Thursday, July 06, 2000
Kroger No. 2 retailer in U.S.
Acquisitions push chain past Sears
By Lisa Biank Fasig
The Cincinnati Enquirer
The Cincinnati-based Kroger Co. went on a shopping binge itself a couple of years ago, and now checks out as the No. 2 retailer in the country.
It comes in second on a list of the top 100 national retailers, compiled annually and to be released today by the National Retail Federation (NRF).
Wal-Mart remains No.1 in the country.
The reason for Kroger's ascension is higher sales. Since acquiring Portland, Ore.-based Fred Meyer for $13.5 billion in 1999, Kroger saw revenues shoot up to $45 billion from roughly $30 billion, pre-merger, according to NRF.
In fact, several mergers in 1999 pushed grocery chains up in the rank.
“That seems to be one thing that (we) identified with, is the amazing amount of consolidation in the supermarket industry,” said Pamela Rucker, NRF spokeswoman. “Particularly in '99.”
The registry, now called the Triversity Top 100 (Triversity is a Canadian-based retail consultant co-sponsoring the list), has been published for more than 20 years.
Wal-Mart, with 1999 sales of a whopping $165 billion, has topped the list since 1992.
Sears, Roebuck & Co. came in third this year, with sales of $41 billion.
New to the list is Amazon.com, the first pure-player — or strictly on-line retailer — to register. It made its debut at 93.
Of local interest, Federated Department Stores, with 1999 sales of $18 billion, moved to spot 12 from 13 last year.
Kroger No. 2 retailer in U.S.
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