U.S. Top Retailers · 2025

Top U.S. Retailers

The 43 largest U.S. retailers, ranked on one basis: what American shoppers actually bought from them. That means merchandise GMV, including third-party marketplace sales, with fuel, membership fees, advertising and non-retail businesses taken out. Switch between total and digital GMV, and between the 2025 ranking and the change from 2024. Pairs with the Retailer Comps Tracker and U.S. Retail Sales Data.

Fiscal 2025 vs 202443 retailers rankedPublic sources onlyUpdated 2026-10-08

The ranking

Pick a measure and a view. In the ranking view, the thin tick on each bar marks 2024 and the percentage is the retailer’s share of the U.S. market. In the change view, bars below zero are orange. Hover or tap a bar for the details.

Measure

View

Format

Source: company 10-K and 10-Q filings and earnings releases, U.S. Census Bureau, NRF Top 100 (compiled by Kantar), Marketplace Pulse, Momentum Works, Appfigures, World Bank. RetailGeek analysis. Fiscal years.

Why another top retailers list?

Most rankings of the largest U.S. retailers are misleading. They aren’t wrong, exactly. They line up numbers that measure different things and rank them as if they didn’t. Here are the usual problems:

  • Marketplace revenue vs. GMV. Amazon, eBay and Walmart earn a commission on third-party sales, so their reported revenue captures only a slice of what shoppers bought on their sites. Rank Amazon on revenue next to Costco on sales and you’re comparing two different things.
  • Undisclosed and non-GAAP numbers. Private retailers like H-E-B, Meijer and Menards don’t report sales at all. Public companies define digital sales their own way, and some disclose only a growth rate. Plenty of lists fill those gaps with estimates they never label as estimates.
  • Retailers that aren’t just retailers anymore. Advertising, membership fees, financial services, fuel, pharmacy and B2B distribution all land in reported revenue. Home Depot’s revenue includes SRS, a building-products distributor. Costco’s includes gasoline and membership fees. That revenue is real, but it isn’t retail sales.
  • Different calendars and borders. Fiscal years end anywhere from January to September, some have 53 weeks, and many companies report worldwide sales without a clean U.S. split.

This list is my effort to consolidate and normalize all of that into the way I actually think about the market: U.S. merchandise GMV, banner by banner, with marketplace sales in and non-retail revenue out wherever a public number makes that possible. Every adjustment is written up in that retailer’s notes in the table below.

The fair counterargument is that GMV flatters marketplaces. A dollar of third-party sales on Amazon isn’t a dollar of Amazon revenue. If you care about the P&L, revenue is the right lens. If you care about who shoppers are buying from, GMV is.

What this list is built from

This is the best list I can build with public data: company filings, the U.S. Census Bureau and free, openly published third-party sources, each one cited. In my own practice I license commercial data from ECDB, Forrester, eMarketer and numerous equity analysts to get an even better picture. That extra data fills in some of the gaps you’ll see here, especially digital sales for companies that don’t disclose them, but the picture it paints is directionally very similar.

Where the public data is thin, the number carries a ~ and a low-confidence flag rather than pretending to be precise. None of the licensed data appears on this page.

Every retailer, every number

Click a column header to sort. Click a retailer to see how the number was built and the sources behind it. U.S. dollars in billions. ~ marks a low-confidence estimate, n/d means no public figure exists, and n/m means the growth rate isn’t reliable enough to publish.

Methodology

What this measures

U.S. retail GMV is the gross value of merchandise sold to U.S. consumers in fiscal 2025, including third-party marketplace sales where the retailer runs a marketplace. It’s measured by banner: Walmart U.S. and Sam’s Club are separate, and Foot Locker, acquired mid-year, is not in Dick’s. Auto dealers and fuel-first retailers are excluded. Digital GMV is the part of that value ordered online, on each company’s own definition, including store-fulfilled pickup and delivery.

Apples-to-apples adjustments

Fuel, membership fees, advertising, financial services and other non-merchandise revenue come out, as do non-retail businesses like B2B distribution, wherever a public figure or a reasonable inference allows. Where they can’t be removed, the number keeps them and the retailer’s note says what’s inside.

Drugstores are measured front-of-store only. Prescriptions are a small share of a grocer’s or mass merchant’s sales but most of a drugstore’s, so counting them would rank drugstores on a different business. Pharmacy counters inside grocers, mass merchants and clubs stay in.

Where the numbers come from

First source that exists wins: company-reported U.S. sales for the banner; plus a public marketplace GMV estimate where the retailer runs a marketplace; for private companies, company-published system sales, otherwise NRF’s Top 100 (compiled by Kantar); for pure marketplaces, company-disclosed U.S. GMV, otherwise a public estimate built up from disclosed revenue.

Basis labels in the table: Reported is taken straight from a filing. Reported, adjusted is a filing figure with the adjustments described. Public estimate is a free, attributed third-party figure. RetailGeek estimate is my own derivation from public inputs.

Confidence

High: reported, or a reported percentage applied to reported sales. Medium: derived from disclosures with one assumption, or a single reputable public estimate. Low: benchmarks or several stacked assumptions, shown with a ~. Where a table shows two ratings, the first is GMV and the second is digital. For grocers that don’t disclose digital sales, digital is set at the median penetration of the grocers that do, so its growth isn’t measured.

Share of U.S. retail and e-commerce

Share of U.S. retail divides each retailer’s GMV by U.S. Census Bureau Core Retail sales: retail excluding autos and gas stations, the same ground this list covers. Share of U.S. e-commerce divides digital GMV by Census retail e-commerce sales. Digital % of own sales is different: it’s the retailer’s digital GMV as a share of its own total. Treat the market shares as close approximations. The Census Bureau counts sales by the business that books them, on a calendar year, while this list counts marketplace sales at their full value on each retailer’s fiscal year.

Growth and share of growth

2024 figures use the same method and sources for the prior fiscal year. 53-week years (Home Depot FY2024, Chewy FY2024, Albertsons FY2025, Ace FY2025) are put on a 52-week basis. Share of growth divides each retailer’s dollars added by the growth in U.S. Census Bureau Core Retail (retail excluding autos and gas stations), restated basis. Fiscal years differ: Walmart and Target end in January, Walgreens in August (FY2025 estimated from nine months), Costco in August or September, and Wakefern in September.

Watch-outs

Costco’s growth strips out gasoline using Costco’s own rounded gas share (about 12% in FY2024 and about 10.4% in FY2025), so each half-point of that share moves its dollars added by roughly $0.9B. Kroger’s FY2024 base may still include about $2.0B from Kroger Specialty Pharmacy, sold in October 2024, which would understate its growth. Growth isn’t shown for Temu, whose prior-year base is too soft to publish. SHEIN’s growth is a low-confidence estimate: SHEIN doesn’t disclose GMV, so its 2024 figure is scaled from the change in its reported U.S. revenue.

Sources: company 10-K and 10-Q filings and earnings releases (sec.gov); U.S. Census Bureau MARTS, MRTS and Quarterly E-Commerce reports; NRF Top 100 Retailers 2026 (compiled by Kantar); Marketplace Pulse; Momentum Works; Appfigures; World Bank WDI; CSP; Retail Dive; Grocery Dive.

Updated 2026-10-08Fiscal 2025 and 2024$ billions, rounded to one decimal