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

• Decker Brands saw net sales rise 22.1% in its first fiscal quarter of 2025.
• Tractor Supply offset a 0.5% drop in comparable store sales with help from its newest stores.

Albertsons (No. 24)

Q1 2024 earnings: Albertsons reported near-flat net sales growth year over year to $22.4 billion in its fiscal first quarter, which ended June 15. Meanwhile, digital sales rose 23% during the same period.

Read more on Albertsons’ earnings here.

Deckers Brands (No. 51)

Q1 2025 earnings: Deckers Brands said net sales increased 22.1% to $825.3 million in its fiscal first quarter, which ended June 30. Meanwhile, digital sales rose 23% year over year during the same period for the company, which owns the Hoka, Ugg and Teva footwear brands.

“From a regional standpoint, DTC growth was robust across international regions and within the U.S., which increased 31% and 21%, respectively,” said Stefano Caroti, chief commercial officer and incoming president and chief executive officer at Decker Brands, during the company’s earnings call. “Among international regions, growth was most meaningful in China and EMEA as both drove strong increases online and benefited from successful recent retail store openings.”

Read more on Deckers Brands earnings here.

Tractor Supply Co. (No. 93)

Q2 2024: Tractor Supply Co. announced that its net sales increased 1.5% to $4.25 billion during its fiscal second quarter ended June 29, 2024. The company attributed the growth to new store openings, which it said helped as comparable store sales declined 0.5% year over year.

“We are pleased with our second quarter EPS results that were in line with our outlook,” said Hal Lawton, president and chief executive officer at Tractor Supply. “My sincere appreciation goes out to our more than 50,000 Team Members for living our Mission and Values every day as we focus on taking care of our customers and each other.”

Read more on Tractor Supply earnings here.

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.

Birks Group Inc. (No. 1766)

FY 2024 earnings: The Birks Group announced that net sales increased 13.7% year over year to $185.3 million (CAD) in its 2024 fiscal year that ended June 29, ultimately leading to a net loss of $4.6 million (CAD). The jewelry retailer credited demand for watches and jewelry during the period and noted that it plans to invest in its website and ecommerce platform.

Read more on Birks Group’s earnings here.

Goodfood Market Corp. (No. 538)

Q3 2024 earnings: Goodfood Market Inc. said that net sales decreased 8.5% year over year to $38.6 million (CAD) in its third fiscal quarter of 2024 that ended June 1. Goodfood attributed the drop to a lower number of active customers, even as average order value increased.

The meal solutions company noted that it was optimizing prices, increasing its variety of meal kits and integrating grocery-product add-ons as it looks to improve sales.

“With our strengthened financial position, we enter the fourth quarter, which is typically marked by a seasonal slowdown in business activity as customers spend more time outside of their homes, with the opportunity to build additional momentum on the implementation of our intrinsic and external growth plan,” said Jonathan Ferrari, CEO at Goodfood.

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.

Johnson & Johnson (No. 358)

Q2 2024 earnings: Johnson & Johnson reported that net sales grew to $22.4 billion in its fiscal second quarter, which ended June 30. That’s up 4.3% year over year. The company’s earnings do not break out ecommerce sales. However, it did note offerings that boosted sales during the period.

“Johnson & Johnson’s second quarter performance reflects our relentless focus on advancing the next wave of medical innovation and resulted in strong sales and adjusted operational earnings per share growth,” said Joaquin Duato, chairman and chief executive officer at Johnson & Johnson. “With a robust pipeline, upcoming regulatory milestones for Rybrevant and Tremfya, the integration of Shockwave, and continued expansion of newly launched products, including Acuvue Oasys Max 1-Day contact lenses and our Varipulse platform, we have a strong foundation for near and long-term growth.”

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.

Winmark Corp. (No. 1567)

Q2 2024 earnings: Winmark Corp. recorded nearly flat growth (a 0.6% increase) year over year with $10.4 million in net income for its second fiscal quarter in 2024. Merchandise sales for the quarter fell 30.3% from the same quarter a year earlier to $925,500.

“Year-to-date growth in royalties resulted from higher overall store count and, to a lesser extent, increases in per unit performance,” said Brett D. Heffes, chair and chief executive officer at Winmark.

The company, whose resale-focused franchises include Plato’s Closet, Play It Again Sports and Music Go Round counted a total of 1,336 franchises operating at the end of the quarter.

Ecommerce earnings calendar

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

• Beyond, Inc.: July 30
• Proctor and Gamble: July 30
• Carvana Co.: July 31
• Adidas AG: July 31
• Steve Madden: July 31
• Amazon.com: Aug. 1

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Starting Aug. 1, Doren will lead all marketing efforts for the teen fashion footwear brand. Same-store sales have lagged at Journeys and Genesco brands widely. However, Genesco reported a modest uptick in ecommerce sales during the last quarter. Doren will report directly to Journeys Group president Andy Gray, a former Foot Locker executive who also joined the company in January.

In a LinkedIn post announcing her new role, Doren wrote, “As a mom of two teenagers, I’ve frequented Journeys for years and strongly believe in the value proposition they deliver.”

Journeys is the largest business unit of Genesco Inc., which ranks No. 169 in the Top 1000, Digital Commerce 360’s database of the largest North American online retailers. The Nashville-based company operates 1,320 retail stores, along with ecommerce sites, and it’s the parent company of other footwear brands including Schuh, Little Burgundy and Johnston & Murphy. In the Top 1000 Database, it falls under the Apparel & Accessories category.

Doren’s career prior to joining Journeys as CMO

Doren started at Levi’s in 1999 as a senior manager for website content and marketing. Over her 24-year tenure, she held various senior positions, most recently serving as vice president of Levi’s Americas Marketing, overseeing the U.S. and Canada, while also leading the Latin America region for eight years.

Doren led a 50-person team at Levi’s, handling creative development, channel marketing, and other initiatives. According to a Journeys news release, she developed strategies that increased consumer engagement, rejuvenated the women’s business and revived the brand’s appeal among youth.

“Stacy is an exceptional marketing leader with a resolute commitment to consumer-centric strategies,” Gray, Journeys president, said in a statement. “Her brand-building capabilities and strategic foresight make her the ideal partner in shaping Journeys’ future chapters.”

Before joining Journeys in January, Gray spent over two decades at Foot Locker. There, he held senior roles including global president of Foot Locker, Kids Foot Locker, Champs and Sidestep. Foot Locker ranks No. 68 in the Top 1000.

Journeys’ leadership team also includes chief operating officer Mike Sypert, who has managed daily operations for Journeys, Journeys Kidz and Little Burgundy since August. In February, Chris Santaella, a former Foot Locker executive, joined as the retailer’s executive vice president and chief merchandising officer.

Journeys Group’s importance to Genesco

Journeys represented 62% of Genesco’s net sales in fiscal 2023, according to Genesco.

For its fiscal first quarter ended May 4, Genesco reported a 5% drop in net sales to $457.6 million, down from $483.3 million a year ago.

Comparable ecommerce sales rose by 3%, accounting for 23% of retail sales, up from 21% last year.

Genesco ended the quarter with 75 fewer stores versus a year ago. The drop in first-quarter sales was attributed to the store closures and lower wholesale and in-store sales, though higher ecommerce sales helped mitigate the impact. The company closed 17 Journeys stores this quarter and is considering shutting up to 50 more by early next year.

In its quarterly earnings call, Genesco CEO Mimi Vaughn emphasized Journeys’ efforts to boost its brand presence. Those efforts applied both in-store and online. She said a visual website refresh is in the works to improve the brand’s digital experience, but she didn’t provide a launch date.

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Last December, the company launched Swag.Space as a “white-label” platform that lets promotional product distributors develop online product catalogs and manage production, inventory, orders, distribution and storage. Swag.Space runs on technology and infrastructure developed by Swag.com, the custom-product ecommerce platform Custom Ink acquired in 2021. Through its integration with the Shopify ecommerce platform, Swag.Space lets client distributors offer their customers “the ability to launch company stores.”

David Doctorow, recently named CEO of Custom Ink.

Now, the customized swag company wants to take its digital strategy to the next level with a new CEO steeped in ecommerce-growth experience.

The company has named David Doctorow, who most recently was the CEO of real estate company Realtor.com, as the top executive to succeed co-founder and CEO Marc Katz, who will remain as chairman of the board. Doctorow will take over the reins and join the board next month.

Marc Kattz, chairman, Custom Ink

“Leading Custom Ink and working with such great people has been an amazing 25-year experience,” Katz said in a statement announcing Doctorow’s appointment. “We’ve undertaken major changes since the pandemic to refocus on our digital roots, and now it’s time for a new CEO to lead us to new heights. David is a proven leader with an impressive track record building digital businesses.”

At Realtor.com, Doctorow was CEO between 2020 and 2023 and “led the business to record revenue, profit and customer satisfaction,” Custom Ink says in its statement. In addition, it notes that, prior to Realtor, Doctorow led growth in eBay’s customer acquisition and retention efforts as head of global growth and, as chief marketing and strategy officer of online travel services company Expedia, “helped double” sales and profits.

At Custom Ink, Doctorow says he sees “tremendous potential for further growth” as the personalized products company continues to develop its digital offerings.

Custom Ink is supported financially by Great Hill Partners, its primary growth equity backer.

Paul Demery is a Digital Commerce 360 contributing editor covering B2B digital commerce technology and strategy. paul@digitalcommerce360.com.

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This week, the denim brand detailed how it has improved its site experience. The company highlighted three key areas where it focused on boosting ecommerce growth:

• Revamped its rendering model to speed up page loads and improve SEO.
• Launched a new search solution to deliver more relevant results, helping consumers find and buy products faster.
• Redesigned site navigation to match customer expectations based on analytics and feedback.

“One of the company’s key strategies is to be DTC-first, not to be confused with DTC-only,” a Levi Strauss & Co. spokesperson told Digital Commerce 360 by email.

In its fiscal second quarter, DTC sales made up 47% of Levi’s total sales, and the company now believes DTC can account for more than half of its total net global revenues in the long term, with ecommerce as a key driver.

Levi Strauss & Co. is No. 162 in Digital Commerce 360’s Top 1000 ranking of the largest North American online retailers. The database categorizes Levi’s under Apparel & Accessories. Digital Commerce 360 projects Levi’s total ecommerce sales for 2024 to reach $576.75 million, up from $556.11 million in 2023.

Levi & Strauss Co. web sales by year

Levi’s website changes

Over the past year, Levi’s switched to a hybrid rendering model. That meant combining its server side and client side to speed up page loads and boost SEO. Its website now loads only necessary components, and a team updates the site twice a week instead of every three weeks, improving site speed by over 40% and app launch time by 50%.

The change is significant as more people shop online using their mobile phones. In Q4 2023, smartphones made up 78% of global retail site traffic and two-thirds of all online orders, according to a Red Stag Fulfillment report.

For search, Levi’s teamed up with a third-party vendor to launch a new solution. The company claims it was able to drive a 10% improvement in its search-to-product rate as a result. Levi’s website navigation was revamped to better match how customers shop, such as grouping products by gender first, then category. Highlighting key product features like rise, fabric stretch, and leg opening has also boosted ecommerce sales. Additionally, Levi’s introduced denim lifestyle images for women and dynamic “walk-on and walk-off” videos across its ecommerce channels, leading to more items being added to shopping carts.

“Consumers need to be able to easily and quickly navigate the site without any frustrating delays,” the company stated. “And in online shopping, when consumers can’t feel and touch the product, we must do what we can to bring those products to life and give our fans a better sense of how a product will look and fit.”

DTC’s role in driving profitability for Levi & Strauss

In Levi’s second-quarter earnings call, president and CEO Michelle Gass said the company is “laser-focused” on boosting productivity and profitability across its DTC business. She noted improvements in all store metrics, thanks to higher units per transaction, better conversion rates from new product launches, and more.

“Our U.S. DTC business was up 12%, led by our mainline stores, and AURs and mainline were up low single digits as consumers gravitate toward our full-price premium products,” she noted.

While inflation has made consumers cut back on non-essential spending, Levi’s highlighted its 170-year history, saying, “When times get tough, consumers shop with the brands they trust and love the most.”

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“At this time, after careful review, we have concluded that Arkhouse and Brigade’s proposal lacks certainty of financing and does not deliver compelling value, notwithstanding the significant time, resources, and information shared during this process,” Macy’s lead independent director Paul Varga said in a statement.

Arkhouse and Brigade did not respond to Digital Commerce 360’s requests for comment. Macy’s replied, stating it had no additional comments beyond the news release.

Macy’s ranks No. 16 in Digital Commerce 360’s Top 1000 Database of the largest North American e-retailers by online sales. Macy’s is also the second-largest Apparel & Accessories retailer in the database. Digital Commerce 360 projects Macy’s total web sales in 2024 will reach $7.30 billion.

Macy’s web sales by year

Arkhouse’s takeover attempt at Macy’s

Arkhouse and Brigade tried to buy out Macy’s for months. In December, the investor group offered $21 per share, or $5.8 billion, which the retailer rejected. The firms recently increased their bid to $24.80 per share, or $6.9 billion, up from $24 per share in March.

When Macy’s rejected Arkhouse and Brigade’s initial bid, it triggered a proxy battle that ended in April when the retailer added two new board members backed by the real estate investment firm. Macy’s also agreed to open its books for due diligence.

After stating that it had gone “well beyond what is customarily required,” Macy’s requested a definitive proposal by June 25. However, on June 26, Arkhouse and Brigade submitted a “check-in” letter offering $24.80 per share in cash. Macy’s said it had already deemed that offer “not compelling” and the accompanying financing papers were not sufficient.

Challenges department stores face

Arkhouse and Brigade’s bid focused on monetizing Macy’s real estate assets rather than revitalizing its retail operations. That potential fate opened the door to comparisons with other struggling department store names, such as Sears and Neiman Marcus, which recently reached a deal to be acquired by Hudson’s Bay Co.

“The truth is that whatever problems Macy’s has, they will not be solved by activist investors treating the business as an ATM and selling off real estate for short-term gain,” Neil Saunders, GlobalData managing director, wrote in a LinkedIn post.

Saunders told Digital Commerce 360 that ending the talks shows Macy’s strength, signaling that the bid isn’t in the company’s best interests and that management’s current plans offer better long-term value for investors.

Macy’s ongoing turnaround plan

In February, Macy’s unveiled its “A Bold New Chapter” strategy, which includes closing 150 underperforming stores through 2026. Macy’s also plans to open about 15 new Bloomingdale’s and 30 new Bluemercury luxury stores over the next three years.

CEO Tony Spring, who began in February, said the initiatives are starting to show results.

“While it remains early days, we are pleased that our initiatives have gained traction, reinforcing our belief that the Company can return to sustainable, profitable growth, accelerate free cash flow generation and unlock shareholder value,” Spring said in a written statement.

Most recent quarterly earnings from Macy’s

In its fiscal quarter ended May 4, Macy’s reported a 2.7% year-over-year decline in net sales to $4.8 billion and a 1.2% decrease in comparable sales, including online. Macy’s said it will provide updates on “A Bold New Chapter” in its second fiscal quarter earnings report next month.

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

This week’s ecommerce earnings takeaways

• Aritzia Inc. reported a 7.8% rise in net sales for its first fiscal quarter of 2025.
• Helen of Troy continues to deal with challenges, confronting a 12.2% decline in net sales in its fiscal first quarter.

Aritzia Inc. (No. 154)

Q1 2025 earnings: Aritzia Inc. recorded a year-over-year net sales increase of 7.8% to $498.6 million for its first fiscal quarter of 2025, which ended June 2. In addition, the luxury apparel retailer said its ecommerce net revenue increased 4.2% to $140.8 million for the same period, accounting for 28.2% of its net revenue.

The company has been investing in digital marketing and updated investors on its planned website relaunch for 2024.

“We expect the improved site to go live in the back half of this fiscal year,” Aritzia CEO Jennifer Wong told investors during the Q1 earnings call. “Other initiatives to drive digital include improving our online merchandising, optimizing our omni-channel capabilities, enhancing our international ecommerce site, and developing a mobile app.”

Bassett Furniture Industries Inc. (No. 409)

Q2 2024: Bassett Furniture Industries Inc. reported a 17.1% drop in net sales year over year to $83.4 million for its second fiscal quarter of 2024, which ended June 1. The decrease came as the company took an $8.5 million operating loss for the period and a restructuring plan that includes shuttering its Noa Home ecommerce business.

“Bassett Furniture has a long history of weathering economic cycles, such as the inflationary environment and slow housing market we’re experiencing in 2024 — factors that led to soft demand in our second quarter,” said Bassett Furniture CEO Robert H. Spilman in the retailer’s earnings announcement. “The business climate has remained difficult through the first six months of this year and may not improve in the near future.”

Helen of Troy Limited (No. 190)

Q1 2025 earnings: Helen of Troy Limited said that net sales declined 12.2% year over year to $416.8 million in its first fiscal quarter of 2025, which ended May 31. The housewares and home furnishings retailer also lowered its annual outlook as it proceeds with its Project Pegasus restructuring plan.

“Project Pegasus continues to provide us with fuel to fund our initiatives and organizational focus to capture opportunities and leverage our scale,” said Helen of Troy CEO Noel M. Geoffroy. “We also invested in new talent and next-level data, analytics and capabilities to improve our effectiveness and productivity across the enterprise.”

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.

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.

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.

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.”

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:

• Carvana Co.: July 31
• Adidas AG: July 31
• LVMH: July
• Amazon.com: Aug. 1

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Credendino’s appointment comes during a transitional year for the retailer as its CEO, Tony Spring, works on a turnaround plan. That plan has already faced challenges from investors. Most recently Macy’s faced a proxy fight that ended in new board members being appointed.

Macy’s ranks No. 16 in Digital Commerce 360’s Top 1000 Database. The Top 1000 ranks North America’s leading retailers by online sales. Macy’s is also the second-largest Apparel & Accessories retailer in the database.

Keith Credendino’s new role as Macy’s CIO

Incoming Macy’s CIO Keith Credendino | Image credit: Macy’s

Credendino will replace Laura Miller as CIO at Macy’s in its Corporate Strategy Group, effective Aug. 4. He will report directly to Adrian V. Mitchell, the chief operating officer and chief financial officer at Macy’s.

“As our new CIO, Keith will continue to simplify and modernize our technology stack as part of our company’s growth strategy, ‘A Bold New Chapter,'” Mitchell said. “There is still much work to be done and Tony Spring, our chairman and chief executive officer, our Board of Directors, and I are confident that with Keith’s authentic, collaborative, and results-oriented leadership style, he will help lead Macy’s, Inc. into the future as an even more agile company, responsive to today’s discerning consumer.”

In leading the group as CIO, Macy’s noted that Credendino will be focused on the ongoing transformation to a data-driven organization focused on modernizing systems, delivering efficiencies and improving the overall omnichannel customer experience.

Laura Miller’s retirement

As Miller retires from the CIO post, Macy’s called her “instrumental in modernizing technology systems, operations, and the company’s omnichannel digital offerings to enhance customer and colleague experiences.”

“The entire Macy’s, Inc. family wishes Laura well on her retirement and thanks her for the many accomplishments over her transformative tenure,” said Mitchell.

Miller has been at Macy’s since 2021. Prior to that, she served as CIO at InterContinental Hotels Group after holding leadership positions at First Data Corporation and TD Ameritrade.

Credendino’s background

Credendina arrived at Macy’s in 2022. Among his accomplishments so far, Macy’s lists customer experience improvements at Macy’s and Bloomingdale’s, as well as supporting the launch of the Macy’s online marketplace. In addition, he is credited with improving the macys.com and bloomingdales.com websites and the macys.com wedding registry.

His previous roles have included positions at the restaurant company Inspire Brands, The Home Depot, InterContinental Hotels Group and Cox Enterprises.

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

This week’s ecommerce earnings takeaways

• Nike Inc. saw a 10% drop in ecommerce sales.
• H&M Group reported a 3% rise year over year for its quarter as it refreshed its online store.

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.”

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.

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.

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.

Costco Wholesale Corp. (No. 7)

Q3 2024 earnings: Costco net sales grew 9.1% to $57.39 billion in its third fiscal quarter of 2024 ended May 12. During the same period, ecommerce sales grew 20.7%.

Read more on Costco ecommerce sales here.

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.

The Kroger Co. (No. 6)

Q1 2024 earnings: The Kroger Co. reported that net sales were flat year over year reaching $45.3 billion for its first fiscal quarter of 2024, which ended May 25. Meanwhile, digital sales were up 8% year over year during the quarter, said Todd Foley, interim chief financial officer at Kroger, during the grocer’s earnings call.

Read more on Kroger’s earnings here.

La-Z-Boy Inc. (No. 254)

Q4 2024 earnings: La-Z-Boy net sales decreased 1.4% year over year to $553.5 million for its fourth fiscal quarter of 2024, which ended April 27. The company frames its total written sales — down 3% year over year in the quarter for La-Z-Boy Furniture Galleries stores — as outperforming the overall furniture industry, which it said were down 8% for the same period. The company also noted challenges in online sales when discussing its Joybird brand.

“Turning to Joybird, written sales declined 14% in the quarter versus a year ago as the online furniture market continues to be challenged, consistent with the broader furniture industry,” said Melinda Whittington, the president and CEO of La-Z-Boy, during the company’s earnings call for the period.

Reitmans (Canada) Ltd. (No. 454)

Q1 2025 earnings: Reitmans net sales were flat year over year at 165.7 million Canadian dollars ($121.3 million) for its first fiscal quarter of 2025, which ended May 5. Ecommerce sales were down 9.2% year over year in the quarter for the apparel retailer, which saw in-store sales rise 3.4% during the same earnings period.

“Comparable sales, which include ecommerce net revenues, were down 4.6%, primarily due to decreased online traffic,” said Richard Wait, executive vice president, chief financial officer at Reitmans, during the quarter’s earnings call. “Sales of product through RCL Marketplace, which launched a little over a year ago, did not contribute significantly to the top line as we continued to develop partnerships and curate offerings. Retail store activity accounted for 75.4% of net revenues in Q1, while ecommerce made up the remaining 24.6%.”

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:

• Carvana Co.: July 17
• Adidas AG: July 31
• LVMH: July

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The post Ecommerce earnings recap: What you missed from H&M, Nike and more appeared first on Digital Commerce 360.

Whereas Q4 revenue decreased about 2% from the same period a year earlier, Nike full-year revenue reached a new high in its fiscal 2024.

In an earnings call with investors, chief financial officer Matthew Friend attributed the decline in Nike Digital sales to “softer traffic, higher promotions and lower sales of certain classic footwear franchises.”

Although Nike Digital has grown at about a 26% compound annual growth rate (CAGR) since the retailer’s fiscal 2019, Friend said, the company missed its targets in its fiscal Q4. Nike Digital sales “underperformed” in April and May, continuing into June, he noted. This comes as Nike continues “to drive retail sales growth at a high full-price realization,” Friend added.

Friend had said in Q3’s earnings call that Nike’s target has been “to achieve the 40% digital metric.” So far, Nike has not disclosed how far along it is toward hitting that share of sales through digital channels.

In the earnings call, president and CEO John Donahoe said Nike is “taking our challenges head on and we’re regaining our edge.”

Nike ranks No. 8 in the Top 1000, Digital Commerce 360’s database of the largest North American e-retailers by online sales. It’s also the highest-ranking Apparel/Accessories retailer in the Top 1000.

Total Nike revenue in fiscal 2024

For its full 2024 fiscal year, Nike revenue totaled $51.4 billion. That’s up 1% year over year from $51.2 billion. The full-year revenue growth comes despite a 2% year-over-year dip in Q4 Nike revenue, to $12.6 billion.

With the exception of the first COVID-19 pandemic year, 2020, Nike has grown its annual revenue in each year since 2011.

Total Nike revenue fell to about $12.61 billion in its Q4, which ended May 31, 2024. That’s down from about $12.83 billion in the year-ago period. This marks the fourth year-over-year drop in Nike revenue in a quarter since Q1 of the retailer’s fiscal 2019.

It’s the third such drop to happen in the retailer’s Q4 in that time frame — the first of which was at the onset of the COVID-19 pandemic in 2020. Moreover, Q4 2021 rebounded to outperform the same period in the two prior years.

The only non-Q4 drop in the past five years was Q1 FY21, though the drop was moderate (less than $100 million) compared to the Q4 FY20 drop of about $4 billion. That was the second quarter to have been affected by the pandemic.

Before Q4 this year, the last year-over-year drop in Nike revenue was in Q4 of its fiscal 2022.

Revenue from Nike’s namesake brand accounted for $12.1 billion of the company’s $12.6 billion total revenue across brands, which include the Jordan brand and Converse.

Nike Digital sales drop again in Q4

Nike Digital, encompassing global sales through the retailer’s website and mobile app, decreased 10% in Q4. That follows a 4% year-over-year decline in Q3 Nike Digital sales.

Similarly, Nike Direct revenue fell 8% year over year, to $5.1 billion. Nike Direct refers to the retailer’s direct-to-consumer sales, both in physical stores and online. On the opposite end, Nike wholesale revenue increased 5% year over year, to $7.1 billion, in Q4.

In North America, Nike Digital sales decreased 11% in Q4. Meanwhile, Nike store sales decreased 5% while wholesale grew 6% in the region.

In Europe, the Middle East and Africa (EMEA), Nike Digital sales declined 14% in Q4. Nike Digital sales also declined in Asia-Pacific and Latin America (APLA), down 12% while wholesale grew 9%. However, Nike Digital sales in greater China grew 8% in the quarter; wholesale grew 15% while in-store sales dropped 6%.

Nike outlook for fiscal 2025

Nike expects Q1 fiscal 2025 revenue to decline about 10%, Friend said. That includes lower Nike Digital growth, “especially in the first half of the year due to lower traffic on fewer launches.”

“This reflects more aggressive actions in managing our classic footwear franchises, continuing challenges on Nike Digital, muted wholesale order books with newness not yet at scale, a softer outlook in greater China, and a number of quarter-specific timing factors,” he said.

Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports. Here’s last quarter’s Nike report.

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The post Nike Digital sales drop in Q4 as retailer reaches highest-yet annual revenue appeared first on Digital Commerce 360.

Levi’s second-quarter net revenue of $1.44 billion fell shy of analyst expectations of $1.45 billion. Still, that marked an increase of 8% over the same period last year. The company noted that when adjusting for wholesale shipments related to its U.S. enterprise resource planning (ERP) implementation, net revenues showed 1% growth year over year — and 2% growth when calculated in constant currency.

Other highlights from Levi’s earnings report included:

• Levi’s reported net revenues in 2024 are expected to be up 1% to 3% year over year, and probably toward the upper end of that range.
• Cash and cash equivalents were $641 million, while total liquidity was approximately $1.4 billion.
• Total inventories decreased 7% on a dollar basis and 19% excluding the impact of modified terms with the majority of suppliers, which now results in the company taking ownership of inventory for goods brought into the Americas closer to the point of shipment rather than destination.

“The core of our business remains very healthy,” said Levi’s CEO Michelle Gass on the earnings call with shareholders. She specifically pointed to the strength of some of their legacy products like the 501 brand.

“Our original icon, the 501, continues to deliver impressive growth, up 16% in DTC, in Q2,” Gass said.

Levi Strauss ecommerce sales by year

Levi’s online sales in Q2

Levi’s has been undergoing a strategy that emphasizes more direct-to-consumer sales as opposed to its long-time strategy of its jeans being sold in retailers like Macy’s and T.J. Maxx.  The direct-to-consumer (DTC) strategy was a bright spot, seeing revenues increasing 11%. Its women’s DTC channels saw a 22% increase.

Revenues from ecommerce grew 19% on a reported and constant-currency basis, reflecting double-digit growth across the Levi’s and Beyond Yoga brands. DTC comprised 47% of total net revenues in the second quarter, down 1% from Q1.

Harmit Singh, chief financial and growth officer at Levi & Strauss, painted an especially bullish picture of the company’s ecommerce and digital channels on the conference call.

“Our ecommerce business is on fire,” Singh said, crediting the company’s internal teams with driving loyalty, driving higher conversion and fixing the fundamentals. The company’s Beyond Yoga brand has seen one of the biggest increases in digital sales.

Singh said that the DTC of the company’s business is growing in profitability.

“DTC continues to not only be our fastest-growing business, but is also seeing real improvements in profitability, with operating margins increasing more than 300 basis points during the quarter,” Singh stated. “This includes a significant improvement in ecommerce profitability.”

Potential signs of consumer caution

While Levi & Strauss leaders voiced general confidence in continued growth, inflation continues to be a drag on consumers.

Singh warned that consumers are “generally cautious” and aren’t spending a lot on discretionary items.

Levi’s is No. 162 in the Top 1000, Digital Commerce 360’s ranking of North America’s leading retailers by online sales, where we classify it in the Apparel & Accessories category. Digital Commerce 360 projects total ecommerce sales for Levi & Strauss in 2024 will be $576.75 million.

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The post Levi Strauss reports 19% ecommerce growth in Q2 earnings as overall sales miss expectations appeared first on Digital Commerce 360.