, chief executive at Tesco. “We are also making significant progress on our long-term growth opportunities, further enhancing our digital capabilities with increased personalization, further improvements to our online experience and an expanded retail media offering.”
In addition, Tesco shared that Tesco Marketplace, which launched in 2024, has attracted more than 400,000 third-party products in its homeware, furniture and electronics categories.
Other recent ecommerce earnings results
Alibaba Group Holding Limited
Q3 2025: Alibaba Group Holding Limited recorded a year-over-year revenue increase of 7.6% to $38.4 billion in its fiscal third quarter. Revenue at Alibaba’s international B2B ecommerce segment, Alibaba International Digital Commerce Group (AIDC), was up 32% over the same period.
Read more on Alibaba’s ecommerce earnings here.
Amazon.com, Inc. (No. 1)
Q4 2024: Amazon, Inc. reported Q4 sales increased 10.5% year over year to reach $187.8 billion in its fiscal fourth quarter that ended Dec. 31. Of those sales, $115.6 billion came from North America.
Read more on Amazon’s ecommerce earnings here.
Guess, Inc. (No. 182)
Q4 2025: Guess, Inc. recorded a net revenue increase of 4.6% year over year to $932.3 million for its fiscal fourth quarter ended Feb. 1. Net revenue for the full fiscal year was up 7.9% from a year earlier to $3.0 billion.
During the apparel brand and retailer’s earnings call, CEO Carlos Alberini said he expected Guess to increase its operating profit by $30 million in its new fiscal year. He pointed to direct-to-consumer sales as an opportunity.
“We have great store locations in key markets and our sales productivity is below the benchmark set by best-in-class operators in the same malls or commercial areas,” he noted. “Similarly, our ecommerce penetration relative to our total direct-to-consumer business is also lower than for the best online performers.”
Online, he assessed that improving engagement would be a priority.
“In North America, in particular, we are focused on improving customer engagement and traffic to our stores and online,” said Alberini. “We know that 80% of the customers visiting stores perform extensive research online prior to their visits, so having a meaningful presence in social media is critical to influence customer choice and behavior.”
In addressing tariffs, Alberini said he expected to see an impact on Guess. However, he outlined some ways the company could remain insulated.
“Roughly 75% of our business is conducted outside of the U.S., and therefore, not subject to increased tariffs,” he explained. “Now, with respect to the remaining 25%, our estimate of the cost of the products that we directly produce and distribute in the U.S. is roughly $200 million. About one-third of this total relates to rag & bone, which attracts a more affluent customer, which gives us greater flexibility and pricing power.”
The Home Depot, Inc. (No. 4)
Q4 2024: The Home Depot, Inc. said net sales grew 14.1% year over year in its fiscal Q4 ended Feb. 2, to reach $39.7 billion. 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. Full-year 2024 results, which the Hardware & Home Improvement retailer also reported, were up 4.5% year over year to $159.5 billion.
Read more on Home Depot’s ecommerce earnings here.
RH (No. 94)
Q4 2024: RH (formerly Restoration Hardware) reported a 10.0% increase year over year with net revenue of $812.4 million for its fiscal fourth quarter ended Feb. 1. In addition, net revenues for RH’s full 2024 fiscal year grew 5.0% year over year to $3.18 billion. Gary Friedman, the CEO and chairman of the board at RH, noted the difficulties currently faced by home furnishings retailers in a letter to shareholders. There, he framed RH’s results as strong despite the current economic environment and new tariffs.
“While we expect a higher risk business environment this year due to the uncertainty caused by tariffs, market volatility and inflation risk, we believe it’s important to separate the signal from the noise,” said Friedman. “The fact is, we’ve been operating in the worst housing market in almost 50 years.”
Friedman was caught off guard during RH’s earnings call on April 2, which coincided with news of the latest tariffs in the U.S. being imposed by President Donald Trump.
“This move is quite stunning,” he stated. “It’s going to force everyone to just play a different game.”
Target Corporation (No. 5)
Q4 2024: Target Corporation reported a 3.1% decline in net sales year over year. That’s down to $30.9 billion in its fiscal fourth quarter ended Feb. 1. That retailer’s digital comparable sales grew 8.7% in its Q4 as comparable sales overall rose 1.5% from a year prior. For the full year, net sales decreased 0.1%.
“Results were led by strong performance in Beauty, Apparel, Entertainment, Sporting Goods and Toys,” said Brian Cornell, chair and chief executive officer at Target, in an earnings release. “As we look ahead, our continued investments in digital capabilities, stores and supply chain — combined with a focus on newness, value, speed and reliability — will further differentiate our one-of-a-kind physical and digital shopping experience.”
Read more on Target’s ecommerce earnings here.
Walmart, Inc. (No. 2)
Q4 2025: Walmart, Inc.’s revenue grew 4.1% year over year to $180.6 billion in its fiscal Q4 ended Jan. 31. That’s a 4.1% increase over the same period in its fiscal 2024. During the period, online sales accounted for 18% of total sales for the Mass Merchant.
Read more on Walmart’s ecommerce earnings here.
Ecommerce earnings calendar
Here’s when other ecommerce earnings are scheduled to report this quarter:
- Albertsons: April 15
- Beyond: April 28
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