Wal-Mart tops 2007 retailer list
July 01, 2008
Washington, D.C.—As it has for the past 17 years,
Wal-Mart ranks No. 1 on
Stores magazine's Top 100 Retailers list, with 2007 sales of $379 billion.
According to
Stores, Wal-Mart remains at the top of the heap because it hasn't lost site of its original claim to fame of providing everyday low prices for its customers, even while investing in new "green" and organic initiatives.
The Home Depot is the nation's second largest retailer, while its rival competitor, Lowe's, also landed on the list at No. 9. Cincinnati-based Kroger came in at No. 4.
Thanks to its acquisition of Caremark, CVS Caremark landed the No. 3 spot on the list, up from No. 9 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 No. 7 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 No. 11.
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 and 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,"
Stores Executive Editor Susan Reda said in a media release issued on Tuesday. "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."
The report, sponsored by business software company 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.
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