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Two Portuguese companies climb 8 places among the 250 largest global retailers

The latest “Global Powers of Retailing” report, published by Deloitte today, positions the American retail giant Walmart at the top, boasting retail revenues of approximately 650 billion dollars (575.795 billion euros), marking a 6% increase from the previous year.

Following are Amazon.com and Costco, also American companies, with revenues nearing 252 billion dollars (around 223.210 billion euros) and around 240 billion dollars (approximately 212.580 billion euros) respectively.

The report highlights that nearly a third of the retail revenues for these three corporations is generated from international operations: 31.8% for Walmart, 31.2% for Amazon.com, and 27.1% for Costco.

Portugal’s Jerónimo Martins and Sonae are the only two Portuguese firms featured in the ranking of the world’s 250 largest retailers.

The Pingo Doce owner ranks 37th, climbing eight spots from the previous edition, with a growth of 20.6% and consolidated revenues surpassing 33 billion dollars (approximately 29.230 billion euros).

Sonae also advances eight positions, reaching 138th place, with a growth rate of 8.9% and consolidated revenues of 9.134 billion dollars (8.090 billion euros).

The study concludes that the top 250 global retail companies amassed over six trillion dollars (over 5.3 trillion euros) in revenues for the fiscal year 2023 (fiscal years ending by June 30, 2024), reflecting a 3.6% increase from the previous period.

Despite this growth, it marks the slowest progression recorded in over a decade.

The top 10 retailers, collectively responsible for 34.9% of total revenues (more than two trillion dollars or 1.772 trillion euros), registered a 4.9% rise compared to the previous year.

Among these top 10, seven are American, two are German (Schwarz Group and Aldi), and one is Chinese: JD.com, a leading player in China’s e-commerce market.

The “diversified” sector saw the highest increase in its share (8.3%), followed by “apparel and accessories” (7.9%), “sporting goods and leisure” (6.7%), and “fast-moving consumer goods” (5.6%).

In a press release, João Paulo Domingos, a partner and leader of Deloitte’s Consumer industry, states, “The last few years have been challenging for retailers due to inflationary pressures, more cautious consumers, technological advancements, and geopolitical instability.”

These factors, he notes, “have led to more moderate growth among leading retailers compared to previous periods.”

Besides providing an overview of the retail, wholesale, and distribution sectors, the “Global Powers of Retailing 2025” highlights several industry trends and strategies employed by business leaders.

The report indicates that the sector is undergoing a significant transformation due to various key factors, including the need for operational efficiency, incorporation of cutting-edge technology, a continued focus on sustainability, and the pursuit of alternative revenue sources.

“Retail companies are navigating a volatile economic environment, making profitability an objective that requires complex strategic planning and flexibility,” it states, observing that “leading retailers are cautious about their economic forecasts, reflecting the impact of economic uncertainty on the sector.”

Based on a global growth forecast over five years, which is “the lowest in recent decades” at 3.1%, retailers “are likely to continue facing more moderate demand.”

“To remain competitive, retail companies are starting to leverage their existing assets to generate new revenue streams, with customer data becoming particularly valuable in this regard. When combined with advertising opportunities at the point of sale, these data create substantial growth potential for sales,” it concludes.

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