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Amazon, Walmart, CVS Health lead list of top 25 retailers tops in revenue

Amazon, Walmart, CVS Health lead list of top 25 retailers tops in revenuePhoto by

The top 25 retailers, by revenue, won't surprise many in the retail industry.

The top three are Walmart, Amazon and CVS Health, respectively, according to a GlobalData report on retailers' growth in revenue for the fiscal year of 2021. Costco landed in fourth place, while Home Depot took the fifth spot.

Half of the top 25 publicly traded global retailers reported more than 8% year-on-year growth in revenue despite pandemic-related challenges, according to press release on the GlobalData findings. The data and analytics company noted in a press release that retailers worldwide were able to quickly adapt to COVID-19 challenges by swiftly improving e-commerce options.

Pharmaceutical retailers and home improvement/gardening supply retailers also benefited from lockdowns.

"All 25 of the retailers we tracked implemented measures to expand their business operations during the COVID-19 period. Major online merchants such as Amazon, and Alibaba gained a revenue growth of above 20% in FY2021. Further, they saw a compound annual growth rate of more than 25% during the 2017–2021 period, driven by a significant increase in the number of annual active customers as buyers preferred to shop online," Divya Vootkuru, business fundamentals analyst at GlobalData, said in the release.

According to GlobalData's ranking, pharmaceutical retailers CVS Health and Walgreens Boots Alliance (Walgreens) saw 8% revenue growth in 2021.


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