“The way to achieve your own success is to be willing to help somebody else get it first.” — Iyanla Vanzant
National Retail Jun 13, 2016 Martin Drake, Bisnow.
The 2016 Fortune 500 list came out last week; here are the top 10 retailers on the list, amid the growing battle of e-commerce vs. brick-and-mortar.
Walmart CEO: Douglas McMillon HQ: Bentonville, AR Spot on the list: 1 Years on the list: 22 Employees: 2,300,000 Walmart retained its top spot on the list from last year, with revenues staying essentially the same. The retail giant is faring well in the war of bricks vs. clicks, as it now holds the spot of the largest online retailer apart from Amazon.
CVS CEO: Larry Merlo HQ: Woonsockt, RI Spot on the list: 7 Years on the list: 22 Employees: 199,000 The drugstore chain is still hurting from its decision to stop selling cigarettes, but nonetheless was able to move up three spots in the rankings from last year. CVS is also trying to push healthier food at its stores to heighten its image as a healthcare company.
Costco CEO: Craig Jelinek HQ: Issaquah, WA Spot on the list: 15 Years on the list: 22 Employees: 161,000 The wholesaling giant has outperformed fellow bulk retailer Sam’s Club every quarter, bolstered by store locations in more affluent areas. The store’s $15B/year store brand Kirkland is growing in popularity, no doubt helping matters.
Kroger CEO: Rodney McMullen HQ: Cincinnati, OH Spot on the list: 17 Years on the list: 22 Employees: 431,000 Kroger’s profits rose 18% over last year, as it stays strong despite Walmart’s foray into groceries over the past decade. Kroger also has a strong private-label line, and maintains its spot as the US’s second-largest food retailer.
Walgreens CEO: Stefano Pessina HQ: Deerfield, IL Spot on the list: 19 Years on the list: 22 Employees: 302,500 Partnerships with the unicorn Theranos (now under federal scrutiny) and stumbling drug company Valeant have plagued CVS’s biggest competitor in the drugstore business, but it still saw an increase from 35th on the list last year. The company is still integrating its new acquisition, Alliance Boots, but the latter’s makeup products have helped Walgreen’s profit margins.
Home Depot CEO: Craig Menear HQ: Atlanta, GA Spot on the list: 28 Years on the list: 22 Employees: 385,000 Home Depot has bucked the trend of struggling retailers by integrating its online and in-store services—and has a 10.5% increase in profits to show for it. Conor Flynn, CEO of Kimco Realty (Home Depot is its largest tenant) says the do-it-yourself store’s success is helping the retail REIT hit the “sweet spot” of retail.
Target CEO: Brian Cornell HQ: Minneapolis, MN Spot on the list: 38 Years on the list: 22 Employees: 341,000 Target is experiencing a rebirth after being plagued by fallout from its a massive data breach. The retailer is also investing heavily in e-commerce, growing it faster than both Amazon and Walmart.
Lowe’s CEO: Robert Niblock HQ: Mooresville, NC Spot on the list: 47 Years on the list: 22 Employees: 225,000 Lowe’s, like Home Depot, is seeing the fruits of the US housing boom—one that just pushed household wealth up to record levels. The company has reaped winnings from Sears’ struggles in the appliance business, and has just become a major player in the Canadian market.
Best Buy CEO: Hubert Joly HQ: Richfield, MN Spot on the list: 71 Years on the list: 22 Employees: 125,000 Best Buy has stayed relevant in the the e-commerce world by renovating its tech-assistance (the Geek Squad) and partnering with Apple (the other geek squad?). The electronics retailer is still struggling, though, with a 27% drop in profits over the past year.
Publix CEO: Todd Jones HQ: Lakeland, FL Spot on the list: 87 Years on the list: 22 Employees: 180,000 Slow and steady wins the race for Publix. The supermarket chain has steadily gained market share over the past eight years, and has just taken on its first CEO from outside the Crenshaw family, Todd Jones. Jones is taking the world’s largest employee-owned company north with a 2017 expansion into Virginia.
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