As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the online retail industry, including Wayfair (NYSE: W) and its peers.

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 mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.9% while next quarter’s revenue guidance was 0.7% below.

In light of this news, share prices of the companies have held steady as they are up 4.6% on average since the latest earnings results.

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 $3.34 billion, up 6.9% year on year. This print exceeded analysts’ expectations by 1.1%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EBITDA estimates and a narrow beat of analysts’ revenue estimates.

"Q4 capped off a tremendous year for Wayfair, with revenue growing 7.8% year-over-year excluding the impact of Germany. We had our third consecutive quarter of new customer growth, on top of healthy growth in repeat orders, all in the face of a category that contracted in the low single digits for the final quarter of the year. 2025 was a year where we returned to growth and accelerated throughout the year through a number of organic business strategies that can compound for years to come. This was characterized by two important themes: our share capture overwhelming the drag of the macro, and the substantial flow through of that growth to the bottom line. We expect our topline growth and flow through to adjusted EBITDA to be the bedrock of our story for years to come," said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.

The stock is down 15.5% since reporting and currently trades at $77.30.

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

Best Q4: Revolve (NYSE: RVLV)

Launched in 2003 by software engineers Michael Mente and Mike Karanikolas, Revolve (NASDAQ: RVLV) is a fashion retailer leveraging social media and a community of fashion influencers to drive its merchandising strategy.

Revolve reported revenues of $324.4 million, up 10.4% year on year, outperforming analysts’ expectations by 6.2%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA and revenue estimates.

Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 2.1% since reporting. It currently trades at $25.36.

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

Weakest Q4: 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 $8.84 billion, up 10.9% year on year, falling short of analysts’ expectations by 3.8%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and EBITDA estimates.

Coupang delivered the weakest performance against analyst estimates in the group. The company reported 24.6 million active buyers, up 7.9% year on year. Interestingly, the stock is up 14.8% since the results and currently trades at $21.48.

Read our full analysis of Coupang’s results here.

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 $5.60 billion, up 58% year on year. This number surpassed analysts’ expectations by 6.8%. However, it was a slower quarter as it logged a significant miss of analysts’ EBITDA estimates.

Carvana achieved the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 2.8% since reporting and currently trades at $371.75.

Read our full, actionable report on Carvana 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 $3.26 billion, flat year on year. This print was in line with analysts’ expectations. More broadly, it was a mixed quarter as it also logged a narrow beat of analysts’ EBITDA estimates but revenue in line with analysts’ estimates.

Chewy had the slowest revenue growth among its peers. The stock is up 16.2% since reporting and currently trades at $27.26.

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

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.