As the holiday shopping season draws to a close, more players in the e-commerce sector are reporting their earnings for the year. Below, we look at some of the major fulfillment vendors and retailers that announced earnings from their recent fiscal quarters.
Amazon.com Inc. reported its highest operating income ever in its third quarter, raking in $143.1 billion. This increase represents a 343% growth, year over year (y-o-y).
Walmart Inc.’s report shows that online sales in the United States rose by 24% for its 2023 fiscal third quarter. Over the same period, international e-commerce sales role 15% while global e-commerce dropped by 3%. Comparable sales in the United States rose by 4.9% while total revenue hit $160.8 billion, representing a 5.2% increase.
Target Corp.’s report shows a 4.9% drop in third-quarter sales with online sales also dropping by 6.7% y-o-y for the first nine months of the fiscal year.
Costco Wholesale Corp., another retailer, announced increases in net sales for its first fiscal quarter of 2024. Figures show that net sales reached $56.72 billion, a more than 6% increase, with comparable e-commerce sales growing by 6.3% in the same period. The company’s net income from the quarter rose from $1.37 million in the previous year to reach $1.59 million in the latest quarter. The retailer also revealed that pet items, snacks and e-gift cards performed strongly. It should be noted that the figures released included Black Friday and Thanksgiving sales but not Cyber Monday.
Nike Inc., a major shoe retailer, reported increases in both total revenues and digital sales for its second fiscal quarter of 2024. The company announced that digital sales rose 4% while revenue rose by 1% y-o-y, to reach $13.4 billion. In addition, Nike reported challenges attracting consumers to its app and website, aside from shopping holidays like Singles day and Black Friday.
FedEx Corp., a major fulfillment vendor that serves nearly 500 of the top 1,000 leading e-commerce retailers, also announced increases in its operating income for its freight and ground divisions. Total operating income rose to $1.4 billion, which represents a 17% increase. The carrier also reported a decline in operating income for the express division as well as a decline in package volume, as in the last nine quarters.
FedEx CEO and president Raj Subramaniam stated that the company recognized the need to reconfigure its network to focus on density and speed, as volume mix continued to shift and e-commerce grew rapidly.
The significance of e-commerce is undoubtedly going to increase in prominence, and those interested in carving out a share of this market need to niche down early enough. Platforms such as NextPlat Corp. (NASDAQ: NXPL) (NASDAQ: NXPLW) provide ways to venture into healthcare e-commerce, which is one of the segments growing at a very high rate.
NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL) are available in the company’s newsroom at https://ibn.fm/NXPL
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