Let’s dig into the relative performance of Amazon (NASDAQ: AMZN) and its peers as we unravel the now-completed Q1 online retail earnings season.

Consumers ever rising demand for convenience, selection, and speed are secular engines underpinning ecommerce adoption. For years prior to Covid, ecommerce penetration as a percentage of overall retail would grow 1-2% annually, but in 2020 adoption accelerated by 5%, reaching 25%, as increased emphasis on convenience drove consumers to structurally buy more online. The surge in buying caused many online retailers to rapidly grow their logistics infrastructures, preparing them for further growth in the years ahead as consumer shopping habits continue to shift online.

The 6 online retail stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 1.1% while next quarter’s revenue guidance was in line.

Luckily, online retail stocks have performed well with share prices up 29.4% on average since the latest earnings results.

Amazon (NASDAQ: AMZN)

Founded by Jeff Bezos after quitting his stock-picking job at D.E. Shaw, Amazon (NASDAQ: AMZN) is the world’s largest online retailer and provider of cloud computing services.

Amazon reported revenues of $155.7 billion, up 8.6% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with a solid beat of analysts’ EPS estimates but operating income guidance for next quarter missing analysts’ expectations.

“We’re pleased with the start to 2025, especially our pace of innovation and progress in continuing to improve customer experiences,” said Andy Jassy, President and CEO, Amazon.

Interestingly, the stock is up 17.9% since reporting and currently trades at $223.73.

Is now the time to buy Amazon? Access our full analysis of the earnings results here, it’s free.

Best Q1: Carvana (NYSE: CVNA)

Known for its glass tower car vending machines, Carvana (NYSE: CVNA) provides a convenient automotive shopping experience by offering an online platform for buying and selling used cars.

Carvana reported revenues of $4.23 billion, up 38.3% year on year, outperforming analysts’ expectations by 6.2%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates.

Carvana pulled off the biggest analyst estimates beat and fastest revenue growth among its peers. The company reported 133,898 units sold, up 45.7% year on year. The market seems happy with the results as the stock is up 34.3% since reporting. It currently trades at $347.46.

Is now the time to buy Carvana? Access our full analysis of the earnings results here, it’s free.

Slowest Q1: Wayfair (NYSE: W)

Founded in 2002 by Niraj Shah, Wayfair (NYSE: W) is a leading online retailer of mass-market home goods in the US, UK, Canada, and Germany.

Wayfair reported revenues of $2.73 billion, flat year on year, exceeding analysts’ expectations by 0.7%. Still, it was a mixed quarter as it posted a decline in its buyers.

Wayfair delivered the slowest revenue growth in the group. The company reported 21.1 million active buyers, down 5.4% year on year. Interestingly, the stock is up 95.2% since the results and currently trades at $58.95.

Read our full analysis of Wayfair’s results here.

Coupang (NYSE: CPNG)

Founded in 2010 by Harvard Business School student Bom Kim, Coupang (NYSE: CPNG) is an e-commerce giant often referred to as the "Amazon of South Korea".

Coupang reported revenues of $7.91 billion, up 11.2% year on year. This number missed analysts’ expectations by 1.9%. Overall, it was a mixed quarter for the company.

Coupang had the weakest performance against analyst estimates among its peers. The company reported 23.6 million active buyers, up 8.8% year on year. The stock is up 26.8% since reporting and currently trades at $30.40.

Read our full, actionable report on Coupang here, it’s free.

Chewy (NYSE: CHWY)

Founded by Ryan Cohen, who later became known for his involvement in GameStop, Chewy (NYSE: CHWY) is an online retailer specializing in pet food, supplies, and healthcare services.

Chewy reported revenues of $3.12 billion, up 8.3% year on year. This result topped analysts’ expectations by 1.1%. It was a satisfactory quarter as it also recorded a narrow beat of analysts’ EBITDA estimates.

The stock is down 15.3% since reporting and currently trades at $38.80.

Read our full, actionable report on Chewy here, it’s free.

Market Update

Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

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