The top 10 department stores in the world are contributing to a fast-growing global department store industry in 2020. The global department store industry is projected to grow at a CAGR of 5% by 2025. Macy’s, Kohl’s, and Sears are the top department stores in the world by revenue. The global department store industry is mainly dominated by chains from the USA, Japan, and the UK, but this detailed breakdown conducted by BizVibe adds new companies on the list from all over the world.
This fact sheet is to assist business professionals, investors, and everyday readers that are interested in gaining insights into the global department store industry including:
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What are department stores? A department store is a retail establishment offering a variety of consumer goods in different product categories known as “departments”. Some of these departments include clothing, furniture, home appliances, toys, cosmetics, houseware, gardening, toiletries, sporting goods, do it yourself, paint, and hardware. Currently, the global department store industry is poised to reach USD 683.7 Billion by 2025. Some of the most popular names associated with department stores are Macy’s, Nordstrom, Sears, and more. This post will breakdown the top department stores in the world by notoriety and revenue in 2020.
The top 10 department stores in the world have been dominating the market for decades and are transitioning to a new age of technology and online retail. The following companies built the global department store industry that provides us with all the convenient household products we enjoy today. This is BizVibe’s list of the top department stores in the world today.
Ranking number on the list of the top 10 department stores in the world in 2020 is Macy’s, an American department store chain founded in 1858 by Rowland Hussey Macy. Macy’s is the world’s largest department store chain in terms of revenue, with last year’s revenue surpassing USD 24.97 billion across its 613 locations worldwide. Macy’s was founded in 1858 in New York and is the top department store in sales. Macy’s flagship store Herald Square in Manhattan is one of the largest department stores in the world in terms of size.
Macy’s is influential among the list of department stores on this list due to stellar growth and consistent sales in the global department store industry. Macy’s is currently innovating by transforming 282 of its stores to pick and ship orders — integrating stores with technology for the better.
Kohl’s ranks 2nd in our list of the top 10 department stores in the world in 2020, with last year’s revenues exceeding USD 20.22 billion. Kohl’s is an American department store retail chain, operated by Kohl’s Corporation, that has over 1,158 store locations worldwide making it one of the world’s largest department store chains by the number of stores in operation and revenue. Originally starting as a grocery store, Kohl’s branched out as one of the largest department store chains in the world shortly after in 1962. Currently, Kohl’s operates some of the largest brands including Dana Buchman, Vera Wang, and Narciso Rodriguez.
Ranking 3rd on this list of the top department stores in the world is El Corte Inglés, the biggest department store group in Europe. El Corte Inglés is headquartered in Madrid, Spain, and serves Spain, United Kingdom, Andorra, France, and Portugal employing 90,004 at its stores. As of 2020, El Corte Inglés is Spain’s only remaining department store.
El Corte Inglés’ flagship store includes many designer boutiques including Hermès, Louis Vuitton, Cartier, Armani, Armani Jeans, Armani Collezioni, and Gucci.
Nordstrom is a US-based luxury department store chain founded in 1901 by John W. Nordstrom and Carl F. Wallin. Originating initially as a shoe store, Nordstrom eventually became a full-line department store chain that sells clothing, footwear, handbags, jewelry, accessories, cosmetics, and fragrances. One of the most famous department stores in the world, Nordstrom operates 117 stores in 40 American states, three Canadian provinces since and one in Puerto Rico. Nordstrom brought in annual revenues of USD 15.86 billion last year, making it one of the top department stores in the world in terms of revenue. Nordstrom is also notable for being one of the top luxury department stores.
Coming in 5th on this ranking of department stores is Sears, an American chain of department stores founded by Richard Warren Sears and Alvah Curtis Roebuck in 1893. This famous department store was formerly headquartered in the Sears Tower in Chicago but now holds its headquarters in Hoffman Estates, Illinois. Sears is notable for initially becoming famous for its mail-order catalog, a pioneer in the department store chain industry. Through most of the 80s, Sears was the largest retailer in the USA but has since been surpassed by a few companies. Sears currently operates 425 stores in the world and currently operates many different types of stores including Sears, Sears Grand, and Sears Travel.
Sears Product Line 2020
Marks & Spencer is a major British multinational retailer with headquarters in London, England, and ranks 6th in this list of the world’s largest department store chains in 2020. As of 2020. Marks & Spencer operates 959 stores across the U.K. including 615 that only sell food products. Back in 1998, Marks & Spencer became the first UK company to make a pre-tax profit of £1 billion. Last year, Marks & Spencer brought in annual revenues of USD 12.65 billion.
Outside of the UK, the company also operates in Ireland, Paris, Philippines, Netherlands, and many others. M&S operates many store formats including outlet stores, home stores, full-line stores, in-store food halls, online stores, and more.
Ranking 7th on this list of the top department stores in the world is J. C. Penney, an American department store chain with 865 locations in 49 U.S. states and Puerto Rico. Last year J. C. Penney brought in annual revenues of USD 12.01 billion ranking 7th in revenue as well among the world’s largest department store chains. Since 1998, the company has also become an internet retailer and started opening some freestanding stores to meet consumer demands.
The Isetan Mitsukoshi Group is Japan’s largest department store group, operating a total of 26 stores nationwide. The company operates 4 distinct brands: Mitsukoshi, Isetan, Iwataya, and Marui-Imai and operates all over Japan, with flagship department store chains in Tokyo, Sapporo, Kyoto, Nagoya, Fukuoka, and other major cities nationwide. At Isetan, you can buy food, clothing, housewares, and much more. Isetan Mitsukoshi brought in annual revenues of USD 11.99 billion last year — making it one of the top department stores in the world in terms of revenue.
Ranking 9th on this list of department stores is the Canadian retail business group, The Hudson’s Bay Company. The company’s main retail and department store is based on its namesake, The Bay. Last year, the company brought in annual revenues of USD 6.68 billion — making it one of the world’s largest department store chains.
Rounding out BizVibe’s list of the top 10 department stores in the world in 2020 is Dillard’s, an American luxury department store chain with approximately 285 stores in 29 states and headquartered in Little Rock, Arkansas. Dillard’s operates 285 stores worldwide and employs over 39,000 people worldwide. Last year the Dillard’s brought in revenues of USD 6.50 billion — making it one of the top department stores in the world in terms of revenue in 2020.
This is BizVibe’s list of the top 10 department stores in the world in brands in 2020 ranked by revenue and its placement in the global department store industry. The top department store companies have paved the way for the next generation of how everyday goods are sold. We might be veering out of just physical stores but trends such as freestanding pop-ups and the power on online retail are expected to keep the industry moving forward.
Revenue (USD billions)
|1||Macy’s||USD 24.97 billion||USA|
|2||Kohl’s||USD 20.22 billion||USA|
|3||El Corte Inglés||USD 17.01 billion||Spain|
|4||Nordstrom||USD 15.86 billion||USA|
|5||Sears||USD 13.8 billion||USA|
|6||Marks & Spencer||USD 12.65 billion||UK|
|7||J. C. Penney||USD 12.01 billion||USA|
|8||Isetan Mitsukoshi||USD 11.99 billion||Japan|
|9||Hudson’s Bay Company||USD 6.68 billion||Canada|
|10||Dillard’s||USD 6.50 billion||USA|
Looking past 2020, the future of the global department store industry is poised to grow in the billions by 2025. This growth is led by the top 10 department stores in the world as they transition to a new age of selling everyday products. As disposable income increases and the top department stores create a presence online, expect further growth in the industry.