Wal-Mart tops the list once again among top 100 retailers
Though the retail climate has changed dramatically in the last year, the top retail power players have not, according to STORES magazine's Top 100 Retailers List.
The report, sponsored by SAP and featured in the July issue of STORES, is an annual snapshot of the retail industry and ranks companies by revenue and groups them on one chart regardless of the segment or segments in which they operate.
As the definition of retail continues to expand, technology and entertainment companies were added to the list, with Apple Stores/iTunes (no. 52), Dell Retail (no. 56), Verizon Wireless (no. 61), and AT&T Wireless (no. 81) all making their debut this year.
“With new products, a different ad campaign, or a fresh look, the best retailers are constantly reinventing themselves to remain relevant to their customers,” said Susan Reda, Executive Editor of STORES Magazine. “As consumers struggle with higher gas and food prices, lower home values, and a shaky economy, retailers are staying focused on how to appeal to shoppers during this difficult time.”
As it has since 1991 when STORES began compiling the Top 100 list, Wal-Mart tops the list again for 2007 with sales of $379 billion. According to the STORES article, while Wal-Mart continues to invest in its “green” and organic initiatives, it has not lost site of its original claim to fame of providing everyday low-prices for its customers.
Standing strong near the top of the list, The Home Depot is the nation's second largest retailer. Home Depot's rival competitor, Lowe's, also landed on the list at number nine. Cincinnati-based grocer Kroger came in at no. 4.
Thanks to its acquisition of Caremark, CVS Caremark landed the number three spot on the list, up from number nine in 2006. The health and wellness industry has continued to outperform many other sectors, largely due to consumers cutting back on discretionary purchases and focusing on essentials. Walgreen saw sales increase 13.4 percent from 2006 to $54 billion, securing the number seven position for the Illinois-based drug store.
Costco (no. 5) and Target (no. 6), oftentimes competing for the same customer, maintained their positions within the top 10 with sales of $64 billion and $63 billion, respectively. Costco has consistently landed a top five spot for the last five years.
Rounding out the top 10 are Sears Holdings (no. 8) and SUPERVALU (no. 10), moving Safeway down to number eleven.
STORES Top 100 Retailers:
2 The Home Depot
3 CVS Caremark
"SAP is proud to sponsor this year's STORES' Top 100 list which recognizes that growth and innovation are keys to success in retail," said Chris Verheuvel, Senior Vice President and General Manager, Retail, SAP America Inc. "Best-run retailers continuously find ways to understand their customers, anticipate their needs, and inspire their loyalty. SAP has a proven track record of helping retailers achieve these goals. In fact, more than 5,800 retailers and wholesalers worldwide are SAP customers."
National Retail Federation