This week, more retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America reported ecommerce earnings results for the most recent fiscal quarter. Here’s the ecommerce earnings summary you need to know from this week. Read more ecommerce earnings coverage here.
Parentheses indicate the merchant’s ranking in the Top 1000.
Amazon.com Inc. (No. 1)
Amazon recorded its highest operating income ever in the third quarter ended Sept. 30. Operating income nearly quadrupled year over year, growing 343%.
Read more about Amazon’s earnings here.
Columbia Sportswear Co. (No. 149)
Columbia reported net sales grew 3% in its fiscal third quarter ended Sept. 30, 2023. Growth was balanced between wholesale and direct-to-consumer channels, it said. Physical stores are outperforming ecommerce within direct to consumer.
“Consumer demand for soft goods, including apparel, footwear, remains weak,” Tim Boyle, CEO, said in an earnings call.
Deckers Brands (No. 74)
Deckers reported revenue grew 25% to $1.1 billion in its second fiscal quarter of 2024 ended Sept. 30. Direct-to-consumer net sales increased 38.8% to $331.7 million.
“Consumer demand was robust in stores and online,” says Dave Powers, Deckers CEO. Greater numbers of Hoka and Ugg brands drove average prices up, he said. [what do you mean? products from those brands?]
Hasbro Inc. (No. 554)
Hasbro reported revenue declined 10% in the third quarter ended Oct. 1. However, the toy retailer reported large gains in online gaming. Digital gaming revenue grew 40%, driven by Magic The Gathering and Dungeons and Dragons. Consumer products and entertainment revenue declined 18% and 42%, respectively.
Overstock.com Inc. (No. 49)
Overstock reported revenue declined 19% to $373 million in the third quarter ended Sept. 30. Results reflect the Overstock brand through July 31, and Bed Bath & Beyond beginning Aug. 1. Active customers declined 15% and net revenue per active customer declined 13%.
Skechers USA Inc. (No. 301)
Skechers reported sales grew 7.8% to $2.0 billion in the third quarter ended Sept. 30. Direct-to-consumer sales, which include ecommerce, grew 23.8%. Domestic ecommerce slowed as U.S. consumers returned to stores. Last year at this time, stores had a lack of inventory, pushing consumers online, the retailer said. This year, stores are better stocked, so consumers went there first. [attribution?]
Tractor Supply Co. (No. 99)
Tractor Supply report net sales grew 4.3% to $3.41 billion in the third quarter ended Sept. 30. Ecommerce sales grew in the high single digits, the retailer said without revealing more. Digital sales made up more than $1 billion in the last 12 months. The Buy Online, Deliver from Store program is also doing well, Tractor Supply said.
Meanwhile, comparable sales declined 0.4%.
United Parcel Service Inc.
UPS reported profits and revenue declined in its fiscal third quarter ended Sept. 30, 2023. UPS consolidated revenue declined 12.8% from the year-ago period to $21.1 billion. Consolidated operating profit declined 48.7% over the same period to $1.3 billion.
So what does it mean?
- Retailers are still reporting soft consumer demand in the face of rising prices and turn toward experiences rather than physical goods.
- However, some apparel retailers are reporting bright spots. Deckers and Skechers both say they’re seeing strong interest from consumers.
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