More than a dozen businesses in Digital Commerce 360’s Top 1000 list of ecommerce retailers in North America reported earnings this week. These are the highlights you need to know. Read more earnings coverage here.
Abercrombie & Fitch Co. (No. 60)
Abercrombie net sales were up 3% year over year to $836 million. The retailer did not break out ecommerce sales.
“On digital engagement, our team has leveraged social media platforms to showcase our lifestyle offering, where we are able to highlight key must-win products for us in an authentic way. Social has proven to be a great channel for our target millennial customer,” CEO Fran Horowitz told investors.
American Eagle Outfitters Inc. (No. 55)
American Eagle ecommerce revenue was down 4% year over year in the first quarter, while in store revenue was up 5%. Overall revenue grew 2%, the retailer reported.
“Customers returned to in-person shopping and demand continued to normalize from elevated builds during the pandemic,” chief operating officer Michael Rempel told investors in a call. Leaders at American Eagle are working on strategies to use analytics to increase engagement, traffic, and conversion, Rempel said.
Bath & Body Works Inc. (No. 57)
The health and beauty retailer finished expanding its BOPIS rollout across the U.S. in Q1, CEO and director Gina Boswell told investors on May 18. Bath & Body Works plans to increasingly connect its digital and in-store offerings, Boswell said, because customers who shop through both channels spend three times more than customers who only use one. As of May 18, just 15% of customers shop through both channels, she said.
Boot Barn Holdings, Inc. (No. 328)
Ecommerce sales were down 18.4% in Boot Barn’s fourth quarter. “We believe these declines are a result of competitors having a stronger in-stock position compared to last year and expect this softness will be transitory,” CEO and president Jim Conroy told investors.
“While our online business declined, that business is cycling two very strong years of 39% and 24% comp growth in fiscal 2022 and fiscal 2021, respectively. Given the extraordinary revenue increase last year, we are quite pleased with these results,” Conroy said. Retail same store sales declined just 3.3% over the same period.
BJ’s Wholesale (No. 69)
BJ’s Wholesale said that digitally enabled comparable sales were up 19% year over year for the quarter ended April 29 ,2023. Online sales made up 10% of total sales in the quarter, CEO and president Bob Eddy told investors. Members of the warehouse club who shop online spend 70% more than members who only shop in stores, Eddy said.
Canada Goose (No. 135)
The winter wear retailer grew revenue 31.4% year over year in its fiscal Q4, but growth was partially offset by lower ecommerce results, per CEO and chairman Dani Reiss. Canada Goose didn’t share specific ecommerce figures.
The retailer shared plans to “further enhance store productivity and e-commerce performance in the not-so-distant future,” without stating details.
The Children’s Place (No. 124)
Digital sales growth at The Children’s Place “significantly outperformed” in-store sales for the first quarter, CEO and president Jane Elfers said in a statement.
Online purchases made up 46% of sales in the quarter, compared to 45% in the previous year’s Q1 and just 33% in 2019. Elfers said ecommerce is projected to be 30% of sales by 2025, representing over $1 billion.
Web traffic was “up double digits,” and 56% of new customer acquisition came through ecommerce, the retailer said.
“Our millennial moms’ clear preference for the ease and convenience of shopping for her kids online is here to stay,” Elfers told investors.
Dick’s Sporting Goods (No. 32)
The sports retailer didn’t share specific ecommerce figures, but president and CEO Lauren Hobart told investors that “our digital experience remains an integral part of our success,” in a Q1 earnings call.
Dick’s acquired outdoor retailer Moosejaw in March. Moosejaw primarily operates online, averaging 3 million visitors per month.
“For just over 10 months in 2023, we expect Moosejaw will add approximately $100 million in net sales,” chief financial officer Navdeep Gupta told investors.
e.l.f. Cosmetics Inc. (No. 953)
Beauty retailer e.l.f. grew net sales by 78% in its fiscal fourth quarter, “primarily driven by strength across our retailer and e-commerce channels,” it said in a statement.
E.l.f. began as an exclusively online brand before expanding into stores. Consumption of the brand’s digital content was up 75% in fiscal 2023, CEO Tarang Amin told investors. The retailer’s beauty squad loyalty program grew to 3.7 million members in the quarter, up 25% year over year. Loyalty members were behind nearly 80% of ecommerce sales, along with higher AOV and more frequent purchases than non-members, Amin assid.
Foot Locker, Inc. (No. 52)
Foot Locker reported that comparable digital sales in Q1 were down 16.8% year over year. The footwear retailer also discontinued an ecommerce line called East Bay, and online sales were down 9.5% excluding the brand. That’s still a larger decrease than in store comparable sales, which were down 7.4%.
Online sales made up 16.3% of sales in the quarter, down from 18% in Q1 2022. Ecommerce sales are starting to pick up, with April sales up year over year, CEO Mary Dillon said. The retailer is on track to reach its goal of 25% online sales by 2026, Dillon said.
Guess Inc. (No. 177)
Online sales at Guess grew in Q1, although more slowly than in store sales, CEO Carlos Alberini said.
Total revenue was down 4% in the quarter to $570 million, with U.S. revenue declines offsetting growth in Asia and Europe.
Kohl’s Corp. (No. 23)
Digital sales were down 19.6% year over year in Q1, Kohl’s reported. Net sales were down just 3.3%.
“Our customers continue to shift back towards stores, and we reduced online-only promotions as we work to simplify our value strategies,” CEO Tom Kingsbury told investors.
Online sales made up just over one-quarter of sales for the quarter at 26%.
Ralph Lauren Corp. (No. 75)
Ralph Lauren’s digital sales were up in fiscal 2023, the retailer said. ”Sales in our owned Ralph Lauren digital sites grew mid-single digits on top of 20% growth last year,” chief financial officer and chief operating officer Jane Nielsen told investors in a Q4 earnings call.
“We plan to enhance the user experience with rich digital content and even greater customer personalization in fiscal ’24,” Nielsen said. That includes using generative AI for copy editing, computer programming, and graphics in addition to inventory optimization and forecasting.
Urban Outfitters (No. 30)
Apparel retailer Urban Outfitters reported comparable sales grew by double digits both in stores and online for its Anthropologie, Free People, and FP Movement brands. The Urban Outfitters brand’s comparable sales were down, and overall comparable sales were up 5%, the retailer said.
“The growth in Retail segment comp sales was driven by a high single-digit digital comp and a low single-digit positive store comp,” co-president and chief operating officer Frank Conforti told investors.
Online rental and resale marketplace Nuuly revenue grew 125% year over year, ending the quarter with 167,000 subscribers.
Williams Sonoma Inc. (No. 22)
Revenue decreased 6% year over year in Q1, but was up 3.5% over 2021. The retailer did not specify ecommerce revenue.
Williams Sonoma plans to “optimize our digital spend and customer connections,” per CEO Laura Albner.
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