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Primark tops STORES magazine's Hot 100 Retailers List

Aug '18
Courtesy: Primark
Courtesy: Primark
Dublin-based clothing and accessories retailer Primark has topped the Hot 100 Retailers List published by the US National Retail Federation’s (NRF) STORES magazine even though the company, which sells low-price, high-volume goods, has a fraction of the revenue of its top competitors. It has grown rapidly since opening its first US store in 2015.

Primark’s annual sales in the United States increased 103 per cent to $489 million in 2017.

Coming in second is outdoor sports and recreation retailer Bass Pro Shops, growing at 94 per cent to $7.3 billion. At third is online home improvement and appliance retailer Build.com, which grew 47 per cent to $1.3 billion due to a healthy housing boom and artificial reality-enabled product viewing, according to an NRF press release.

Amazon, which grew 45 per cent to $103 billion, is ranked fourth while online home goods retailer Wayfair, which grew 36 per cent to $4.1 billion, ranked fifth.

The Hot 100 list of fastest-growing retailers, compiled by research firm Kantar Consulting, ranks both public and privately held companies by percentage of US sales growth in 2017 over 2016, with a $300 million threshold for inclusion.

The list is a compendium of the best strategies retailers are using to grow in this omni-channel world. (DS)

Fibre2Fashion News Desk – India

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