Report: Retail Sales Up, But Margins Drop

Even though we are in a global recession, the largest retailers in the world still found a way to increase sales by 5.5% in the 2008 fiscal year, which ended in June, according to a Deliotte Touche Tohmatsu report.

But at the same time, profitability fell from 3.7% to 2.4%, the report says. And of that 30 of the largest retailers operated at a loss during the period.

Also, the largest retailers switched places. Walmart retains its spot as the largest retailer by total sales, with French company Carrefour taking the second spot. But British retailer Tesco fell from third place to fourth, getting overtaken by German firm Metro.

The report has Kroger as the second-largest US retailer, in sixth place, followed by the Home Depot which came in seventh place globally.

ALSO, Foot Locker is the first chain this year to announced major store closures.


2 Responses to “Report: Retail Sales Up, But Margins Drop”

  1. 1 CubicleDweller January 12, 2010 at 11:15 am

    Footlocker’s impending store closures are no surprise. I visited a store just this past Saturday intending on purchasing a good pair of running shoes for me and a pair of basketball shoes for another family member. The term “sticker shock” would be an understatement. Nearly $200 for a pair of running shoes? No thank you. I’d rather run barefoot. This may seem cheap to some, but not to anyone who lives in my demographic area.

  2. 2 Dunkin'man January 13, 2010 at 5:56 pm

    somebody explain the dates to me???

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