Report: Large Retailers Dominate Despite Economy
Many of the nation’s largest retailers maintained their position on the STORES Top 100 Retailers list, published in the July issue of STORES magazine after a review of annual revenues as reported in SEC filings, public statements by the companies and estimates based on other research.
Four of the top eight retailers on the Top 100 Retailers list for 2008 are Walmart, Home Depot, Costco and Lowe’s:
4. Home Depot
7. CVS Caremark
In spite of economic uncertainties, many of the nation’s largest retailers held onto their coveted spots at the top of the retail ladder last year, according to an annual ranking of retailers by sales.
“The economy hasn’t been a losing proposition for everyone, and retailers who have made it through this recession will be well positioned to grow in the future,” says Susan Reda, executive editor of STORES magazine. ”As retailers shift their primary focus this year from expansion to core operations, companies who stay in tune with their customers will reap long-term rewards.”
As consumers grappled with high gas prices and shrinking home values in 2008, discount retailers and warehouse clubs became more appealing to penny-pinchers. Accordingly, Walmart, tops the list again with revenues exceeding $405 billion in 2008. The company found much success with the re-launch of its Great Value line and attracted new customers because of the economic environment.
Costco secured the No. 3 spot this year with families looking to buy items in mass quantities to stay on budget.
To read the complete STORES article and view the Top 100 Retailers list, click here.