The latest ecommerce earnings results are out from retailers in Digital Commerce 360’s Top 1000 Database. Both Williams-Sonoma and The Gap raised their full-year guidance. As they did, The Gap also shared that its online sales grew 7% from a year ago. 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

• Williams-Sonoma records a 2.9% fall in net revenue, though its CEO sounded optimistic for fourth-quarter activity.
• The Gap saw online sales grow 7% year over year, accounting for 40% of its sales overall.

The Gap, Inc. (No. 11)

Q3 2024: The Gap, Inc. said net sales increased 1.6% year over year to $3.8 billion in its fiscal third quarter ended Nov. 2. The retailer raised its full-year outlook, noting that online sales were up 7% from a year earlier, making up 40% of its total net sales.

“Holiday is off to a strong start and we remain focused on executing with excellence in the fourth quarter,” said Richard Dickson, president and CEO at The Gap. “Our performance year-to-date gives us the confidence to raise our full-year outlook for sales, gross margin and operating income growth.”

Lowe’s Companies, Inc. (No. 11)

Q3 2024: Lowe’s Companies, Inc. reported a 1.3% decrease in net sales year over year to $20.2 billion for its fiscal third quarter ended Nov. 1.

Still, Lowe’s the home improvement retailer achieved 6% year-over-year sales growth online. Read more on Lowe’s ecommerce earnings here.

Macy’s, Inc. (No. 16)

Q3 2024: Macy’s, Inc. released preliminary results for its fiscal third quarter on Nov. 25, sharing that net sales decreased 2.4% year over year to $4.7 billion. However, the company is delaying the release of its final results for the quarter while an independent investigation takes place into what the company characterized as a former employee’s failure to report as much as $154 million in expenses. In an announcement, Macy’s shared the following:

As a result of the independent investigation and forensic analysis, the company identified that a single employee with responsibility for small package delivery expense accounting intentionally made erroneous accounting accrual entries to hide approximately $132 to $154 million of cumulative delivery expenses from the fourth quarter of 2021 through fiscal quarter ended November 2, 2024. During this same time period, the company recognized approximately $4.36 billion of delivery expenses.

Target Corporation (No. 5)

Q3 2024: Target Corporation recorded a 0.9% increase in total sales year over year, reaching $25.2 billion in its fiscal third quarter ended Nov. 2.

Meanwhile, online sales were up 10.8% year over year as driven same-day delivery grew nearly 20%. Read more on Target’s ecommerce earnings here.

Walmart Inc. (No. 2)

Q3 2024: Walmart Inc. said its consolidated revenue grew 5.5% to $169.6 billion in its third fiscal quarter ended Oct. 31.

The Bentonville Arkansas-based retailer’s global ecommerce sales were up 27% globally for the same period. Read more on Walmart’s ecommerce earnings here.

Williams-Sonoma, Inc. (No. 19)

Q3 2024: Williams-Sonoma, Inc. announced that net revenue fell 2.9% to $1.8 billion in its third quarter ended Oct. 27. Nevertheless, the company raised its full-year guidance, sounding optimistic for its holiday and fourth-quarter prospects.

“The fourth quarter is the time of year when we shine. And, therefore, we are raising our full-year guidance,” said Laura Alber, president and chief executive officer, at Williams Sonoma. “We now expect full-year revenues to come in at a range of down 3% to down 1.5%, and we are raising our guidance on operating margin 40 bps to be in the range of 17.8% to 18.2%.”

In Williams-Sonoma’s earnings call, Alber touted the launch of new online tools that the retailer is using to engage customers.

“The new tools that we have launched assist our customers with developing design plans for any size or style of home,” she stated. “In October, we also launched our Shop by Style and design boards in Pottery Barn, allowing customers to create and share and mood boards online.”

Other recent ecommerce earnings results

Advance Auto Parts, Inc. (No. 88)

Q3 2024: Advance Auto Parts Inc. reported $2.15 billion in net sales from continuing operations for the quarter ended Oct. 5, 2024. That’s down 3.2% from $2.22 billion in Q3 2023. Comparable store sales, including ecommerce sales, dropped 2.3%, reflecting ongoing economic pressures on consumer spending.

The retailer announced plans to close over 700 U.S. locations — consisting of around 500 corporate-owned and 200 independently operated stores — as part of a turnaround strategy. The company has around 5,000 stores in North America. During the quarter, Advance Auto Parts also closed on its sale of Worldpac, its automotive parts wholesale distribution business, to global investment firm Carlyle for $1.5 billion in cash.

Both professional and DIY customer channels saw sales decline in the low single digits, with professional sales outperforming DIY. To improve the latter, Advance Auto is investing in store upgrades, ecommerce capabilities, and employee training, according to chief financial officer Ryan Grimsland. For fiscal 2024, the company projects $9 billion in net sales, with comparable store sales down 1%.

Alibaba Group Holding Limited

Q2 2025: Alibaba reported revenue of $33.7 billion. That’s a 5% year-over-year increase, and a net income of $6.32 billion.

“Alibaba’s international digital commerce revenue growth remained robust, while cloud revenue, excluding our consolidated subsidiaries, grew steadily, supported by an increasing contribution from AI products,” CEO Eddie Wu shared with analysts. “We’ve enhanced operational efficiency, strengthened monetization capabilities, and improved the performance of our loss-making businesses across segments.”

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 GMV. Tmall ranks No. 2. Both platforms operate in China and primarily serve the Chinese market. Among Alibaba’s other marketplaces is the global B2B marketplace Alibaba.com.

Read more on Alibaba’s ecommerce earnings here.

Amazon.com, Inc. (No. 1)

Q3 2024: Amazon.com, Inc. reported an 11% increase in net sales, reaching $158.9 billion for its fiscal third quarter ended Sept. 30. That’s up from $143.1 billion in Q3 2023. Operating income grew year over year to $17.4 billion from $11.2 billion. Meanwhile, net income increased to $15.3 billion, compared to $9.9 billion in Q3 2023.

During the Q3 earnings call, CEO Andy Jassy said Amazon’s Stores business saw a 9% year-over-year sales increase in North America. Sales were also up 12% internationally.

“At a time when consumers are being careful about how much they spend, we’re continuing to lower prices and ship even more quickly, and we can see this resonating with customers as our unit growth continues to be strong and outpace even our revenue growth,” Jassy said.

On the technology front, Amazon introduced AI-driven features to help improve both customer and seller experiences. This included the expansion of Rufus, its generative AI shopping assistant, to international markets such as Canada and the U.K. The company also launched AI Shopping Guides to simplify product research by merging category insights with its catalog. For sellers, it unveiled Project Amelia, offering tailored business insights to boost productivity.

Ahead of the holiday season, Amazon plans to hire 250,000 U.S. employees. CEO Andy Jassy highlighted major upcoming initiatives. Those included “tens of millions of deals,” an NFL Black Friday game, and more than 100 new cloud and AI features.

Read more on Amazon’s ecommerce earnings here.

The Beachbody Company, Inc. (No. 322)

Q3 2024: The Beachbody Company Inc. reported $102.19 million in revenue for its fiscal third quarter ended Sept. 30, 2024. That was a 20.3% decline from $128.25 million in the same period last year.

Digital revenue dropped 16.5% to $53.70 million, while nutrition and other revenue fell 19.6% to $47.42 million.

In October, Beachbody announced plans to lay off nearly 200 employees — roughly one-third of its workforce — and implement a major restructuring aimed at cutting costs by tens of millions of dollars. The company is moving from a multi-level marketing model to a streamlined single-level affiliate program, which it describes as a “simpler” and “modern” omnichannel sales strategy.

“This pivot marks a strategic shift that will fundamentally transform our company and positions us well for long-term profitable growth,” CEO and co-founder Carl Daikeler said in the earnings announcement. “This change of our distribution strategy, combined with the expansion of our direct-to-consumer and partnership channels, represents a pivotal moment that will remove legacy barriers associated with the former MLM structure and allow us to fully capitalize on the significant market opportunity in health, nutrition, and wellness.”

The Home Depot, Inc. (No. 4)

Q3 2024: The Home Depot Inc. reported $40.22 billion in net sales for its fiscal third quarter ended Oct. 27, 2024. That’s up 6.6% from $37.71 billion during the same period in 2023. However, sales declined from $43.2 billion in the previous quarter.

The home improvement retailer saw online sales grow 4% year over year, with nearly half of all online orders fulfilled through stores, said Billy Bastek, executive vice president of merchandising, during the company’s earnings call.

The Home Depot Inc. ranks No. 4 in the Top 1000 Database, Digital Commerce 360’s ranking of the largest online retailers in North America. It’s also the top-ranked retailer in the Top 1000’s Hardware & Home Improvement category. Digital Commerce 360 projects that Home Depot’s web sales in 2024 will reach $23.6 billion. That would be 4.5% growth over its 2023 online sales.

Read more on Home Depot’s ecommerce earnings here.

Loblaw Companies Limited (No. 33)

Q3 2024: Loblaw Companies Ltd., Canada’s largest food and drug retailer, posted fiscal third-quarter revenue of 18.54 billion Canadian dollars ($13.28 billion). That’s up 1.5% from CA$18.27 billion a year ago.

Online sales surged 18.5% in Q3 — the retailer’s highest growth in over two years — driven by strong performance in both food and pharmacy.

“We remain pleased with our online sales penetration in both food and pharmacy,” chief financial officer Richard Dufresne said during the earnings call.

Pharmacy chain Shoppers Drug Mart led the quarter’s growth, with same-store pharmacy sales increasing 2.9%, while food retail saw slower gains, up 0.5% compared to a 4.5% increase last year. Loblaw’s discount banners, including No Frills and Maxi, outperformed conventional stores, reflecting consumer demand for value, Dufresne said.

The company also ramped up its store expansion efforts, opening 25 discount locations and piloting two ultra-discount No Name stores. An additional 20 No Frills and Maxi locations are planned for Q4, Dufresne said.

Lulu’s Fashion Lounge Holding Inc. (No. 238)

Q3 2024: Lulu’s Fashion Lounge Holdings Inc. reported $80.52 million in net revenue for its fiscal third quarter ended Sept. 29, 2024. That’s a 3% decrease from $83.12 million in the same quarter last year. The decline was attributed to a 3% drop in total orders and a 2% decrease in average order value, which fell from $133 to $131. Lower return rates partially offset these declines.

Active customers totaled 2.7 million, a 10% year-over-year decrease from 3.0 million, and flat compared to the previous quarter.

“Third quarter net revenue came in ahead of our outlook, driven by record growth in special occasion and bridesmaid dress categories, boosting overall dress sales and reinforcing our strength in event apparel,” Crystal Landsem, CEO of Lulu’s, said in a statement. “This gain was offset by continued softness in our casual wear business, which we are strategically reevaluating to better align with our core focus on event attire.”

During Q3, Lulu’s wholesale segment showed significant growth, with revenue up 28% year over year. A new partnership with Dillard’s launched Lulu’s event collections in over 30 stores nationwide in September.

The company has also invested in technology to enhance customer engagement. President and chief information officer Mark Vos pointed to an increase in app users and higher conversion rates, supported by updates like product videos on its website, a Tapped sub-site for improved discovery, and expanded diversity in product imagery.

For Q4 2024, Lulu’s expects net revenue between $67.5 million and $70.0 million. That would be down from $75 million a year ago. Full-year projections estimate $317.5 million to $320 million, compared to $355.2 million in 2023.

Sally Beauty Holdings, Inc. (No. 347)

Q4 2024: Sally Beauty Holdings Inc. posted $935.03 million in consolidated net sales for its fiscal fourth quarter ended Sept. 30, 2024, a 1.5% increase from $921.36 million in the same quarter last year.

Global ecommerce sales contributed $91 million, representing 9.8% of total net sales for Sally Beauty. Consolidated gross profit for the quarter rose 2.7% to $479.2 million. That’s up from $466.6 million a year earlier.

For the full fiscal year 2024, Sally Beauty reported $3.72 billion in consolidated net sales, down slightly from $3.73 billion in 2023. Global ecommerce revenue totaled $364 million, maintaining a 9.8% share of overall sales.

“We are pleased to conclude our fiscal year with strong fourth-quarter results, reflecting continued momentum across both our Sally Beauty and Beauty Systems Group segments,” said Denise Paulonis, president and CEO, in a statement. “We delivered a second consecutive quarter of positive comparable sales across both business units in combination with healthy gross margins, which resulted in adjusted operating margin expansion of 80 basis points to 9.4%.”

Topgolf Callaway Brands Corp. (No. 527)

Q3 2024: Topgolf Callaway Brands Corp. reported $1.01 billion in net revenue for its fiscal third quarter ended Sept. 30, 2024, a 2.7% decline from the same period last year. The drop was primarily driven by an 11.1% decrease in revenue from the Active Lifestyle segment, partially offset by 1.2% growth in the Topgolf division.

Direct-to-consumer sales made up 40% of the company’s total business during the quarter, according to its earnings update.

Topgolf Callaway falls under the Specialty category in the Top 1000. Digital Commerce 360 projects that Topgolf Callaway’s total web sales will reach $146.00 million in 2024.

Read more on Topgolf Callaway Brands’ earnings here.

Sonos, Inc. (No. 220)

Q4 2024: Sonos Inc. reported $255.38 million in revenue for its fiscal Q4 ended Sept. 28, 2024, down from $305.15 million a year ago. The company posted a net loss of $53.09 million, widening from $31.24 million in Q4 2023.

Full-year revenue totaled $1.52 billion, a decline from $1.66 billion in fiscal 2023.

A buggy app update earlier in the year disrupted speaker connectivity for many customers, prompting Sonos to delay product launches and lower its annual forecast. Despite the setbacks, Sonos released its first-ever headphones, the Sonos Ace, on June 5. The company focused heavily on app recovery efforts and, by October, was able to resume its launch schedule, rolling out the Arc Ultra soundbar and Sub 4 subwoofer in time for the holiday season, CEO Patrick Spence said in a statement.

“Initial feedback on our new products has been very positive, which, along with the introduction of Ace earlier this year, makes our product lineup the strongest it’s ever been,” Spence said.

The Walt Disney Company (No. 92)

Q4 2024: The Walt Disney Company reported $22.57 billion in revenue for its fiscal Q4 ended Sept. 28, 2024, a 6% increase from $21.24 billion in the same quarter last year. Full-year revenue rose 3% to $91.36 billion, while annual income climbed 59% to $7.57 billion.

“This was a pivotal and successful year for The Walt Disney Company, and thanks to the significant progress we’ve made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future,” CEO Bob Iger said in a statement.

Entertainment revenue led growth in Q4, increasing 14% to $10.83 billion. Direct-to-consumer (DTC) revenue reached $5.8 billion, with streaming operations generating $321 million in operating income. Disney+ added 4.4 million core subscribers, bringing its total to over 120 million.

“In Q4 we saw one of the best quarters in the history of our film studio, improved profitability in our streaming businesses, a record-breaking 60 Emmy Awards for the company, the continued power of live sports, and the unveiling of an impressive collection of new projects coming to our Experiences segment,” Iger said.

Ecommerce earnings calendar

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

• Best Buy Co. Inc.: Nov. 26
• Dick’s Sporting Goods Inc.: Nov. 26
• Dollar Tree Inc.: Dec. 4

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