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Ecommerce earnings recap: What you missed from Allbirds, Blue Apron, Warby Parker and more

quarterly earnings report: Allbirds

quarterly earnings report: Allbirds

Quarterly earnings season is on, and Digital Commerce 360’s earnings report has the most important ecommerce takeaways of the week. Several retailers in Digital Commerce 360’s Top 1000 list of leading ecommerce retailers in North America reported this week. Read more earnings coverage here.

Allbirds Inc. (No. 342)

Allbirds reported net revenue declined 9.8% year over year to $70.5 million for the second quarter ended June 30. The decrease can be attributed to a decline in average sales price due to promotional activity, the online shoe retailer said in a statement. Allbirds also reduced inventory 24% as part of a plan to cut costs and get rid of out-of-season styles, it said.

Arhaus Inc. (No. 370)

Arhaus reported net revenue grew 2.2% to $313 million in the second quarter ended June 30. Retail sales from Arhaus showrooms were flat, while online sales were up “double digits,” the home retailer said. However, revenue was lower than expected due to delivery delays from updates to the retailer’s IT and distribution systems, said CEO John Reed.

Beachbody LLC (No. 233)

Beachbody reported total revenue was down 24.7% to $134.9 million in the second quarter ended June 30. Digital revenue declined from $78 million in the year-ago period to $65.2 million. Subscriptions were down 12% to 1.53 million subscriptions, the retailer said. 

Blue Apron Inc. (No. 190)

Blue Apron reported net revenue declined 14.5% to $106.2 million in the second quarter ended June 30. However, average order value grew 12.7% year over year to $75.66, and average revenue per customer grew 21.3% to $397. That’s largely due to a price increase implemented during the quarter, the meal kit company said in a statement.

Blue Apron also lowered its costs when adding new customers. Cost per acquisition declined 30%, and conversion rates improved by 25%, per CEO Linda Findley.

Brilliant Earth LLC (No. 196)

Brilliant Earth net sales grew 1.3% to $110.2 million in the second quarter ended June 30. The jewelry retailer said it reached a record number of orders in the quarter, up 21.2%. Sales grew more slowly due to a 16.4% decline in average order value. 

Brilliant Earth started as an online retailer, and in Q2 it focused on further growing omnichannel capability by opening four showrooms for a total of 32.

Cricut Inc. (No. 473)

Cricut reported revenue declined 3% to $177.8 million in the second quarter ended June 30. Subscription revenue, meanwhile, grew 13% to $76.1 million. Cricut has 2.7 million subscribers, up 15%, the company said. The total user base, including subscribers, amounts to 8.7 million, up 17% over last year.

On July 18, following the end of the quarter, Cricut launched its newest machine exclusively via online channels. 

Fossil Group Inc. (No. 236)

Fossil recorded worldwide net sales declined 13% to $322 million for the second quarter ended July 1. Comparable retail sales grew 3%, offset by a 4% decline in direct-to-consumer sales and 19% decline in wholesale. Traditional watch sales grew, while smartwatch sales declined, the retailer said.

HanesBrands Inc. (No. 276)

Hanes reported net sales declined 4.9% to $1.44 billion in the second quarter ended July 1. Gross profit declined 16% to $483 million, the retailer said. Innerwear sales grew 3%, ahead of expectations, while activewear sales declined 19% due to “soft consumer demand and excess channel inventory,” the retailer said in a statement. Direct-to-consumer sales also declined, though Hanes did not specify by how much. 

SmileDirectClub Inc. (No. 199)

SmileDirectClub reported a 19.1% decline in revenue to $102 million for the second quarter ended June 30. CEO David Katzman cited the “continuing challenging economic backdrop impacting our core customer” in a call with investors. SmileDirectClub raised prices in July, and it says it expects that to help with revenue in the next quarter.

The retailer also began rolling out its mobile scanning app using AI to create dental treatment plans in the U.S.

ThredUp Inc. (No. 580)

ThredUp reported revenue grew 8% to $82.7 million for the second quarter ended June 30. The clothing resale retailer said active buyers declined 0.8%, but total orders grew 5% to 1.8 million in Q2. ThredUp’s target is a budget customer who is “feeling the pinch across their discretionary purchasing power” from broader economic trends, CEO James Reinhart told investors. 

In Q2, ThredUp also added new resale partnerships with 11 retailers including American Eagle and SoulCycle. 

Warby Parker (No. 339)

Warby Parker reported net revenue grew 11% to $166.1 million in the second quarter ended June 30. The eyewear retailer said average revenue per customer grew 9.2% to $277. Active customers also grew slightly, up 1.2% to 2.28 million.

Warby Parker continued to invest in its retail strategy, opening 13 new stores in the quarter and on track to opening 40 for the year. Eye exams offered in these locations are “the gateway to prescription eyewear and contact purchases,” the retailer said. Exams made up 3.4% of revenue in the quarter, up from 2.4% in the year-ago period.

Yeti Holdings Inc. (No. 134)

Yeti reported sales declined 4% in the second quarter ended July 1, to $402.6 million. That’s partially due to a product recall in the quarter costing $24.5 million. DTC sales grew 1%, mostly in drinkware, while wholesale sales declined 10%. DTC accounted for $226.4 million, more than half of total sales.

So what does this all mean?

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