New earnings results are out from retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America. Their results show online sales gains, as well as the role digital efforts are expected to play in turnaround efforts. GameStop Corp., Lululemon Athletica, and Big Lots were among the latest to share results. Here’s the ecommerce earnings summary you need to know for this quarter. 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
- Lululemon posted a 10.4% increase in net sales for the quarter, with digital sales accounting for 41% of revenue.
- GameStop shared earnings earlier than expected, detailing a 28.7% decrease in net sales from a year prior.
Bark, Inc. (No. 201)
Q4 2024 earnings: Bark reported a 3.6% year-over-year decrease in revenue to $121.5 million for its first fiscal quarter of 2024, which ended March 31. It also recorded $490.2 million in revenue for its 2023 fiscal year, which was down 8.4% from the previous year.
Read more about Bark’s earnings here.
Bath & Body Works, Inc. (No. 62)
Q1 2024 earnings: Bath & Body Works said it saw a 0.9% year-over-year decrease in net sales, which totaled $1.4 billion during its first fiscal quarter of 2024 ended May 4.
Gina Boswell, CEO at Bath & Body Words, shared during its June 4 conference call that “there has been and continues to be significant work required to bring the company’s technology systems to where we need them to be for a leading omnichannel retail business of our size.” Looking ahead, she expects to be able to share more about these efforts later in 2024.
“We remain focused on investing in the foundational tools and systems need to support future growth, and have been engaging with world-class partners to do so,” Boswell said. “We continue to evolve the digital experience for our customers, and we look forward to sharing big wins from these efforts later in the year.”
Big Lots, Inc. (No. 237)
Q1 2024 earnings: Big Lots reported a 10.2% decrease in net sales year over year to $1.0 billion for its first fiscal quarter of 2024, which ended May 4. The company cited a “challenging consumer environment” as it announced a $205.0 million loss for the period.
The retailer is in the middle of a turnaround effort. It cited improved online promotions and experience as priorities as it looks to change course.
“We’re continuing to enhance the online experience and showcasing extreme bargain deals through the weekly ad, big bargains and big buyout sections, heavily featured on the site,” said Bruce Thorn, president and CEO at Big Lots, during the company’s June 6 earnings call. “We remain focused on influencing her home shopping journey through enabling customers to browse more products online and now offer a coming-soon preview, in-store inventory and have started the ability to preorder for core big-ticket items in furniture and seasonal at the end of Q2.”
GameStop Corp. (No. 35)
Q1 2024 earnings: GameStop said its net sales were down 28.7% year over year to $881.8 million for its first fiscal quarter of 2024 that ended May 4. The same period included a net loss of $32.3 million, which was smaller than its loss of $50.5 million a year earlier.
The company did not hold an earnings call after announcing earnings days earlier than previously scheduled. In addition, it shared that it would sell 75 million shares, following the sale of 45 million shares announced in May. That initial sale brought in about $933.4 million, Reuters reported. GameStop returned to the news spotlight ahead of its earnings release as meme-stock influencer and online streamer Keith Gill, who goes by the name “Roaring Kitty,” began sharing his recent trading activity publicly.
Lululemon Athletica, Inc. (No. 25)
Q1 2024 earnings: Lululemon Athletica announced net sales increased 10.4% to $2.2 billion in its first fiscal quarter ended April 28.
“In the first quarter, we saw strong momentum in our international markets, demonstrating how our brand continues to resonate around the world,” said Calvin McDonald, chief executive officer at Lululemon. “Guests responded well to our product innovations across categories, and we are pleased by the progress we are making to optimize our U.S. product assortment.”
During the company’s June 5 earnings call, Meghan Frank, its chief financial officer, noted that Lululemon ecommerce sales were up significantly, contributing to the quarter’s results.
“In our digital channel, revenue increased 8% and contributed $906 million of top line or 41% of total revenue,” Frank stated.
Other recent ecommerce earnings results
Abercrombie & Fitch Co. (No. 48)
Q1 2024 earnings: Abercrombie & Fitch reported net sales increased 22% to $1.02 billion during its first fiscal quarter of 2024 ended May 4, compared with the same period a year prior.
“We saw improved traffic trends across both stores and digital channels, which helped show teen customers the changes we have made to the assortment,” said Fran Horowitz, CEO at Abercrombie & Fitch, discussing its Hollister stores during a company earnings call. The company credited about 60% of Abercrombie brands’ sales to digital channels in 2023, with approximately 30% of its Hollister brand’s sales coming through digital channels.
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, 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.
American Eagle Outfitters Inc. (No. 40)
Q1 2024 earnings: American Eagle Outfitters recorded $1.14 billion in net sales for its first fiscal quarter of 2024 ended May 4, up 6% from a year prior. That percentage increase set a new first-quarter record for American Eagle. While in-store revenue rose 4% for the period, digital revenue grew 12%.
Best Buy (No. 8)
Q1 2025 earnings: Best Buy’s net sales of $13.41 billion were down 0.9% year over year in its first fiscal quarter of 2025 ended May 4. In the same period, online sales dropped 6.1%.
Read more on Best Buy’s earnings results here.
Costco Wholesale Corp. (No. 6)
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.
Dick’s Sporting Goods (No. 31)
Q1 2024 earnings: Dick’s Sporting Goods said net sales were up 6.22% year over year to $3.02 billion in its first fiscal quarter of 2024 ended May 4. The company raised its full-year guidance, noting that customers were spending more on apparel, athletic gear and sneakers.
Foot Locker (No. 59)
Q1 2024 earnings: Foot Locker reported net sales dropped 2.8% to $1.87 billion from a year earlier in its first fiscal quarter of 2024 ended May 4. The company is working on an ongoing turnaround plan, which CEO Mary Dillon said included “strengthening our brand partnerships, enhancing customer engagement through digital and loyalty investments.”
The Gap Inc. (No. 20)
Q1 2024 earnings: The Gap raised its guidance for the full year, announcing a 3.4% year-over-year increase in net sales of $3.4 billion for its first fiscal quarter ended on May 4. The quarter marked the first time during CEO Richard Dickson’s current campaign to turn the company around that its Athleta, Banana Republic, Gap and Old Navy brands all posted positive comparable sales increases. Dickson took over the chief executive role in August 2023.
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.
Kohl’s Corp. (No. 23)
Q1 2024 earnings: Kohl’s net sales fell 5.3% to $3.18 billion for its first fiscal quarter ended on May 4. The retailer blamed weather and excess inventory as it posted a net loss of $27 million, surprising analysts.
Nordstrom Inc. (No. 22)
Q1 2024 earnings: Nordstrom net sales increased 5.1% year over year to $3.22 billion during the company’s first fiscal quarter of 2024 ended May 4. The retailer shrank its net loss to $39 million from $205 million a year earlier as digital sales fell 0.2% during the same period. Digital sales accounted for 34% of Nordstrom’s total sales for the quarter, the company reported. It opened nine new stores in the U.S. in the first quarter, with plans to open 18 more.
Salesforce
Q1 2025 earnings: Salesforce grew revenue 11% year over year to $9.13 billion in its first fiscal quarter of 2025 ended April 30. However, the company missed expectations, with revenue from its Professional Services and Other category down 9.4% in the quarter at $548 million.
Read more about Salesforce revenue 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.
Ulta Beauty (No. 39)
Q1 2024 earnings: Ulta Beauty net sales rose 3.4% year over year to hit $2.73 billion in its first fiscal quarter of 2024 ended May 4. CEO Dave Kimbell said Ulta “successfully completed the final phase of our digital store transition” during the quarter “and are on track to decommission the legacy platform in the second quarter.” In addition, following the announcement of Ulta’s expanded partnership with DoorDash, Kimbell said Ulta plans to “introduce new digital buying guides that amplify search engine optimization while providing guests with educational content, beauty tips and product recommendations.”
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:
- Lovesac Co.: June 13
- Signet Jewelers Ltd.: June 13
- La-Z-Boy Inc.: June 18
Do you rank in our databases?
Submit your data and we’ll see where you fit in our next ranking update.
Sign up
Stay on top of the latest developments in the ecommerce industry. Sign up for a complimentary subscription to Digital Commerce 360 Retail News. Follow us on LinkedIn, Twitter and Facebook. Be the first to know when Digital Commerce 360 publishes news content.