GlobalData Announces Top 25 Retailers by Revenue for 2021
WORLDWIDE - Despite the many challenges posed by the pandemic and the supply chain, many companies in the retail sector have showcased their ability to adapt, delivering year-over-year (YoY) growth to boost their bottom lines. According to results from GlobalData, a host of global retailers—including Albertsons, Walmart, and more—reported YoY growth of more than 8 percent in revenue.
As noted in a release, higher revenue, improved operational performance, and reduction in expenses led to an increase in the net earnings for Kroger, Sainsbury, Loblaw, Costco, Ahold Delhaize, Amazon, Carrefour, and Albertsons.
The release went on to explain that improvement in e-commerce allowed retailers to focus on shopper-centric initiatives. This in turn led to the development of new business models to help support consumers in contactless communication—something of which shoppers want more and more.
Some companies showcasing significant growth in the data and analytics company’s results include Walmart, Ahold Delhaize, Tesco, Albertsons, Sainsbury’s, and Walgreens, each of which reported more than 50 percent growth in their operating profits. Walgreens and Sainsbury’s were among the three companies that revealed more than 100 percent profit growth.
Part of this revenue success is due to the grocers’ abilities to adapt to the changing consumer behaviors sparked by the pandemic and swiftly improve their e-commerce options.
To read more about GlobalData’s Top 25 Retailers, click here.
Keep reading ANUK as we continue to track the growth of formidable industry players like these.