These Retailers Are Making More Money Than Amazon
We all know department stores are suffering from low sales due to e-commerce. Last week, Macy's announced it's closing 100 stores, or 15% of its portfolio, and JC Penney and Gap are making similar moves.
But that doesn't mean all retailers are struggling. E-commerce king Amazon.com raked in $1.93B in profits and $120.6B in revenue in the past 12 months, but these 10 bricks-and-mortar players are topping that, according to USA Today.
Walmart
Net Income: $14.43B
Revenue: $483.2
The world's largest retailer has been working to give Amazon a run for its money in online sales. Earlier this month, it bought out e-commerce startup Jet.com for $3B, hoping to use Jet's proprietary technology and customer base to increase online sales.
Home Depot
Net Income: $7.23B
Revenue: $90.4B
Even specialty retailer Home Depot earned more than Amazon in the last 12 months, bypassing the online retailer in profits by 33%.
CVS
Net Income: $4.81B
Revenue: $166.7B
The retailer and pharmacy is growing tech-savvy and hoping to streamline its checkout process with its new mobile payment platform. The CVS Pay app integrates payment and pickup options, and the brand's loyalty program.
Target
Net Income: $3.36B
Revenue: $72.9B
The second-largest retailer in the world took a hit in sales this past quarter; its profits dropped by 6.5% compared to the year-ago quarter. But the retailer is still outpacing Amazon, though no one knows how long that will last.
Walgreens
Net Income: $3.17B
Revenue: $117.2B
The retailer's shares have been up lately pending FTC approval of its $17B acquisition of Rite Aid. The merger was proposed last October and Walgreens is looking to sell assets to ease antitrust concerns regarding the buyout.
Lowe's
Net Income: $2.76B
Revenue: $60.2B
Though the home improvement retailer's earnings missed Wall Street expectations in Q2, it's still bypassing Amazon in profits. Q2 same-store sales rose by 2%, trailing behind competitor Home Depot's 4.7% in comparable sales.
Priceline
Net Income: $2.66B
Revenue: $9.8B
The website that offers discounted rates on travel fare and hotel accommodations has seen stocks soar this past quarter. The fellow online retailer's adjusted earnings per share rose 12% in Q2 to $2.56B, just shy of analyst expectations.
Costco
Net Income: $2.34
Revenue: $117.9B
Costco is an investor favorite. The wholesale retailer has been known to diversify a portfolio, and is applauded by analysts for being able to withstand the onslaught of competition from e-commerce competitors like Amazon.
TJ Maxx
Net Income: $2.31B
Revenue: $31.6B
The discount apparel chain hauled in $2.3B in profits in the past 12 months, more than a 20% gain on Amazon's bottom line.
Kroger
Net Income: $2.1B
Revenue: $111.4B
This retailer, and the owner of Ralphs, Smith's and Food 4 Less, just barely made the cut, beating Amazon's profits by less than 10% in the past 12 months.
