This year’s 25 fastest-growing retailers in the U.S. cover the waterfront, in terms of price points, ranging from the bargain basement (Ollie’s, #10) to the uber-luxurious (LVMH’s Sephora, #9, and Tiffany & Co., #20). Those rankings were produced for the National Retail Federation by Kantar, a marketing data, insight and consultancy company. The list highlights the fastest-growing retailers in the U.S., with rankings determined by each company’s year-over-year increase in domestic sales from 2022 to 2023.
Topping the roster is Overstock.com, with domestic sales growth of 135.1% and an increase in sales of $2.6 billion. Much of that company’s ascendancy came from acquiring the rights to the online operations of Bed Bath & Beyond.
Moving up two spots from #4 last year, Schwarz Group – a German multinational retailer that operates stores under the Lidl and Kaufland brands – ranked second with a sales increase of 32.8%. Rounding out the top five spots are Fast Retailing (32.6% sales increase), Irish fast fashion retailer Primark Stores (23.9%) and Aldi (17%).
Other notable moves include Lululemon, which jumped from #24 last year to #6. The Canadian retailer saw U.S. sales grow 16.7%, or $902 million. H.E. Butt Grocery jumped from #25 to #13 with 12.7% sales growth last year.
Newcomers to the list this year are: Abercrombie & Fitch (#7), Five Below (#8), Ollie’s Bargain Outlet (#10), Chevron Texaco (#11), Daiso Sangyo (#14), Burlington (#16), Cencosud (#18), Inditex (#21) and Defense Commissary Agency (#25).
“This year, we observe a resurgence of retailers that had subtly declined in previous years but have gained steady traction with new customer bases,” says Mark Mathews, Executive Director of Research at NRF. “The sales numbers indicate a steady increase for these top 25 retailers, driven in part by their successful adaptation to customer needs, resulting in positive growth.”
Click here to see the rankings.