The latest ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 1000 and Europe databases. The past week’s top news came from Costco Wholesale Corp. Costco reported a 1% sales increase for its fiscal fourth quarter. Meanwhile, H&M Group reported a 3.1% drop in net sales for its fiscal third quarter. In addition, it shared that 30% of sales during its first three quarters came from online channels. Read more ecommerce earnings coverage here.

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

• Costco Wholesale Corp.’s comparable sales rose 5.4% year over year in Q4, with ecommerce showing strong performance as same-store online sales grew 18.9% for the quarter and 16.1% for the full year.
• H&M Group reported a 3.1% year-over-year decline in net sales to $5.84 billion for its fiscal Q3 ended Aug. 31, with online channels making up 30% of sales in the first nine months.
• Stitch Fix reported a 12.4% year-over-year revenue drop to $319.6 million in Q4 as it targets revenue growth by fiscal 2026.

AutoZone, Inc. (No. 287)

Q4 2024: AutoZone, Inc. reported $6.21 billion in net sales for its fiscal fourth quarter ended Aug. 31, a 9% increase year over year. Same-store sales grew 0.7%, with domestic same-store sales up 0.2% and international same-store sales jumping 4.9%. AutoZone did not provide specific online sales figures.

During the earnings call, CEO Phil Daniele highlighted its domestic commercial business, which grew 4.5% during the quarter. Full-year sales reached $18.5 billion, up 5.9% from the previous year, with same-store sales rising 2.1% overall, including a 0.4% increase domestically and a 16.1% rise internationally.

AutoZone added 117 new stores in Q4, including 68 in the U.S., 31 in Mexico, and 18 in Brazil, bringing the fiscal-year total to 213 net new stores and a global footprint of 7,353 stores, including 921 international locations. Looking forward, the company plans to accelerate store openings, particularly focusing on hubs and mega-hubs. Daniele noted that 13% of AutoZone’s stores are now outside the U.S., with a goal to open about 200 new international stores annually by 2028.

“For our first quarter of FY ’25, we expect both DIY and commercial sales trends to modestly improve,” Daniele said. “We expect better sales performance in Q2 and the Q3 timeframes.”

Costco Wholesale Corporation (No. 7)

Q4 2024: Costco Wholesale Corp.’s net sales rose 1% year over year to $78.2 billion in its fiscal fourth quarter that ended Sept. 1, up from $77.4 billion in the same quarter last year.

Ecommerce performance was particularly strong, with same-store online sales up 18.9% for the quarter and 16.1% for the full year.

Read more on Costco’s earnings here.

H&M Group (No. 13 in Europe database)

Q3 2024: H&M Group reported a 3.1% drop in net sales to $5.84 billion (59.01 billion Swedish crowns) for its fiscal third quarter ended Aug. 31. That was down from $6.02 billion (60.9 billion Swedish crowns) a year earlier. Online channels accounted for 30% of sales during the first nine months, though specific figures weren’t disclosed.

Operating profit fell to $347.8 million (3.51 billion Swedish crowns), from $469.7 million (4.74 billion Swedish crowns) in the same period last year.

The retailer is ramping up investments in both physical and digital stores, with 250 locations being refurbished in 2024. In September, H&M launched several initiatives, including store upgrades, its autumn collection accompanied by brand-building events, and a new digital experience.

“Expansion is taking place with a focus on increased omnichannel sales,” the company stated in its earnings report. “Customers want to be able to shop and be inspired where, when and how they choose — in the stores, on the brands’ own websites, on digital marketplaces and on social media.”

Early in Q4, H&M expanded its online presence by launching on Ajio.com in India and Trendyol.com in Turkey. It plans to open digital stores on Douyin and Pinduoduo, two of China’s largest ecommerce platforms, later this fall.

Micron Technology, Inc. (No. 392)

Q4 2024: Micron Technology, Inc. reported $7.75 billion in revenue for its fiscal fourth quarter ended Aug. 29, a 93% surge compared to $4.01 billion in the same period last year. The growth was fueled by strong demand for its dynamic random-access memory (DRAM) products used in data centers, smartphones, and PCs, driven by the rise of AI technologies. DRAM revenue for the quarter reached $5.3 billion, also up 93% year-over-year.

Micron did not disclose specific online sales figures but emphasized its strategic investments in technology and infrastructure to support AI-driven growth. For the full fiscal year 2024, Micron generated $25.11 billion in revenue, up 62% from $15.54 billion the prior year, with DRAM sales contributing $17.6 billion, a 60% increase.

CEO Sanjay Mehrotra told investors on the earnings call that Micron anticipates broader demand drivers in 2025, alongside continued strong demand in data centers.

“We are entering fiscal 2025 with the strongest competitive positioning in Micron’s history,” Mehrotra said.

Looking ahead, Micron projects first-quarter fiscal 2025 revenue of $8.7 billion, plus or minus $200 million, with a focus on achieving record revenue and improved profitability throughout the year.

Scholastic Corporation (No. 100)

Q1 2025: Scholastic Corp. reported a 4% year-over-year revenue increase for its fiscal first quarter that ended Aug. 31, reaching $237.2 million. The results were driven by early gains from its acquisition of 9 Story Media Group, a children’s content producer.

The company did not disclose specific online sales figures. Scholastic’s operating loss improved by 11%, reducing to $88.5 million, which included $2.9 million in one-time charges.

During the earnings call, CEO Peter Warwick noted that the first and third quarters typically see losses due to school breaks. He emphasized Scholastic’s continued investment in its children’s books and education businesses, along with its broader strategy to grow as a global children’s media company.

“We continue to target modest top-line and bottom-line growth, reflecting the partial year contribution of 9 Story Media Group,” Warwick said. “We look forward to an important year ahead as we execute on our plan and advance long-term growth initiatives.”

Stitch Fix, Inc. (No. 56)

Q4 2024: Stitch Fix, Inc. reported a 12.4% drop in revenue for its fiscal fourth quarter that finished Aug. 3, with sales reaching $319.6 million, down from $364.7 million the previous year. The company posted a net loss of $36.5 million, widening from a $28.7 million loss in the same period last year.

For the full fiscal year, revenue declined 16% to $1.34 billion, while active clients fell by 19.6%, ending the quarter at 2.51 million.

Over the past year, the online personal styling service has undergone major executive changes and workforce reductions as part of its effort to refine its direct-to-consumer model. CEO Matt Baer, who took over in June 2023, described the company’s ongoing transformation during the fourth-quarter earnings call.

A “rationalization phase” over the past year focused on streamlining operations. Key moves included exiting the U.K. market, closing two fulfillment centers, and reducing its corporate workforce, he said. The company is now in the “build” phase as it seeks to return to revenue growth by the end of fiscal 2026.

Stitch Fix is investing in AI and data science to improve its client experience, including enhancing its AI inventory tool and introducing StyleFile, a personalized snapshot that captures clients’ style preferences, Baer noted. Stitch Fix’s proprietary AI models, built on insights from over 100 million fixes, enable the creation of personalized StyleFiles. Early testing showed a 5% conversion uplift among clients receiving a StyleFile, according to Baer. Initially rolled out to new clients, StyleFile became available to all men’s and women’s clients as of Sept. 24.

The company also responded to customer feedback by offering up to eight items per shipment compared to the five-item fix. The move resulted in a 14% reduction in clients canceling recurring shipments, Baer noted.

After streamlining its assortment this past year, Stitch Fix plans to introduce thousands of new styles in the first quarter, aiming to triple newness in its assortment by year-end. For its fiscal Q1, Stitch Fix expects revenue between $303 million and $310 million, falling short of analysts’ expectations of $319 million.

Other recent ecommerce earnings results

Alibaba Group Holding Limited

Q1 2025: Alibaba reported a 4% revenue increase year over year to $33.5 billion in its fiscal first quarter ended June 30, 2024. During the same period, net income dropped 27% to $3.31 billion.

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)

Q2 2024 earnings: Amazon net sales increased 10% year over year to $148.0 billion during its second fiscal quarter, which ended June 30.

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.

The Home Depot Inc. (No. 4)

Q2 2024: Home Depot said its total sales grew 0.6% year over year to $43.2 billion in its second quarter of 2024 ended June 28. Meanwhile, online sales were up 4% compared with the same quarter a year ago.

Read more on Home Depot’s earnings here.

Reitmans (Canada) Limited (No. 454)

Q2 2025: Reitmans (Canada) Limited reported a 0.4% rise in net revenue to 215.5 million Canadian dollars ($159.7 million) in its fiscal second quarter ended Aug. 3. Ecommerce sales decreased 1.3% year over year to 52.1 million Canadian dollars ($38.6 million).

“We had an excellent second quarter and one of our best quarters of the past 10 years,” said Andrea Limbardi, president and CEO of RCL. “Despite operating 16 fewer stores compared to the same period last year, our net revenues were up slightly, underscoring how strongly our product offering resonated with our customers.”

The apparel retailer, whose banners include Reitmans, Penningtons and RW&CO., had 389 open stores as of Aug. 3 after closing four locations during the second quarter.

“The ongoing modernization of our distribution facility remains on track and will ultimately help support our long-term vision,” Limbardi said. “While the overall retail environment continues to be affected by economic uncertainty and logistics issues, we are well-positioned to drive profitable growth.”

Target Corp. (No. 5)

Q2 2024: Target reported that total sales increased 2.6% year over year to reach $25 billion in its second fiscal quarter of 2024 ended Aug. 3. Digital sales alone grew 8.7% during the same period.

Read more on Target’s earnings results here.

Walmart Inc. (No. 2)

Q2 2025: Walmart recorded a 4.8% increase in consolidated revenue year over year. It brought in $169.34 billion for its fiscal second quarter of 2025 ended July 31.

Read more on Walmart’s earnings here.

Ecommerce earnings calendar

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

• Levi Strauss & Co.: Oct. 1
• Nike: Oct. 1
• Aritzia: Oct. 15

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