Walmart ranks first on the top 25 global retailers survey
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Walmart ranks first on the top 25 global retailers survey

Walmart ranks first on the top 25 global retailers survey

According to GlobalData’s ranking, half of the top 25 global retailers reported more than 8 per cent year-on-year growth in revenue despite the pandemic

Zubina Ahmed

Walmart topped the list of top 25 global retailers, according annual revenue data compiled by GlobalData, a data and analytics company.

According to the ranking, half of the top 25 global retailers reported more than 8 per cent year-on-year (YoY) growth in revenue despite pandemic-related challenges. They were able to quickly adapt to Covid-19 challenges by swiftly improving e-commerce options. Meanwhile, pharmaceutical retailers and home improvement/gardening supply retailers also benefitted from lockdowns.

“All 25 of the retailers we tracked implemented measures to expand their business operations during the Covid-19 period. Major online merchants such as Amazon, JD.com and Alibaba gained a revenue growth of above 20 per cent in FY2021. Further, they saw a compound annual growth rate (CAGR) of more than 25 per cent during the 2017–2021 period, driven by a significant increase in the number of annual active customers as buyers preferred to shop online,” said Divya Vootkuru, business fundamentals analyst at GlobalData.

Pharmaceutical retailers CVS Health and Walgreens saw 8 per cent revenue growth in 2021. GlobalData also notes that home improvement and gardening supply retailers saw positive growth in operational and net earnings, including Home Depot (more than 7 per cent) and Lowe’s (more than 20 per cent).

Of the top 25 retailers, Seven & I was the only retailer to report double-digit revenue growth, at 43.2 per cent YoY and 9.3 per cent CAGR.  Meanwhile, JD.com was the only major player to record a YoY decline of over 60 per cent in operating profit and net profit.

“Other big gainers were Target, Ahold Delhaize, Tesco, Sainsbury’s, Nike, Albertsons and AEON, which all reported more than 50 per cent growth in their operating profits.

In terms of profitability, 70 per cent of the top 25 retail companies reported positive YoY growth, with three companies (Nike, Sainsbury’s and Walgreens) recording more than 100 per cent growth.”

In the fiscal year 2021, over 80 per cent of the top 25 retail companies reported YoY growth in their net profits, with 11 retailers recording more than 50 per cent growth.

As the world’s largest retailer, Walmart  found a way to thrive throughout the pandemic overcoming supply chain issues. They also nabbed the first spot on the top 50 global retailers list in 2022, compiled by the National Retail Federation (NRF) and Kantar, a data, insight and consultancy company.

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