Target CEO Brian Cornell piled on superlatives when discussing Q4 and 2019 results, including six consecutive years of 25%+ growth in ecommerce sales. Same-day (order pickup, drive up and Shipt delivery) accounted for more than 80% of Target’s Q4 comparable digital sales growth of 20%, compared to 1.5% overall comp growth.
Ecommerce home furnishings giant Wayfair increased its fourth quarter sales 40.6% to $1.99 billion, but saw its Q4 net loss balloon to $143.8 million, nearly doubling the $72.8 million loss from the same period in 2017. The company accentuated the positive, emphasizing its holiday season and flash sale performance to analysts.
Macy’s Inc. reported a 1.1% decline in net sales for the second quarter, from $5.6 billion to $5.5 billion, with comp sales inching up just 0.5% and double-digit online sales in the same period. Mobile sales via the Macy’s app were up 50%+ in the first half of 2018. See how Macy’s did in other areas of its business.
Target reported a healthy 28% gain in ecommerce sales in the first quarter, while same-store sales rose 3%, helped by a 3.7% growth in traffic. Strong categories included home goods, household essentials and food and beverage. Here is what Target has implemented that led to the success of the first quarter.
Williams-Sonoma continues to grow share of ecommerce in its overall sales, increasing from 52.2% in Q1 of 2017 to 53.7% this past quarter, while growing online revenue by 11.2%. Total net revenue was $1.2 billion, up 8.2% from last year. Here are some of the plans Williams-Sonoma has to further expand its digital channel.