The world’s top 25 retailers report revenue growth of 7.1% year-on-year

Despite the challenges of high inflation rates, labor shortages and supply chain disruptions, Top 25 global publicly traded retailers achieved remarkable year-over-year (YoY) revenue growth of 7.1% to $3.5 trillion in 2022. The industry around the world reaped the benefits of the circumstances induced by the COVID-19 pandemic, as consumers were forced to change their online shopping habits, reveals GlobalData, a leading data and analytics company.

Ragupathy Jayaraman, Business Fundamentals Analyst at GlobalDatacomments: “Pharmaceutical and home improvement retailers experienced notable advantages due to lockdown restrictions in 2022. Major online retailers such as Amazon,, and Alibaba achieved a CAGR compound annual growth rate of more than 20%. in revenue during 2018-2022”.

An analysis of GlobalData’s database of company reports reveals that of the top 25 publicly traded retailers, Alimentation Couche-Tard, Seven & i, Costco and CVS Health posted double-digit year-over-year revenue growth.

Jayaraman Explain: “Alimentation Couche-Tard topped the list with revenue growth of 37.3% and a CAGR of 5.1% from 2018 to 2022, driven primarily by higher trucking fuel sales price and the positive impact exchange rates«.

Seven & i witnessed 35% year-over-year growth in revenue thanks to substantial volume growth across its North American operations. Costco’s expansion initiatives in domestic markets helped the company post 15.8% year-over-year revenue growth in 2022. CVS Health witnessed 10.4% year-over-year revenue growth due to a significant increase in pharmacy claims, prescription and front-line drug volumes, and higher sales of COVID-19 over-the-counter test kits.

Other major winners include Walmart, Amazon,, Kroger, Tesco and Albertsons., which reported a growth of more than 5% in their revenue. In terms of operating profit, 65% of the top 25 retailers reported growth of more than 5%, with three companies (Sainsbury’s, Alibaba and recording growth of more than 50%.

In fiscal 2022, more than 50% of the top 25 retailers reported year-over-year growth in net profit, with six retailers recording growth of more than 30%.

Jayaraman concludes: “Retailers are constantly looking to refocus their strategic investments and planning efforts due to various factors, including changing consumer behavior, investor sentiment, and government regulations. Companies are focusing more on improving their digital supply chain management to expand and optimize business operations”.

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