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Wal-Mart holds on to top retail spot |
07.03.2009
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WASHINGTON-In spite of economic turmoil, many of the nation's largest retailers held onto their spots at the top of the retail chain, according to the National Retail Federation's Stores magazine list of the Top 100 Retailers.
The list, which was featured in the July issue of the magazine, ranks retailers by annual revenues as reported in SEC filings, public statements by the companies and estimates based on Planet Retail research.
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Wal-Mart (#1) held onto its top spot with revenues exceeding $405 billion in 2008. The company found success with the re-launch of its Great Value line and attracted new customers due to the economic environment, according to the NRF statement. With food sales throughout the country remaining steady even through the economic downturn, Target (#5) also bulked up food offerings at all its stores, attracting budget-focused shoppers. Warehouse club Costco (#3) secured the third spot this year with families looking to buy items in bulk to stay on budget.
Kroger (#2) came in as the second-largest retailer in the U.S. The company benefited from customers who, in addition to groceries, loaded their carts with non-food items on the same shopping trip in order to conserve fuel.
Even with home sales and values dipping through much of 2008, The Home Depot (#4) and rival Lowe's (#8) still made it into the top ten.
The health and personal care sector remained a bright spot for the industry in 2008 as people invested more on essentials. Walgreen's(#6) and CVS (#7) both secured top spots.
Sears Holdings Corp.'s (#9) holiday layaway program and attractive private-label merchandise landed the company on the list.
Rounding out the top ten is Best Buy (#10), which benefited from sales of new iPhones and game stations like Wii and Playstation that remained popular investments for those making discretionary purchases.
The report was sponsored by ADT Retail Solutions and Tomax Retail.net.
Stores Media is the publishing and communications group of the NRF, the world's largest retail trade association.
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