New earnings results are out from retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America. Their results offer insights into where ecommerce is profitable and how growth statistics are trending. Aritzia, Peloton and 1-800-Flowers were among the latest to report, with pressure on flower sales from low-income consumers taking a hit again. 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
- Peloton is still struggling to keep and grow its customer count, with revenue falling. Now, it’s trying a leadership change and cost reduction plan in an attempt to turn things around.
- Aritzia’s leadership remains highly optimistic about ecommerce potential, which currently makes up just under 40% of revenue.
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).
Read more on Amazon’s earnings results here.
Aritzia, Inc. (No. 154)
Q4 2024 earnings: Aritzia reported that net revenue increased 7% to $682.0 million in its fiscal fourth quarter ended March 3, while comparable sales declined 3%. Retail net revenue increased 14.7%. Meanwhile, ecommerce revenue declined 3.2% to comprise 38.9% of total revenue. Aritzia is investing in updated technology for its website and plans to improve its omnichannel capacity.
“The tremendous opportunity we see in ecommerce is far greater than our recent performance, but we also recognize we’re coming off three years of unprecedented growth, delivering a four year ecommerce net revenue behavior of 34%,” CEO Jennifer Wong told investors.
The Estee Lauder Companies, Inc. (No. 41)
Q2 2024 earnings: Estee Lauder reported net sales grew 5% to $3.94 billion in its second fiscal quarter ended March 31. Skin care made up the largest portion of sales, accounting for $2.06 billion in the quarter. That was an increase of 8% from $1.92 billion in the year-ago period. Makeup sales also grew, up 3% year over year to $1.14 billion. Fragrance sales remained nearly flat at $575 million. Meanwhile, hair care sales declined 3% to $143 million.
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.
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.
Peloton Interactive, Inc. (No. 49)
Q3 2024 earnings: Peloton announced that CEO and president Barry McCarthy would step down, effective immediately. While the company looks for a new CEO, board members Karen Boone and Bruzzo will serve as co-interim CEOs. Peloton revenue declined 3% in its fiscal quarter ended March 31, to $717.7 million. The retailer introduced a cost-reduction plan intended to save $200 million in expenses per year.
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.
1-800-Flowers.com Inc. (No. 50)
Q3 2024 earnings: The flower retailer said its revenue declined 9.1% to $379.4 million in its third quarter of fiscal 2024 ended March 31. It also recorded a net loss of $16.9 million. That includes severance payments from layoffs during the quarter as part of a cost-saving initiative, the retailer said. However, ecommerce revenue trends are improving quarter to quarter, 1-800-Flowers said.
Higher-income customers continued purchasing flowers and gift baskets in the quarter, while lower-income customers pulled back, driving up average order value. In response, 1-800-Flowers is introducing more products at lower price points, it said.
Other recent ecommerce earnings results
Adidas AG
Q1 2024 earnings: Adidas reported preliminary results for its first quarter 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.
Avery Dennison Corp. (No. 319)
Q1 2024 earnings: Avery Dennison said net sales grew 4% to $2.2 billion in the first quarter ended March 30.
“We are off to a strong start to the year. In the first quarter we delivered significant earnings growth, driven by higher volume and productivity gains,” president and CEO Deon Stander said in a written statement. “Materials Group delivered significant volume growth and margin expansion, as downstream inventory destocking subsided and volumes continued to normalize. Solutions Group delivered strong top-line growth, driven by high-value categories, despite apparel imports continuing to be below demand.”
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.
Columbia Sportswear Co. (No. 157)
Q1 2024 earnings: Columbia reported net sales declined 6% to $770.0 million in the first quarter ended March 31. Despite the decline, that result exceeded expectations, CEO Tim Boyle said. Direct-to-consumer in-store sales grew year over year, while ecommerce sales declined. That was largely due to promotional activity in 2023 inflating ecommerce sales numbers, he said. Specifically, U.S. DTC sales declined by “mid-teens percent,” Boyle said.
“The overall e-commerce environment remains challenging,” he added.
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.
Harley-Davidson, Inc. (No. 426)
Q1 2024 earnings: Harley-Davidson said revenue declined 3% to $1.73 billion in the first quarter ended March 31. Global motorcycle shipments decreased 7% year over year in the first quarter, in line with the auto company’s expectations, it said. Accordingly, wholesale shipments declined and sales prices were lower, leading to declining revenue. Revenue grew 12% for the financial services side of the business, despite higher-interest expenses, it said.
Home Depot (No. 4)
Q4 2023 results: 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.
Keurig Dr. Pepper Inc. (No. 102)
Q1 2024 earnings: Keurig Dr. Pepper reported that net sales increased 3.4% to $3.47 billion in the first quarter ended March 31. Keurig sales continued to grow among higher-income consumers, while lower- and middle-income consumers are more pressured, the retailer said. Ready-to-drink products represent an area where it can continue growing, it said.
The beverage company also announced incoming CEO Tim Cofer took over the role on April 26 after starting the CEO succession process in September 2023.
LVMH
Q1 2024 results: 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.
O’Reilly Automotive, Inc. (No. 137)
Q1 2024 earnings: O’Reilly announced that sales grew 7% to $3.98 billion in the first quarter ended March 31. Same-store sales also increased 3.4%, on top of a 10.8% increase in Q1 2023, the retailer said. O’Reilly said the state of the economy plays to its advantage.
“In situations of heightened economic pressures, we believe consumers will continue to prioritize investing to maintain their vehicles, particularly given the significant cost and monthly payment burden of a new or replacement vehicle,” CEO Brad Beckham told investors. “We believe the composition of our sales results support this view of the consumer in the current environment.”
Procter & Gamble Co. (No. 512)
Q3 2024 earnings: Procter & Gamble reported net sales increased 1% to $20.2 billion in its fiscal 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)
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.
Walmart (No. 2)
Q4 2024 results: 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.
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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