New earnings results are out from retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America. Two retailers, which would have previously reported results from their past quarters, did not do so. Conn’s Inc. and Indigo Books & Music Inc. both had different stories behind those absent filings. Meanwhile, MillerKnoll Inc. announced decreases in net sales for its most recent fiscal quarter and fiscal year, illustrating a difficult environment right now for furniture retailers. Read more ecommerce earnings coverage here.

Parentheses indicate the merchant’s ranking in the Top 1000, unless otherwise stated.

This week’s ecommerce earnings takeaways

• MillerKnoll Inc. reported an 11.2% drop in net sales for its 2024 fiscal year from fiscal 2023.
• Conn’s Inc. did not report earnings as scheduled for its fiscal first quarter of 2024, as it is reportedly exploring bankruptcy.

Conn’s Inc. (No. 568)

Q1 2024 earnings: Conn’s, Inc. announced on June 26 that it received a delinquency notification from Nasdaq regarding its failure to file Form 10-Q for the results from its first fiscal quarter of 2024, which ended April 30. Amid filing delays, the furniture retailer was seeking refinancing and considering bankruptcy, Bloomberg reported July 1.

Indigo Books & Music Inc. (No. 416)

No longer public: Toronto-based retail Indigo Books & Music Inc. went private, resulting in the company being delisted from the Toronto Stock Exchange on June 4. It did not report Q4 and fiscal 2024 results.

MillerKnoll Inc. (No. 211)

Q4 2024 earnings: MillerKnoll Inc. reported that net sales fell 7.1% year over year to $888.9 million in its fourth fiscal quarter of 2024, which ended June 1. The furniture company, known for its Herman Miller and Knoll brands, also reported that sales for its full fiscal 2024 were down 11.2% to $3.6 billion from a year earlier.

Results accounted for the closure of MillerKnoll’s Hay ecommerce channel in North America, as well as the shuttering of its Fully business.

“Turning to retail, we delivered organic order growth of 1% year over year despite the tough macroeconomic conditions our industry still faces,” MillerKnoll CEO Andi Owen said during the company’s earnings call. “We’re continuing to do the work to drive orders in the short term while optimizing our retail engine for significant long-term sales growth.”

Other recent ecommerce earnings results

Alibaba Group Holding Limited

Q4 2024: Alibaba said it grew revenue 7% year over year in its fiscal fourth quarter ended March 31, 2024. Meanwhile, net income decreased 96% compared to the prior Q4.

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)

Q1 2024 earnings: Amazon net sales increased 13% to $143.3 billion in its fiscal first quarter. Meanwhile, 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.

H&M Group (No. 14 in Europe database)

Q2 2024 earnings: H&M Group said net sales were up 3% to $5.6 billion (59.6 billion Swedish crowns) in its second fiscal quarter of 2024, which ended May 31. The apparel retailer also noted that 30% of its sales were online during the first half of its current fiscal year.

“During the spring, we have successfully tested an updated online store that we are launching in our larger markets during the autumn,” H&M CEO Daniel Ervér said in the earnings announcement. “The new digital experience will give our customers more inspiration, clearer recommendations on how our products can be styled and which fit is right for them.”

The Home Depot Inc. (No. 4)

Q1 2024: Home Depot reported that sales declined 2.3% in its fiscal first quarter of 2024 ended April 28 due to challenges in the broader economy. B2B and Pro sales were equally impacted, while online sales grew.

Levi & Strauss Inc. (No. 162)

Q2 2024 earnings: Levi Strauss & Co. reported an increase in net sales of 8% to $$1.4 billion for its second fiscal quarter of 2024, which ended May 26. The apparel retailer also said ecommerce revenue was up 19% year over year on a reported and constant-currency basis for the quarter.

Read more on Levi’s earnings here.

Nike Inc. (No. 8)

Q4 2024 earnings: Nike Inc. net sales dropped 2% to $12.6 billion in its fourth fiscal quarter of 2024, which ended May 31. During the same period, Nike Digital sales fell 10% year over year.

Read more on Nike’s earnings here.

Target Corp. (No. 5)

Q 1 2024: Target reported that total revenue declined 3.1%. That’s down to $24.5 billion in the first quarter of its fiscal 2024 ended May 4. However, online sales did increase slightly. Declines in discretionary categories were partially offset by continuing growth in the beauty category.

Read more on Target’s earnings results here.

Walmart Inc. (No. 2)

Q1 2025: Walmart grew U.S. online sales 22% for its fiscal 2025 first quarter ended April 30, 2024. Consolidated revenue grew 6.0% to $161.5 billion in Q1.

Read more on Walmart’s earnings here.

Ecommerce earnings calendar

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

• Helen of Troy Limited: July 9
• Carvana Co.: July 17
• Adidas AG: July 31
• LVMH: July

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