In this article, we will be taking a look at the 20 biggest retail companies in the US. If you want to skip our detailed analysis of the retail industry, you can go directly to see the 5 Biggest Retail Companies in the US.
The Global Retail Industry at a Glance
The global retail industry drives consumer spending, contributes to GDP growth, and employs a large number of people globally. According to a report by Mordor Intelligence, the global retail industry is expected to reach a value of $32.68 trillion in 2024. The market is expected to grow at a compound annual growth rate (CAGR) of 7.65% from 2024 to 2029 and reach a value of $47.24 trillion by the end of the forecasted period.
Rising disposable income and increased consumer spending are key factors creating a positive outlook for the market. Innovation in retail technology, including artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and the Internet of Things (IoT), is fueling market growth. These technologies are expected to become more prominent to enhance the customer experience and meet changing consumer preferences during the forecasted period.
Key Market Players in the US Retail Sector
Some of the most prominent names in the US retail industry are Walmart Inc. (NYSE:WMT), Amazon.com Inc. (NASDAQ:AMZN), and Costco Wholesale Corporation (NASDAQ:COST). Let's discuss these companies in detail below.
Costco Wholesale Corporation (NASDAQ:COST) is a retail company that operates a chain of membership-only warehouses and retail stores. It offers quality merchandise at discounted prices by selling in bulk at lower margins. Costco Wholesale Corporation (NASDAQ:COST) is one of the largest retailers in the world and it ranks high among the best discount retailer stocks to buy as well. On March 7, Costco Wholesale Corporation (NASDAQ:COST) reported strong earnings for the fiscal second quarter of 2024. The company reported earnings per share (EPS) of $3.71, surpassing EPS estimates by $0.07. The company reported a revenue of $58.44 billion. Here are some comments from Costco Wholesale Corporation's (NASDAQ:COST) earnings call regarding its plans for fiscal 2024:
"And that puts the remainder of fiscal 2024 for Q3 and Q4, we plan on opening a total of 15 net new locations, 11 in the US, two in Japan, and one each in Korea and in China. Regarding CapEx, fiscal second quarter spend was approximately $1.03 billion. And for the year, it remains in the north of $4.4 billion to $4.6 billion, in that range."
Retail companies are embracing data analytics and customer insights to offer personalized shopping experiences. Technological innovations are further expected to enhance customer satisfaction. Amazon.com Inc. (NASDAQ:AMZN) is an American multinational online retail and technology company. It specializes in e-commerce, online marketing, cloud computing, and artificial intelligence. Amazon.com Inc. (NASDAQ:AMZN) is one of the best internet retail stocks to buy. On January 16, CNBC reported that Amazon.com Inc. (NASDAQ:AMZN) has introduced an artificial intelligence (AI) tool that can answer shoppers’ questions about specific products. The new feature, available on Amazon.com Inc.’s (NASDAQ:AMZN) mobile app, will quickly provide answers by summarizing information collected from product reviews and listings. This tool can help shoppers avoid scrolling through pages of reviews to find information about an item.
Retailers are also working on optimizing delivery processes to enhance customer experience. On March 7, Walmart Inc. (NYSE:WMT) announced the launch of a new On-Demand Early Morning Delivery service to help customers save time and offer convenience. Starting as early as 6 AM, this innovative solution will allow customers to receive their orders within 30 minutes, providing an early and quick solution for their shopping needs. With a wide range of items available both in-store and online, customers can easily access products like fashion, furniture, baby essentials, and more during the early morning hours. This initiative is part of Walmart Inc.’s (NYSE:WMT) ongoing efforts to enhance customer experiences and streamline delivery services.
Now that we have discussed what’s going on in the retail industry, let’s take a look at the 20 biggest retail companies in the US.
20 Biggest Retail Companies in the US
A wide view of an aisle in a specialty retailer, filled with licensed pop culture products, vinyls and action figures.
Methodology
In this article, we have listed the 20 biggest retail companies in the US. To find the top retail companies in America, we sifted through various sources including industry reports, our own rankings in addition to rankings available on various websites, and consulted stock screeners from Yahoo Finance and Finviz. For companies that are publicly traded, we decided to rank them according to their market capitalization as of March 8, 2024. We used fiscal year revenues to rank the companies that are not publicly traded. Finally, we narrowed down our selection to rank the 20 biggest retail companies in the US based on their market capitalization and revenues, which are listed below in ascending order.
Williams-Sonoma Inc. (NYSE:WSM) is an American consumer retail company that ranks among the top 20 biggest retail companies in the US. The company owns a number of brands and it sells kitchenware, appliances, and home furnishings. It operates retail stores in the US, Canada, Australia, and the United Kingdom. Williams-Sonoma Inc. (NYSE:WSM) has a market capitalization of $15.87 billion as of March 8, 2024.
Best Buy Co. Inc. (NYSE:BBY) is an American consumer electronics retailer. As one of the world’s largest specialty consumer electronics retailers, it has more than 1,000 stores in the US and Canada. As of March 8, 2024, Best Buy Co. Inc. (NYSE:BBY) has a market capitalization of $17.12 billion.
Walgreens Boots Alliance Inc. (NASDAQ:WBA) is an integrated healthcare, pharmacy, and retail company. As one of the world’s biggest pharmacy retailers, it has over 12,500 locations in the US, Europe, and Latin America. Walgreens Boots Alliance Inc. (NASDAQ:WBA) has a market capitalization of $18.05 billion as of March 8, 2024. It ranks 18th on our list of the 20 biggest retail companies in the US.
Ulta Beauty Inc. (NASDAQ:ULTA) is an American chain of beauty stores. As one of the largest beauty retailers in the US, it sells prestige cosmetics, fragrances, skincare, and hair care products. As of March 8, 2024, Ulta Beauty Inc. (NASDAQ:ULTA) has a market capitalization of $26.62 billion.
Tractor Supply Company (NASDAQ:TSCO) is an American retail chain of stores that sells products for agriculture, lawn and garden maintenance, home improvement, and livestock and pet care to home, land, pet, and animal owners. The company operates more than 2,200 stores in 49 states. As one of the top retail companies in the US, Tractor Supply Company (NASDAQ:TSCO) has a market capitalization of $26.88 billion as of March 8, 2024.
Dollar Tree Inc. (NASDAQ:DLTR) is an American retail corporation that operates a chain of discount variety stores. It ranks among the top 15 on our list of the biggest retail companies in the US. With more than 16,000 stores, Dollar Tree Inc. (NASDAQ:DLTR) operates in all 48 contiguous states and 5 Canadian provinces. As of March 8, 2024, Dollar Tree Inc. (NASDAQ:DLTR) has a market capitalization of $32.68 billion.
Dollar General Corporation (NYSE:DG) is a major discount retailer that operates a chain of variety stores. With more than 19,000 stores in the US, the corporation offers low prices on a wide variety of items including, food, snacks, cleaning supplies, housewares, and basic apparel. Dollar General Corporation (NYSE:DG) has a market capitalization of $34.88 billion as of March 8, 2024.
The Kroger Co. (NYSE:KR), commonly known as Kroger, is an American retail company that ranks 13th on our list of the biggest retail companies in the US. It operates retail stores, supermarkets, and multi-department stores. It also operates 170 fine jewelry stores and more than 2,200 pharmacies. As one of the largest retailers in the US, The Kroger Co. (NYSE:KR) has a market capitalization of $39.94 billion as of March 8, 2024.
Ross Stores Inc. (NASDAQ:ROST), operating under the brand name Ross Dress for Less, is one of the largest off-price retail chains in the US. Through its chain of discount department stores, it provides branded and designer apparel, accessories, footwear, and home fashions. As of March 8, 2024, Ross Stores Inc. (NASDAQ:ROST) has a market capitalization of $49.16 billion.
AutoZone Inc. (NYSE:AZO) is an American retailer and distributor of automotive replacement parts and accessories. It provides auto and truck parts, chemicals, and accessories through more than 6,000 store locations in the US. As one of the top retail companies in the United States, AutoZone Inc. (NYSE:AZO) has a market capitalization of $54.08 billion as of March 8, 2024.
10. Publix Super Markets
Revenue: $57.1 Billion
Publix Super Markets, or simply Publix, is a private company that ranks among the top 10 on our list of the biggest retail companies in the US. With more than 1,300 store locations, Publix Super Markets is the largest employee-owned supermarket chain in the United States. In 2023, Publix Super Markets generated a revenue of $57.1 billion.
O'Reilly Automotive Inc. (NASDAQ:ORLY) is an American auto parts retailer. It is a major supplier of automotive aftermarket parts, equipment, supplies, tools, and accessories to professional service providers and do-it-yourself customers. It currently has more than 6,000 stores in 48 US states and Puerto Rico and over 60 stores in Mexico. As of March 8, 2024, O'Reilly Automotive Inc. (NASDAQ:ORLY) has a market capitalization of $64.31 billion.
Target Corporation (NYSE:TGT) is an American retail corporation. As one of the largest retailers in the US, it operates a chain of discount department stores and hypermarkets. With more than 1,900 stores in the US and a market capitalization of $79.19 billion as of March 8, 2024, Target Corporation (NYSE:TGT) ranks 8th on our list of the 20 biggest retail companies in the US.
CVS Health Corporation (NYSE:CVS) is an American healthcare company that provides healthcare and retail pharmacy services. It offers a variety of products and services through its brands including Aetna, CVS Caremark, and CVS Pharmacy. CVS Pharmacy is one of the largest retail pharmacy chains in the US. CVS Health Corporation (NYSE:CVS) has a market capitalization of $93.5 billion as of March 8, 2024.
The TJX Companies Inc. (NYSE:TJX) is an American multinational off-price department store corporation that offers deep discounts on selections of high quality, fashionable, brand name and designer merchandise. It is a major off-price retailer of apparel and home fashions in the US. The TJX Companies Inc. (NYSE:TJX) has more than 4,800 stores and the company has a presence in nine countries. With a market capitalization of $109.13 billion as of March 8, 2024, it ranks 6th on our list of the 20 biggest retail companies in the US.
