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.
Net Income: $14.43B
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.
Net Income: $7.23B
Even specialty retailer Home Depot earned more than Amazon in the last 12 months, bypassing the online retailer in profits by 33%.
Net Income: $4.81B
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.
Net Income: $3.36B
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.
Net Income: $3.17B
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.
Net Income: $2.76B
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.
Net Income: $2.66B
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.
Net Income: $2.34
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.
Net Income: $2.31B
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.
Net Income: $2.1B
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.