13 Retail Giants Most Likely to Thrive Amid the Pandemic
The nationwide lockdown has been an economic disaster, but these stores are thriving.
The nearly nationwide lockdown brought about by the coronavirus pandemic has cratered the U.S. economy. But not every single business has been hit the same. In fact, roughly a dozen retail giants have actually been set up for success in this dystopian time. Forbes just released the Global 2000, a list of the 2,000 largest companies in the world in 2019, and it included 13 U.S.-based retail companies.
With most non-essential businesses shut down since March, Americans have increasingly turned to these retailers to help procure items necessary to not just get through life in lockdown, but also to find a sense of normalcy. So it's no wonder that the following stores 13 that made bank last year are still thriving during this pandemic. And for more on life after quarantine, check out 10 Weird Ways Life Will Be Different After the Coronavirus Lockdown.
Walmart had long been the world's largest retailer, but in 2018, it lost the top spot to Amazon. Well, good news for Bentonville, Arkansas: Walmart had a bigger 2019 than their Seattle-based online retail rival. Walmart brought in over $500 billion in revenue last year, from which they enjoyed nearly $15 billion in profits, adding up to an overall market value of roughly $345 billion. No wonder they can afford to give bonuses to their hourly wage workers. And for more on how the virus has affected Walmart, check out 7 Major Ways Walmart Won't Be the Same After Coronavirus.
The online retail giant is the second-largest U.S. retailer of 2019, which may surprise you, given the reliance on online purchasing during the lockdown. Figures, however, are from the past year, so the sharp online sales from 2020 will likely see Amazon return to the top of Forbes' list next year. Nonetheless, Amazon is credited with over $295 billion in revenue last year, including roughly $11 billion in profits, adding up to an overall market value of roughly $1.2 trillion. And if you're interested in some of Amazon's streaming options, check out These Are the Best Amazon Prime Shows to Stream While in Quarantine.
The largest drug store chain in the nation came in third among U.S. retailers. CVS gets credit for over $255 billion in revenue last year, from which they enjoyed roughly $7 billion in profits. Their overall market value comes in at $80 billion.
Home Depot upped its bitter rival, Lowe's in 2019 clocking revenue of roughly $110 billion with profits over $11 billion.
Walgreens is the second national drug store chain to show up on Forbes' list, bringing in $140 billion in annual revenue that led to $3.5 billion in profits.
Costco has been all over the news during the coronavirus, and the Washington-based retail club enjoyed a very healthy 2019, earning $158 billion in annual revenue that led to $4 billion in profits.
Lowe's is still second to Home Depot in the home improvement store category, but they will be pleased with their 2019 earnings, logging $72 billion in revenue and $4 billion in profits. And if you're looking to work on your house right now, check out 15 Great Home Projects to Tackle While You're Quarantined.
Target also had a stellar 2019, enjoying $78 billion in revenue and $3 billion in profit.
The discount retail warehouse boasted $43 billion in revenue and over $3 billion in profits. And they recently announced that they'll make their merchandise available online, which is sure to up those numbers for 2020.
Dollar General is the first of two discount retail stores to make Forbes' list. It clocked $28 billion in revenue in 2019 and roughly $2 billion in profits. And for more stores you won't see after the pandemic, check out 6 Beloved Stores You May Never Shop at Again Because of Coronavirus.
Best Buy is the first and only big-box consumer electronic store to make the list. The chain boasted $44 billion in revenue and roughly $1.5 billion in profits.
The second discount retail store to make the list, Dollar General netted $24 billion in revenue and roughly $1 billion in profits.
Ross Stores rounds out the list, bringing in $16 billion in revenue and roughly $2 billion in profits.