A Look at the World's Largest Retail Companies by Revenue
In the dynamic and fiercely competitive world of commerce, a select group of retail giants stands tall, continuously reshaping consumer behavior and market trends.
These colossal corporations, spanning continents and diverse product categories, have mastered the art of scale, efficiency, and customer engagement to generate staggering revenues. The global retail landscape is dominated by a handful of established players and innovative disruptors, whose financial performance offers a compelling glimpse into the industry's present strength and future trajectory.
The global retail landscape continues to be dominated by a few major players, with American giants consistently leading in revenue. These companies leverage vast physical store networks, robust e-commerce platforms, and diverse product offerings to maintain their top positions. As of mid-2025, the top spots are largely held by familiar names, showcasing their enduring influence in the consumer market.
Here's a look at some of the largest retail companies globally based on their recent reported revenues:
Rank | Company Name | Home Country | Total Company Revenues (Billions USD) | Primary Business Foundation |
1 | Walmart | USA | $681 | Hypermarket/Supercenter/Superstore |
2 | Amazon | USA | $638 | Non-store (E-commerce) |
3 | Schwarz Group | Germany | $182 | Discount Store |
4 | Aldi | Germany | $155 | Discount Store |
5 | Costco Wholesale Corporation | USA | $242 | Cash & Carry/Warehouse Club |
6 | The Home Depot | USA | $155 | Home Improvement |
7 | CVS Health | USA | $373 | Healthcare/Pharmacy |
8 | Ahold Delhaize | Netherlands | $99 | Supermarket |
9 | Seven & I Holdings | Japan | $90 | Convenience/Forecourt Store |
10 | Carrefour | France | $94 | Hypermarket/Supercenter/Superstore |
Note: Revenue figures are approximate and based on the most recent publicly available data, primarily from 2024-2025 fiscal reporting. Some sources may combine total company revenue while others focus solely on retail revenue, leading to slight variations.
Insights into the Leaders:
Walmart consistently holds the top spot, a testament to its massive global footprint and diversified offerings across various retail formats. Its strong brick-and-mortar presence, combined with growing e-commerce capabilities, continues to drive its unparalleled revenue.
Amazon remains a formidable contender, rapidly closing the gap with Walmart. While known for its e-commerce dominance, its growth is also fueled by its cloud services (AWS), which contribute significantly to its overall profitability. Amazon's continuous innovation in logistics and digital services keeps it at the forefront of the retail industry.
German discount retailers like Schwarz Group (which includes Lidl and Kaufland) and Aldi demonstrate the strong performance of value-oriented models, particularly in Europe. Their focus on efficiency and competitive pricing resonates strongly with consumers.
Costco continues to thrive with its membership-based warehouse club model, appealing to both individual consumers and businesses seeking bulk purchases and discounted goods.
The inclusion of CVS Health highlights the increasing convergence of healthcare and retail, with pharmacy services and health-related products becoming significant revenue drivers for these large corporations.
The retail industry is dynamic, with ongoing shifts influenced by e-commerce growth, consumer spending habits, and global economic conditions. While the top positions may see minor fluctuations, the sheer scale and strategic investments of these retail giants ensure their continued dominance in the foreseeable future.
Walmart's Sustained Growth: A Look at Its Sales Revenue
Walmart, the world's largest retailer by revenue, continues to demonstrate remarkable financial strength and consistent growth across its global operations. Leveraging its expansive network of physical stores, significant e-commerce presence, and diverse product categories, the company maintains its position as a retail powerhouse.
For its fiscal year 2024 (which ended January 31, 2024), Walmart reported impressive revenue figures, solidifying its lead in the retail sector. The company's strategic investments in e-commerce, supply chain optimization, and a strong focus on grocery and health & wellness categories have been key drivers of its sustained performance.
Here's a snapshot of Walmart's annual total revenues over recent fiscal years:
Fiscal Year (Ended January 31) | Total Revenues (Billions USD) | Year-over-Year Growth (%) |
2025 (Projected) | $680.985 | 5.07% |
2024 | $648.125 | 6.03% |
2023 | $611.289 | 6.73% |
2022 | $572.754 | 2.43% |
2021 | $559.151 | 6.72% |
2020 | $523.964 | 1.86% |
Note: Data for fiscal year 2025 includes projections and the most recent TTM (Trailing Twelve Months) data available. Walmart's fiscal year ends on January 31st.
Key Drivers of Walmart's Revenue:
Walmart U.S.: This segment consistently contributes the largest portion of Walmart's revenue, driven by strong performance in groceries, general merchandise, and the increasing adoption of its pickup and delivery services.
E-commerce Growth: Walmart has made significant strides in its e-commerce capabilities, with digital sales continually growing. Investments in faster delivery options, the Walmart+ subscription service, and an improved mobile app have been crucial in competing with online-only retailers.
Sam's Club: The membership-based warehouse club division continues to be a strong performer, appealing to both individual and business customers seeking bulk purchasing and value.
Walmart International: Despite global economic fluctuations, Walmart's international operations contribute a substantial amount to its overall revenue, with key markets showing consistent growth.
Strategic Investments: The company's ongoing investments in technology, supply chain enhancements, and store modernization projects are designed to improve efficiency, customer experience, and ultimately, drive sales.
Walmart's ability to adapt to evolving consumer behaviors and maintain its competitive edge through strategic investments positions it for continued strong revenue generation in the years to come.
Amazon's Revenue: A Deep Dive into Its Sales Performance
Amazon, a global technology and retail behemoth, continues to be a dominant force in the global economy. Its diversified business model, encompassing e-commerce, cloud computing, advertising, and subscription services, has consistently driven impressive revenue growth. The company's relentless focus on customer experience, technological innovation, and expansion into new markets underpins its financial success.
As of early 2025, Amazon's trailing twelve months (TTM) revenue stands at over $650 billion, showcasing its enormous scale and ongoing expansion. Its annual revenue for fiscal year 2024 (ended December 31, 2024) exceeded $637 billion, marking another year of strong double-digit growth.
Here's a look at Amazon's annual total net sales over recent fiscal years:
Fiscal Year (Ended December 31) | Total Net Sales (Billions USD) | Year-over-Year Growth (%) |
2025 (TTM/Projected) | $650.31 | 1.94% |
2024 | $637.96 | 10.99% |
2023 | $574.79 | 11.83% |
2022 | $513.98 | 9.40% |
2021 | $469.82 | 21.70% |
2020 | $386.06 | 37.62% |
Note: "TTM" (Trailing Twelve Months) for 2025 reflects the sum of the last four reported quarters, which may include a portion of the current calendar year. Amazon's fiscal year aligns with the calendar year.
Key Segments Driving Amazon's Revenue:
Amazon's revenue is generated across several key segments, each contributing significantly to its overall financial health:
Online Stores: This remains the largest component of Amazon's revenue, encompassing direct product sales through Amazon.com and its international marketplaces. While still dominant, its percentage share of total revenue has been gradually declining as other segments grow faster. In FY 2024, it accounted for approximately 38.7% of total revenue.
Third-Party Seller Services: This segment includes commissions, fulfillment fees (FBA - Fulfillment by Amazon), and other seller services. It represents a rapidly growing and highly profitable part of Amazon's business, enabling millions of independent sellers to reach Amazon's vast customer base. It contributed around 24.5% of total revenue in FY 2024.
Amazon Web Services (AWS): AWS is Amazon's cloud computing arm and a major profit driver. It provides a comprehensive suite of cloud services to businesses, governments, and academic institutions worldwide. AWS has consistently demonstrated strong growth and is a critical component of Amazon's enterprise value. In FY 2024, AWS accounted for approximately 16.9% of total revenue.
Advertising Services: Leveraging its extensive customer data and high traffic, Amazon's advertising business has become a significant and fast-growing revenue stream. This includes sponsored product ads, display advertising, and other promotional services for brands selling on Amazon. It made up about 8.8% of total revenue in FY 2024.
Subscription Services: This segment primarily includes Amazon Prime memberships, which offer benefits like free shipping, video streaming (Prime Video), music, and more. This recurring revenue stream fosters customer loyalty and drives increased engagement across Amazon's ecosystem. It contributed around 7.0% of total revenue in FY 2024.
Physical Stores: This includes sales from Amazon's physical retail footprint, such as Whole Foods Market, Amazon Go stores, and Amazon Fresh. While a smaller portion of overall revenue (around 3.3% in FY 2024), it represents Amazon's continued efforts to integrate online and offline retail experiences.
Amazon's strategic investments in its core e-commerce business, coupled with the robust performance of AWS and the rapid expansion of its advertising and third-party seller services, underscore its multifaceted growth strategy. This diversified approach ensures resilience and continued leadership in the ever-evolving global market.
Schwarz Group: The European Retail Giant's Revenue Growth
The Schwarz Group, a German multinational retail powerhouse, stands as the largest retailer in Europe and one of the top five globally. Primarily known through its immensely popular discount supermarket chains, Lidl and Kaufland, the group has cultivated a unique and highly efficient business model that prioritizes cost leadership, private labels, and a comprehensive control over its value chain.
Beyond its retail operations, the Schwarz Group's integrated ecosystem includes its own food production facilities (Schwarz Produktion), environmental services (PreZero), and a growing digital and IT division (Schwarz Digits), contributing to its robust revenue streams and strategic independence.
For its fiscal year 2024, the Schwarz Group continued its impressive growth trajectory, demonstrating resilience in a challenging economic climate.
Here's a look at Schwarz Group's total sales revenue over recent fiscal years:
Fiscal Year | Total Sales Volume (Billions EUR) | Year-over-Year Growth (%) |
2024 | €175.4 | 4.9% |
2023 | €167.2 | 8.5% |
2022 | €154.0 | 15.4% |
2021 | €133.6 | 7.2% |
2020 | €125.3 | 9.6% |
Note: Schwarz Group's fiscal year typically aligns with the calendar year. Figures are based on publicly reported data.
Key Drivers of Schwarz Group's Revenue:
Lidl: As the primary engine of the Schwarz Group's revenue, Lidl operates approximately 12,200 discount stores across numerous countries (as of 2023 data), offering a lean assortment of mostly private-label products at highly competitive prices. Its focus on efficiency and value proposition has resonated strongly with consumers globally. In FY 2024, Lidl's store sales alone increased by 5.3% to €132.1 billion.
Kaufland: This hypermarket chain, with around 1,450 branches, provides a broader range of products compared to Lidl, including a strong focus on fresh food. Kaufland also contributes significantly to the group's overall sales, achieving 2.9% growth in FY 2024 with sales of €35.2 billion.
Schwarz Produktion: The group's own production companies manufacture a substantial portion of the private-label goods sold in Lidl and Kaufland stores, including beverages, baked goods, chocolate, and pasta. This vertical integration provides quality control, cost efficiency, and a steady supply chain, contributing €4.6 billion in sales in FY 2024 (a nearly 10% increase).
PreZero: This environmental services division focuses on waste management and recycling. While primarily serving the internal needs of the Schwarz Group, PreZero also works with external clients, contributing to the group's diversified revenue and commitment to the circular economy. PreZero increased its sales by over 5% to just under €4 billion in FY 2024.
Schwarz Digits: A newer but strategically important division, Schwarz Digits provides cloud computing services, cybersecurity, and artificial intelligence solutions. While still developing externally, it supports the group's digital transformation and generated €1.9 billion in sales in FY 2024, maintaining the previous year's level.
The Schwarz Group's ability to maintain strong revenue growth, even during periods of economic volatility, underscores its effective discount model, strategic vertical integration, and increasing diversification into complementary business areas. Its consistent expansion of its store network and ongoing investments in infrastructure and digital capabilities position it for continued success in the global retail arena.
Aldi's Discount Dominance: A Look at Its Sales Revenue
Aldi, the German-based discount supermarket chain, has solidified its position as a global retail force. Operating under two distinct groups – Aldi Nord and Aldi Süd – the company's success is rooted in its unwavering commitment to a no-frills, low-price model, a strong emphasis on private-label brands, and highly efficient operations. This strategy has resonated with consumers worldwide, especially in an era of increasing cost-consciousness.
Collectively, Aldi Nord and Aldi Süd represent a formidable retail entity, with a combined global turnover exceeding €112 billion (approximately $120 billion USD) in 2023. This impressive figure reflects significant growth, driven largely by international expansion and the appeal of its value proposition to a broad customer base.
Here's a snapshot of Aldi's combined global sales revenue over recent fiscal years:
Fiscal Year | Combined Global Sales Volume (Billions EUR) | Year-over-Year Growth (%) |
2023 | €112.0 | 8.7% |
2022 | €103.0 (approx.) | ~8.7% (estimated) |
2021 | €94.8 (approx.) | ~7.2% (estimated) |
2020 | €88.4 (approx.) | ~9.6% (estimated) |
Note: Aldi Nord and Aldi Süd operate as legally separate entities but are often reported collectively for global revenue figures. Specific year-over-year growth rates for earlier years are estimated based on reported growth for combined or individual entities.
Key Factors Driving Aldi's Revenue Growth:
Unbeatable Value Proposition: Aldi's core strength lies in its ability to offer consistently low prices on a focused assortment of goods, with a high proportion of quality private-label products. This appeals to a wide range of shoppers seeking to save money on their grocery bills.
Aggressive International Expansion: Both Aldi Nord and Aldi Süd have been actively expanding their store networks across key international markets, particularly in the United States and the United Kingdom. Aldi plans to open hundreds of new stores in the US by 2028 and further expand its footprint in the UK, signaling continued growth ambitions.
Operational Efficiency: Aldi's business model is built on extreme efficiency, from its streamlined store layouts and limited product selection to optimized supply chains and minimal marketing spend. These efficiencies allow the company to pass significant cost savings on to consumers.
Strong Private Label Strategy: A vast majority of products sold at Aldi stores are private-label brands, which provide higher profit margins compared to national brands. This strategy gives Aldi greater control over product quality and pricing, further strengthening its competitive edge.
Adaptation to Consumer Trends: While maintaining its core discount philosophy, Aldi has also shown flexibility in adapting to consumer trends, such as increasing its offering of organic, vegetarian, and vegan products, and improving its fresh produce sections to meet evolving demands.
Aldi's sustained revenue growth underscores the enduring power of the discount retail model. By focusing on essential needs, maintaining operational discipline, and strategically expanding its global presence, Aldi continues to capture market share and solidify its position as a major player in the global retail industry.
Costco's Bulk Success: A Look at Its Impressive Sales Revenue
Costco Wholesale Corporation, the membership-only warehouse club operator, continues to demonstrate robust financial performance, driven by its unique business model that prioritizes high volume, low prices, and a loyal membership base. The company's consistent growth in sales revenue highlights the enduring appeal of its value proposition to both individual consumers and businesses.
Costco's fiscal year ends on the Sunday closest to August 31st. For its most recently completed fiscal year, Fiscal Year 2024 (ended September 1, 2024), Costco reported strong net sales, reflecting its ongoing expansion and consistent demand for its products. Looking into Fiscal Year 2025, the company has continued to show impressive quarterly results.
Here's a look at Costco's total net sales over recent fiscal years, along with its performance in the current fiscal year (2025) to date:
Fiscal Period | Total Net Sales (Billions USD) | Year-over-Year Growth (%) |
FY 2025 (TTM ending May 31, 2025) | $268.78 | 5.94% |
FY 2024 (Ended Sep 1, 2024) | $254.45 | 5.02% |
FY 2023 (Ended Sep 3, 2023) | $242.29 | 6.76% |
FY 2022 (Ended Aug 28, 2022) | $226.95 | 15.83% |
FY 2021 (Ended Aug 29, 2021) | $195.93 | 17.49% |
FY 2020 (Ended Aug 30, 2020) | $166.76 | 9.21% |
Note: Fiscal Year data refers to the full fiscal year ending around August/September of the stated year. TTM (Trailing Twelve Months) for FY 2025 reflects the sum of the last four reported quarters, providing a more current view of performance.
Key Drivers of Costco's Revenue:
Membership Model: A significant portion of Costco's profitability comes from its membership fees, which reached over $4.8 billion in FY 2024. These recurring fees provide a stable revenue base and incentivize members to shop frequently to maximize the value of their membership. As of Q2 FY 2025, Costco had 78.4 million paid memberships and 140.6 million total cardholders, with a global renewal rate of 90.5%.
High Volume Sales: Costco's strategy of offering products in bulk at competitive prices drives high sales volumes. This benefits both the company (through strong supplier relationships and efficient inventory turnover) and the members (through significant savings).
Diversified Product Categories: Beyond groceries, Costco offers a wide array of products including electronics, apparel, home goods, and even services like optical and pharmacy, making it a one-stop shop for many consumers.
Global Expansion: Costco continues to expand its physical footprint internationally, opening new warehouses in various countries. This global reach contributes significantly to its overall revenue growth. The company plans to open 28 new warehouses in fiscal year 2025.
E-commerce Growth: While primarily a brick-and-mortar retailer, Costco has been steadily growing its e-commerce presence, offering online shopping and delivery services that complement its in-store experience. E-commerce sales continue to show strong growth, including a 34.4% surge in December 2024.
Costco's ability to combine a strong membership base with efficient operations and a compelling value proposition ensures its continued financial strength and relevance in the competitive retail landscape.
The Dominance of Retail Giants: A Look Ahead
The retail landscape, as evidenced by the revenue figures of industry leaders like Walmart, Amazon, Schwarz Group (Lidl and Kaufland), Aldi, and Costco, continues to be shaped by scale, efficiency, and adaptability. These companies have not only achieved immense financial success but have also fundamentally redefined how consumers shop and interact with products. Their sustained growth underscores several key trends that will likely continue to influence the global retail market.
Key Takeaways from the Leaders
Hybrid Retail Models are King: While Amazon soared to prominence through e-commerce, and Walmart built its empire on brick-and-mortar, both are increasingly adopting hybrid strategies. Walmart is aggressively expanding its online presence and delivery services, while Amazon is cautiously exploring physical retail with its Go stores and Whole Foods Market. This convergence highlights that success lies in offering seamless shopping experiences across all channels.
The Enduring Power of Value: The robust performance of discount retailers like Schwarz Group (Lidl, Kaufland) and Aldi, alongside the membership-based value proposition of Costco, clearly demonstrates that consumers are highly responsive to competitive pricing and perceived value. In an era of economic uncertainty, these models offer compelling reasons for shoppers to choose them repeatedly.
Diversification and Ecosystem Building: The most successful retail companies are not just selling products; they are building comprehensive ecosystems. Amazon's revenue is massively bolstered by AWS (Amazon Web Services), advertising, and subscription services, making it far more than just an online store. Similarly, Schwarz Group benefits from its own production facilities and environmental services. This diversification creates multiple revenue streams and strengthens their competitive moat.
Operational Excellence and Supply Chain Mastery: A common thread among these giants is their unparalleled operational efficiency and sophisticated supply chains. Whether it's Walmart's global logistics network, Amazon's fulfillment centers, or Aldi's lean store operations, the ability to deliver products efficiently and cost-effectively is paramount to their financial health.
Global Reach as a Growth Driver: Each of these companies has a significant international footprint, constantly seeking new markets for expansion. While their home markets provide a strong base, global expansion is crucial for continued growth and mitigating risks associated with reliance on a single economy.
The Road Ahead
Looking forward, the retail sector will undoubtedly face continued evolution. Technological advancements, shifting consumer preferences towards sustainability and convenience, and potential economic fluctuations will challenge even these titans. However, their established scale, financial strength, and proven ability to innovate suggest they are well-positioned to adapt and maintain their leadership.
The relentless pursuit of customer satisfaction, coupled with strategic investments in technology, logistics, and diversified offerings, will remain critical for these retail giants to not only maintain their market share but to expand it further in the coming years.