US retail companies dominate the global retailing industry. Almost one-third of the first 250 largest retail companies in the world are based in the United States. This is according to
Global Powers of Retailing report. According to the report, five of the top ten retail companies in the world are US retail companies. Thirty of the world's largest retailers are from the US and 82 of the retailers on the entire Global Powers list of 250 retailers call the US their home.
Here are the top 10 retailers according to their ranks:
#1: Walmart
Wal-Mart emerged as both the largest retail chain in the U.S. and the largest retail organization in the world.
For the fiscal year ending January 31, 2009, Wal-Mart reported a net income of US$13.6 billion on US$404 billion of revenue (3.4% profit margin). Wal-Mart operates under its own name in the United States, including the 50 states and Puerto Rico. Wal-Mart operates in Mexico as Walmex, in the United Kingdom as Asda ("Asda Wal-Mart" in some branches), As Seiyu, in Japan, and Best Price in India.
Wal-Mart is currently facing a gender discrimination lawsuit. If the class action is certified, it would be the largest such lawsuit in history, covering 1.5 million women according to the plaintiffs.
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here.
#2: Kroger
Kroger reported US$76 billion in sales during fiscal year 2008. It is the country's largest grocery store chain and second-largest grocery retailer by
volume and second-place general retailer in the country next to Wal-Mart. As of the first quarter of 2009, Kroger operated, either directly or through its subsidiaries, 2,475 supermarkets, and had 798 fuel centers. Kroger is the parent company of the following stores: Food 4 Less, Fred Meyer, Fry's, Kroger Food an Drug, Loaf 'N Jug, QFC, Quik Stop, Smith's Food and Drug, Turkey Hill, etc.
#3: The Home Depot
The Home Depot is the largest home improvement retailer in the United States, ahead of rival, Lowes. Estimated revenue for the Fiscal Year 2009 is US$71.3 Billion. The retailer has more than 2,200 stores in the United States, Canada, Mexico, and China.
In 2008 and 2009, with the downturn in the housing market, The Home Depot announced the layoff of several thousand associates, as well as the closing of 54 stores nationwide, including the entire EXPO Design Center chain. In the year to February 2009 sales totaled $71.288 billion, more than $20 billion down from the peak of two years earlier due to the sale of HD Supply and falling revenue at the retained business.
In another news,
Home Depot agreed to pay the plaintiff's counsel $6 million in cash and $8.5 million in common stock.
#4: Costco
Although Sam's Club has more warehouses than Costco, Costco has higher total sales volume. Costco employs about 142,000 full- and part-time employees, including seasonal workers. As of September 2009 Costco had 55 million members. For fiscal year 2009, which ended on August 31, 2009, the company's sales totaled $71.42 billion, $1.28 billion of the revenue was net profit.
Costco became the first company ever to grow from zero to $3 billion in sales in less than six years.
#5: Target
Despite its customer unfriendly policies which make a gift return difficult or impossible, Target ranked fifth from Top 10 US retailers' list, and number 28 on the Fortune 500 as of 2009 with an estimated revenue of US$64.948 Billion.
As of January 2010, Target Corporation operated 38 distribution centers across the United States. The company opened two new distribution centers in 2006 (Rialto, California and DeKalb, Illinois) and one in 2009 (Newton, North Carolina) to support the growth of its stores.
In July 2007, Target Corporation was fined $120,000 by the United States Environmental Protection Agency for selling outlawed aerosol confetti string.
#6: Walgreens
Walgreen ranked #8 as one of 2009 Best Companies to Launch A Retail Career (Out of 69 Companies Ranked). With an estimated Total asset of US$25.1 Billion for the Fiscal year 2009, Walgreens (without an apostrophe), is currently the largest drugstore chain in the United States. The company operates over 7,500 drugstores across all 50 states, the District of Columbia and Puerto Rico.
Want to work for Walgreens?
#7: CVS Caremark
It could be true that there were alleged deceptive business practices of CVS in the past such as, health and medical fraud, and famous for selling expired products, CVS managed to rank the 7th largest retailer in the US with an estimated employees of 200,000 and a whopping US$98.729 Billion in total revenue in 2009. CVS is an integrated pharmacy services provider, combining a United States pharmaceutical services company with a U.S. pharmacy chain. CVS Caremark provides pharmacy services through its over 7,000 CVS/pharmacy.
There was a landmark case against
CVS Caremark which agrees to pay $38.5M to settle allegations that it did not pass on rebates, discounts to patients, and employers.
#8: Lowes
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Lowe's is the second-largest hardware chain in the U.S. behind The Home Depot and ahead of Menards. Globally, Lowe's is also the second-largest hardware chain, again behind The Home Depot. With an estimated employees of 238,000 as of 2009 and revenue of US$47.2 Billion of the same year.
Just like any prominent company, Lowe's was not spared from lawsuits. There was a case when the company settled issues with its employees on overtime:
Employee Overtime that cost Lowes nearly US$30 million. And here
#9: Sears Holdings
SEARS is the ninth largest retailer by annual revenue in the United States. Lowes has a total asset of US$25.3 Billion for the fiscal Year 2009 and an estimated employees of 337,000.
The company operates 3,900 retail locations under the mastheads of Sears, Sears Grand, Sears Essentials, Sears Hardware, Kmart, Big Kmart, Super Kmart, The Great Indoors, Orchard Supply Hardware, and Lands' End stores.
#10: BestBuy
BestBuy ranks 10th in the Top 10 retailers in the US. The retailer also ranked in the Top 10 of "America's Most Generous Corporations" by Forbes magazine, and made Fortune Magazine's List of Most Admired Companies in 2006.
Best Buy was named "Company of the Year" by Forbes magazine in 2004, "Specialty Retailer of the Decade" by Discount Store News in 2001. That's the positive side of the company. But there were instances where it involved itself into some form of controversies. For instance, in 2001, BestBuy was involved in extended warranties controversies or service plans it offered to its customers. The case progresses and BestBuy ultimately settled for $200,000, but admitted no wrongdoing.
Another similar case in 2009, In April 2008, the U.S. Federal Communications Commission (FCC) fined Best Buy $280,000 for not alerting customers that the analog televisions they sold would not receive over-the-air stations after the digital transition on June 12, 2009.
Want to work for Bestbuy?
More sources here:
Chicago Tribune
Great companies become prominent in their respective niches in due time because of their adherence to excellent business practices and innovative marketing strategies. However, there were times when these same companies have had engaged themselves to alleged fraudulent practices. And when they happen, they became the subject of lawsuits, criticism, and negative publicity. RGIS has its own share of lawsuits and criticism, particularly on
Employee Overtime Lawsuit
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