The Global Top 20 Retailers - Company Benchmarking Analysis by WMIntelligence

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									         Global Top 20 Retailers
         Company Benchmarking Analysis Report



         Reference code: WMRT0001CB
         Published: January 2010




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© World Market Intelligence. This report is a licensed product and is not to be photocopied.
TABLE OF CONTENTS


TABLE OF CONTENTS


1     Executive Summary............................................................................................................... 17

2     About this report.................................................................................................................... 18

2.1      Report summary ................................................................................................................................................ 18

2.2      Definitions........................................................................................................................................................... 18

2.3    Summary Methodology ..................................................................................................................................... 19
  2.3.1   Basic Research Methodology ....................................................................................................................... 19
  2.3.2   Scorecard and Heat Chart Methodology ...................................................................................................... 19


3     Leading Retailer Benchmarks .............................................................................................. 21

3.1      Peer Lists ............................................................................................................................................................ 21

3.2    Company Benchmarking ................................................................................................................................... 22
  3.2.1   Top 5 Global Retail Companies, By Revenue, 2008 .................................................................................... 22
  3.2.2   Top 5 Global Retail Companies, By Revenue Growth, 2008 ....................................................................... 23
  3.2.3   Top 5 Global Retail Companies, By Operating Expenses, 2008 ................................................................. 24
  3.2.4   Top 5 Global Retail Companies, By Labor Productivity, 2008 ..................................................................... 25
  3.2.5   Top 5 Global Retail Companies, By Capital Productivity, 2008 ................................................................... 26
  3.2.6   Top 5 Global Retail Companies, By Outlet Productivity, 2008 ..................................................................... 27
  3.2.7   Top 5 Global Retail Companies, By Area Productivity, 2008 ....................................................................... 28
  3.2.8   Top 5 Global Retail Companies, By EBIT, 2008 .......................................................................................... 29
  3.2.9   Top 5 Global Retail Companies, By EBITDA, 2008 ..................................................................................... 30
  3.2.10 Top 5 Global Retail Companies, By Net Income, 2008 ................................................................................ 31
  3.2.11 Top 5 Global Retail Companies, By Profit Margin, 2008 .............................................................................. 32
  3.2.12 Top 5 Global Retail Companies, By ROCE, 2008 ........................................................................................ 33
  3.2.13 Top 5 Global Retail Companies, By Capital Expenditure, 2008 ................................................................... 34
  3.2.14 Top 5 Global Retail Companies, By Total Assets, 2008 .............................................................................. 35
  3.2.15 Top 5 Global Retail Companies, By Total Asset Growth, 2008.................................................................... 36
  3.2.16 Top 5 Global Retail Companies, By Quick Ratio, 2008 ................................................................................ 37
  3.2.17 Top 5 Global Retail Companies, By Working Capital, 2008 ......................................................................... 38
  3.2.18 Top 5 Global Retail Companies, By Return on Assets, 2008 ....................................................................... 39
  3.2.19 Top 5 Global Retail Companies, By Total Debt, 2008 .................................................................................. 40
  3.2.20 Top 5 Global Retail Companies, By Debtor Days, 2008 .............................................................................. 41
  3.2.21 Top 5 Global Retail Companies, By Debt Ratio, 2008 ................................................................................. 42
  3.2.22 Top 5 Global Retail Companies, By Debt to Equity, 2008 ............................................................................ 43
  3.2.23 Top 5 Global Retail Companies, By Shareholder‟s Funds, 2008 ................................................................. 44
  3.2.24 Top 5 Global Retail Companies, By Market Cap, 2008 ................................................................................ 45
  3.2.25 Top 5 Global Retail Companies, By P/E Ratio, 2008 ................................................................................... 46
  3.2.26 Top 20 Global Retail Companies, Revenue & Expense Metrics, 2008 ........................................................ 47
  3.2.27 Top 20 Global Retail Companies, Productivity Metrics, 2008 ...................................................................... 48
  3.2.28 Top 20 Global Retail Companies, Profit Metrics, 2008 ................................................................................ 49
  3.2.29 Top 20 Global Retail Companies, Balance Sheet Metrics, 2008 ................................................................. 50




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                            Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                                       Page 2
TABLE OF CONTENTS


    3.2.30      Top 20 Global Retail Companies, Shareholder Metrics, 2008 ..................................................................... 51

3.3    ‘Big Five’ focus .................................................................................................................................................. 52
  3.3.1    Revenue Vs Operating Expense Growth ...................................................................................................... 52
  3.3.2    Revenue Vs EBITDA Margin ........................................................................................................................ 53
  3.3.3    Revenue Vs Capex Growth .......................................................................................................................... 54
  3.3.4    Total Asset Vs Debt Growth ......................................................................................................................... 55

3.4      Summary on Heat Chart .................................................................................................................................... 56

3.5      Top 20 Retail Heat Chart ................................................................................................................................... 57


4     Company Benchmark: Wal-Mart stores, Inc. ....................................................................... 58

4.1      Wal-Mart stores, Inc., Scorecard ...................................................................................................................... 58

4.2    Wal-Mart stores, Inc. Company Overview ....................................................................................................... 59
  4.2.1    Wal-Mart stores, Inc. Business Description .................................................................................................. 59
  4.2.2    Wal-Mart stores, Inc. Major Products & Services ......................................................................................... 61
  4.2.3    Wal-Mart stores, Inc. History ........................................................................................................................ 62

4.3      Wal-Mart stores, Inc. Key Financials ............................................................................................................... 64

4.4    Wal-Mart stores, Inc. SWOT Analysis .............................................................................................................. 66
  4.4.1    Wal-Mart stores, Inc. Strengths .................................................................................................................... 66
  4.4.2    Wal-Mart stores, Inc. Weaknesses ............................................................................................................... 67
  4.4.3    Wal-Mart stores, Inc. Opportunities .............................................................................................................. 68
  4.4.4    Wal-Mart stores, Inc. Threats ....................................................................................................................... 69


5     Company Benchmarking: Carrefour S.A. ............................................................................ 71

5.1      Carrefour S.A., Scorecard: ................................................................................................................................ 71

5.2    Carrefour S.A. Company Overview .................................................................................................................. 72
  5.2.1    Carrefour S.A. Business Description ............................................................................................................ 72
  5.2.2    Carrefour S.A. Major Products & Services ................................................................................................... 74
  5.2.3    Carrefour S.A. History................................................................................................................................... 75

5.3      Carrefour S.A. Key Financials .......................................................................................................................... 76

5.4    Carrefour S.A. SWOT Analysis ......................................................................................................................... 77
  5.4.1    Carrefour S.A. Strengths .............................................................................................................................. 78
  5.4.2    Carrefour S.A. Weaknesses ......................................................................................................................... 79
  5.4.3    Carrefour S.A. Opportunities ........................................................................................................................ 79
  5.4.4    Carrefour S.A. Threats.................................................................................................................................. 80


6     Company Benchmarking: Tesco PLC .................................................................................. 81

6.1      Tesco PLC, Scorecard: ...................................................................................................................................... 81




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                       Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                                  Page 3
TABLE OF CONTENTS


6.2    Tesco PLC Company Overview ........................................................................................................................ 82
  6.2.1    Tesco PLC Business Description ................................................................................................................. 82
  6.2.2    Tesco PLC Major Products & Services ........................................................................................................ 83
  6.2.3    Tesco PLC History ........................................................................................................................................ 84

6.3      Tesco PLC Key Financials ................................................................................................................................ 85

6.4    Tesco PLC SWOT Analysis ............................................................................................................................... 86
  6.4.1    Tesco PLC Strengths .................................................................................................................................... 88
  6.4.2    Tesco PLC Weaknesses .............................................................................................................................. 88
  6.4.3    Tesco PLC Opportunities.............................................................................................................................. 88
  6.4.4    Tesco PLC Threats ....................................................................................................................................... 89


7     Company Benchmarking: Metro AG .................................................................................... 91

7.1      Metro AG, Scorecard: ........................................................................................................................................ 91

7.2    Metro AG Company Overview .......................................................................................................................... 92
  7.2.1    Metro AG Business Description .................................................................................................................... 92
  7.2.2    Metro AG Major Products & Services ........................................................................................................... 93
  7.2.3    Metro AG History .......................................................................................................................................... 93

7.3      Metro AG Key Financials................................................................................................................................... 95

7.4    Metro AG SWOT Analysis ................................................................................................................................. 96
  7.4.1    Metro AG Strengths ...................................................................................................................................... 97
  7.4.2    Metro AG Weaknesses ................................................................................................................................. 97
  7.4.3    Metro AG Opportunities ................................................................................................................................ 98
  7.4.4    Metro AG Threats ......................................................................................................................................... 99


8     Company Benchmarking: CVS Caremark Corporation .................................................... 100

8.1      CVS Caremark Corporation, Scorecard: ....................................................................................................... 100

8.2    CVS Caremark Corp. Company Overview ..................................................................................................... 101
  8.2.1   CVS Caremark Corp. Business Description ............................................................................................... 101
  8.2.2   CVS Caremark Corp. Major Products & Services ...................................................................................... 103
  8.2.3   CVS Caremark Corp. History...................................................................................................................... 104

8.3      CVS Caremark Corp. Key Financials ............................................................................................................. 105

8.4    CVS Caremark Corp. SWOT Analysis ............................................................................................................ 106
  8.4.1   CVS Caremark Corp. Strengths ................................................................................................................. 107
  8.4.2   CVS Caremark Corp. Weaknesses ............................................................................................................ 108
  8.4.3   CVS Caremark Corp. Opportunities ........................................................................................................... 109
  8.4.4   CVS Caremark Corp. Threats .................................................................................................................... 110


9     Company Benchmarking: The Kroger Co. ........................................................................ 111




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                    Published January 2010
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9.1      The Kroger Co., Scorecard: ............................................................................................................................ 111

9.2    The Kroger Co. Company Overview .............................................................................................................. 112
  9.2.1    The Kroger Co. Business Description ........................................................................................................ 112
  9.2.2    The Kroger Co. Major Products & Services ................................................................................................ 114
  9.2.3    The Kroger Co. History ............................................................................................................................... 115

9.3      The Kroger Co. Key Financials ....................................................................................................................... 116

9.4    The Kroger Co. SWOT Analysis ..................................................................................................................... 117
  9.4.1    The Kroger Co. Strengths ........................................................................................................................... 118
  9.4.2    The Kroger Co. Weaknesses ..................................................................................................................... 118
  9.4.3    The Kroger Co. Opportunities ..................................................................................................................... 119
  9.4.4    The Kroger Co. Threats .............................................................................................................................. 119


10 Company Benchmarking: The Home Depot, Inc. .............................................................. 121

10.1     The Home Depot, Inc., Scorecard: ................................................................................................................. 121

10.2 The Home Depot, Inc. Company Overview.................................................................................................... 122
  10.2.1 The Home Depot, Inc. Business Description .............................................................................................. 122
  10.2.2 The Home Depot, Inc. Major Products & Services ..................................................................................... 123
  10.2.3 The Home Depot, Inc. History .................................................................................................................... 124

10.3     The Home Depot, Inc. Key Financials ............................................................................................................ 125

10.4 The Home Depot, Inc. SWOT Analysis .......................................................................................................... 127
  10.4.1 The Home Depot, Inc. Strengths ................................................................................................................ 127
  10.4.2 The Home Depot, Inc. Weaknesses ........................................................................................................... 128
  10.4.3 The Home Depot, Inc. Opportunities .......................................................................................................... 129
  10.4.4 The Home Depot, Inc. Threats ................................................................................................................... 129


11 Company Benchmarking: Target Corporation .................................................................. 131

11.1     Target Corporation, Scorecard:...................................................................................................................... 131

11.2 Target Corporation Company Overview ........................................................................................................ 132
  11.2.1 Target Corporation Business Description ................................................................................................... 132
  11.2.2 Target Corporation Major Products & Services .......................................................................................... 133
  11.2.3 Target Corporation History ......................................................................................................................... 134

11.3     Target Corporation Key Financials ................................................................................................................ 136

11.4 Target Corporation SWOT Analysis ............................................................................................................... 137
  11.4.1 Target Corporation Strengths ..................................................................................................................... 138
  11.4.2 Target Corporation Weaknesses ................................................................................................................ 138
  11.4.3 Target Corporation Opportunities ............................................................................................................... 139
  11.4.4 Target Corporation Threats ........................................................................................................................ 140




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                 Published January 2010
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12 Company Benchmarking: Walgreen Co. ........................................................................... 141

12.1     Walgreen Co., Scorecard: ............................................................................................................................... 141

12.2 Walgreen Co. Company Overview ................................................................................................................. 142
  12.2.1 Walgreen Co. Business Description ........................................................................................................... 142
  12.2.2 Walgreen Co. Major Products & Services .................................................................................................. 143
  12.2.3 Walgreen Co. History.................................................................................................................................. 144

12.3     Walgreen Co. Key Financials .......................................................................................................................... 145

12.4 Walgreen Co. SWOT Analysis ........................................................................................................................ 147
  12.4.1 Walgreen Co. Strengths ............................................................................................................................. 147
  12.4.2 Walgreen Co. Weaknesses ........................................................................................................................ 148
  12.4.3 Walgreen Co. Opportunities ....................................................................................................................... 148
  12.4.4 Walgreen Co. Threats................................................................................................................................. 149


13 Company Benchmarking: Seven & I Holdings Co., Ltd. ................................................... 151

13.1     Seven & i Holdings Co., Ltd., Scorecard: ...................................................................................................... 151

13.2 Seven & I Holdings Co., Ltd. Company Overview ........................................................................................ 152
  13.2.1 Seven & I Holdings Co., Ltd. Business Description .................................................................................... 152
  13.2.2 Seven & I Holdings Co., Ltd. Major Products & Services ........................................................................... 153
  13.2.3 Seven & I Holdings Co., Ltd. History .......................................................................................................... 154

13.3     Seven & I Holdings Co., Ltd. Key Financials ................................................................................................. 154

13.4 Seven & I Holdings Co., Ltd. SWOT Analysis ............................................................................................... 156
  13.4.1 Seven & I Holdings Co., Ltd. Strengths ...................................................................................................... 156
  13.4.2 Seven & I Holdings Co., Ltd. Weaknesses ................................................................................................. 157
  13.4.3 Seven & I Holdings Co., Ltd. Opportunities ................................................................................................ 158
  13.4.4 Seven & I Holdings Co., Ltd. Threats ......................................................................................................... 158


14 Company Benchmarking: Lowe's Companies Inc ............................................................ 160

14.1     Lowe's Companies, Inc., Scorecard: ............................................................................................................. 160

14.2 Lowe’s Companies Inc Company Overview .................................................................................................. 161
  14.2.1 Lowe‟s Companies Inc Business Description ............................................................................................. 161
  14.2.2 Lowe‟s Companies Inc Major Products & Services .................................................................................... 162
  14.2.3 Lowe‟s Companies Inc History ................................................................................................................... 164

14.3     Lowe’s Companies Inc Key Financials .......................................................................................................... 164

14.4 Lowe’s Companies Inc SWOT Analysis ........................................................................................................ 166
  14.4.1 Lowe‟s Companies Inc Strengths ............................................................................................................... 166
  14.4.2 Lowe‟s Companies Inc Weaknesses .......................................................................................................... 167
  14.4.3 Lowe‟s Companies Inc Opportunities ......................................................................................................... 167
  14.4.4 Lowe‟s Companies Inc Threats .................................................................................................................. 168




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                 Published January 2010
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15 Company Benchmarking: Sears Holdings Corporation ................................................... 170

15.1     Sears Holdings Corporation, Scorecard: ...................................................................................................... 170

15.2 Sears Holdings Corporation Company Overview......................................................................................... 171
  15.2.1 Sears Holdings Corporation Business Description ..................................................................................... 171
  15.2.2 Sears Holdings Corporation Major Products & Services ............................................................................ 173
  15.2.3 Sears Holdings Corporation History ........................................................................................................... 174

15.3     Sears Holdings Corporation Key Financials ................................................................................................. 175

15.4 Sears Holdings Corporation SWOT Analysis ............................................................................................... 176
  15.4.1 Sears Holdings Corporation Strengths ....................................................................................................... 177
  15.4.2 Sears Holdings Corporation Weaknesses .................................................................................................. 177
  15.4.3 Sears Holdings Corporation Opportunities ................................................................................................. 178
  15.4.4 Sears Holdings Corporation Threats .......................................................................................................... 179


16 Company Benchmarking: Best Buy Co, Inc. ..................................................................... 181

16.1     Best Buy Co, Inc., Scorecard:......................................................................................................................... 181

16.2 Best Buy Co, Inc. Company Overview ........................................................................................................... 182
  16.2.1 Best Buy Co, Inc. Business Description ..................................................................................................... 182
  16.2.2 Best Buy Co, Inc. Major Products & Services ............................................................................................ 183
  16.2.3 Best Buy Co, Inc. History ............................................................................................................................ 184

16.3     Best Buy Co, Inc. Key Financials ................................................................................................................... 185

16.4 Best Buy Co, Inc. SWOT Analysis .................................................................................................................. 187
  16.4.1 Best Buy Co, Inc. Strengths ....................................................................................................................... 187
  16.4.2 Best Buy Co, Inc. Weaknesses .................................................................................................................. 188
  16.4.3 Best Buy Co, Inc. Opportunities ................................................................................................................. 189
  16.4.4 Best Buy Co, Inc. Threats ........................................................................................................................... 190


17 Company Benchmarking: AEON Co., Ltd. ......................................................................... 191

17.1     AEON Co., Ltd., Scorecard: ............................................................................................................................ 191

17.2 AEON Co., Ltd. Company Overview ............................................................................................................... 192
  17.2.1 AEON Co., Ltd. Business Description ........................................................................................................ 192
  17.2.2 AEON Co., Ltd. Major Products & Services ............................................................................................... 193
  17.2.3 AEON Co., Ltd. History ............................................................................................................................... 194

17.3     AEON Co., Ltd. Key Financials ....................................................................................................................... 196

17.4 AEON Co., Ltd. SWOT Analysis ..................................................................................................................... 197
  17.4.1 AEON Co., Ltd. Strengths........................................................................................................................... 198
  17.4.2 AEON Co., Ltd. Weaknesses ..................................................................................................................... 198
  17.4.3 AEON Co., Ltd. Opportunities .................................................................................................................... 199
  17.4.4 AEON Co., Ltd. Threats .............................................................................................................................. 199




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                Published January 2010
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18 Company Benchmarking: SUPERVALU INC. .................................................................... 201

18.1     SUPERVALU INC., Scorecard: ........................................................................................................................ 201

18.2 SUPERVALU INC. Company Overview .......................................................................................................... 202
  18.2.1 SUPERVALU INC. Business Description ................................................................................................... 202
  18.2.2 SUPERVALU INC. Major Products & Services .......................................................................................... 203
  18.2.3 SUPERVALU INC. History.......................................................................................................................... 204

18.3     SUPERVALU INC. Key Financials .................................................................................................................. 205

18.4 SUPERVALU INC. SWOT Analysis ................................................................................................................. 206
  18.4.1 SUPERVALU INC. Strengths ..................................................................................................................... 207
  18.4.2 SUPERVALU INC. Weaknesses ................................................................................................................ 208
  18.4.3 SUPERVALU INC. Opportunities ............................................................................................................... 208
  18.4.4 SUPERVALU INC. Threats......................................................................................................................... 209


19 Company Benchmarking: Safeway Inc. ............................................................................. 211

19.1     Safeway Inc., Scorecard: ................................................................................................................................. 211

19.2 Safeway Inc. Company Overview ................................................................................................................... 212
  19.2.1 Safeway Inc. Business Description ............................................................................................................ 212
  19.2.2 Safeway Inc. Major Products & Services .................................................................................................... 214
  19.2.3 Safeway Inc. History ................................................................................................................................... 214

19.3     Safeway Inc. Key Financials ........................................................................................................................... 215

19.4 Safeway Inc. SWOT Analysis .......................................................................................................................... 217
  19.4.1 Safeway Inc. Strengths ............................................................................................................................... 217
  19.4.2 Safeway Inc. Weaknesses.......................................................................................................................... 218
  19.4.3 Safeway Inc. Opportunities ......................................................................................................................... 218
  19.4.4 Safeway Inc. Threats .................................................................................................................................. 219


20 Company Benchmarking: Wesfarmers Limited ................................................................ 221

20.1     Wesfarmers Limited, Scorecard: .................................................................................................................... 221

20.2 Wesfarmers Limited Company Overview ...................................................................................................... 222
  20.2.1 Wesfarmers Limited Business Description ................................................................................................. 222
  20.2.2 Wesfarmers Limited Major Products & Services ........................................................................................ 224
  20.2.3 Wesfarmers Limited History........................................................................................................................ 225

20.3     Wesfarmers Limited Key Financials .............................................................................................................. 225

20.4 Wesfarmers Limited SWOT Analysis ............................................................................................................. 227
  20.4.1 Wesfarmers Limited Strengths ................................................................................................................... 227
  20.4.2 Wesfarmers Limited Weaknesses .............................................................................................................. 228
  20.4.3 Wesfarmers Limited Opportunities ............................................................................................................. 229
  20.4.4 Wesfarmers Limited Threats ...................................................................................................................... 229




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                  Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                             Page 8
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21 Company Benchmarking: Casino Guichard-Perrachon ................................................... 231

21.1     Casino Guichard-Perrachon, Scorecard: ...................................................................................................... 231

21.2 Casino Guichard-Perrachon Company Overview......................................................................................... 232
  21.2.1 Casino Guichard-Perrachon Business Description .................................................................................... 232
  21.2.2 Casino Guichard-Perrachon Major Products & Services ........................................................................... 233
  21.2.3 Casino Guichard-Perrachon History ........................................................................................................... 235

21.3     Casino Guichard-Perrachon Key Financials ................................................................................................. 236

21.4 Casino Guichard-Perrachon SWOT Analysis ............................................................................................... 238
  21.4.1 Casino Guichard-Perrachon Strengths....................................................................................................... 238
  21.4.2 Casino Guichard-Perrachon Weaknesses ................................................................................................. 239
  21.4.3 Casino Guichard-Perrachon Opportunities................................................................................................. 239
  21.4.4 Casino Guichard-Perrachon Threats .......................................................................................................... 240


22 Company Benchmarking: Koninklijke Ahold N.V. ............................................................ 241

22.1     Koninklijke Ahold N.V., Scorecard: ................................................................................................................ 241

22.2 Koninklijke Ahold N.V. Company Overview ................................................................................................. 242
  22.2.1 Koninklijke Ahold N.V. Business Description ............................................................................................ 242
  22.2.2 Koninklijke Ahold N.V. Major Products & Services .................................................................................... 244
  22.2.3 Koninklijke Ahold N.V. History ................................................................................................................... 244

22.3     Koninklijke Ahold N.V. Key Financials ......................................................................................................... 246

22.4 Koninklijke Ahold N.V. SWOT Analysis ........................................................................................................ 248
  22.4.1 Koninklijke Ahold N.V. Strengths ............................................................................................................... 248
  22.4.2 Koninklijke Ahold N.V. Weaknesses .......................................................................................................... 249
  22.4.3 Koninklijke Ahold N.V. Opportunities ......................................................................................................... 250
  22.4.4 Koninklijke Ahold N.V. Threats .................................................................................................................. 250


23 Company Benchmarking: J Sainsbury plc ........................................................................ 252

23.1     J Sainsbury plc, Scorecard:............................................................................................................................ 252

23.2 J Sainsbury plc Company Overview .............................................................................................................. 253
  23.2.1 J Sainsbury plc Business Description ......................................................................................................... 253
  23.2.2 J Sainsbury plc Major Products & Services ................................................................................................ 254
  23.2.3 J Sainsbury plc History ............................................................................................................................... 254

23.3     J Sainsbury plc Key Financials ...................................................................................................................... 255

23.4 J Sainsbury plc SWOT Analysis ..................................................................................................................... 256
  23.4.1 J Sainsbury plc Strengths ........................................................................................................................... 257
  23.4.2 J Sainsbury plc Weaknesses ...................................................................................................................... 257
  23.4.3 J Sainsbury plc Opportunities ..................................................................................................................... 258
  23.4.4 J Sainsbury plc Threats .............................................................................................................................. 259




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                           Page 9
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24 Appendix .............................................................................................................................. 261

24.1    About World Market Intelligence .................................................................................................................... 261




Global Top 20 Retailers – Company Benchmarking Analysis                                                                            Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                      Page 10
TABLE OF CONTENTS


LIST OF TABLES
Table 1:      List of Top 20 Global Retail Companies - 2008 ............................................................................................................. 21
Table 2:      Top 5 Global Retail Companies, By Revenue - US$ Million, 2004-2008....................................................................... 22
Table 3:      Top 5 Global Retail Companies, By Revenue Growth - %, 2004-2008 ......................................................................... 23
Table 4:      Top 5 Global Retail Companies, By Operating Expenses - US$ Million, 2004-2008..................................................... 24
Table 5:      Top 5 Global Retail Companies, By Labor Productivity, 2004-2008.............................................................................. 25
Table 6:      Top 5 Global Retail Companies, By Capital Productivity, 2004-2008............................................................................ 26
Table 7:      Top 5 Global Retail Companies, By Outlet Productivity, 2004-2008 ............................................................................. 27
Table 8:      Top 5 Global Retail Companies, By Area Productivity, 2004-2008 ............................................................................... 28
Table 9:      Top 5 Global Retail Companies, By EBIT - US$ Million, 2004-2008 ............................................................................. 29
Table 10:     Top 5 Global Retail Companies, By EBITDA - US$ Million, 2004-2008 ........................................................................ 30
Table 11:     Top 5 Global Retail Companies, By Net Income - US$ Million, 2004-2008 ................................................................... 31
Table 12:     Top 5 Global Retail Companies, By Profit Margin - %, 2004-2008................................................................................ 32
Table 13:     Top 5 Global Retail Companies, By ROCE - %, 2004-2008 ......................................................................................... 33
Table 14:     Top 5 Global Retail Companies, By Capital Expenditure - US$ Million, 2004-2008 ...................................................... 34
Table 15:     Top 5 Global Retail Companies, By Total Assets - US$ Million, 2004-2008 ................................................................. 35
Table 16:     Top 5 Global Retail Companies, By Total Asset Growth - %, 2004-2008 ..................................................................... 36
Table 17:     Top 5 Global Retail Companies, By Quick Ratio - 2004-2008 ...................................................................................... 37
Table 18:     Top 5 Global Retail Companies, By Working Capital - US$ Million, 2004-2008 ............................................................ 38
Table 19:     Top 5 Global Retail Companies, By Return on Assets - %, 2004-2008 ........................................................................ 39
Table 20:     Top 5 Global Retail Companies, By Total Debt - US$ Million, 2004-2008 .................................................................... 40
Table 21:     Top 5 Global Retail Companies, By Debtor Days - Days, 2004-2008 ........................................................................... 41
Table 22:     Top 5 Global Retail Companies, By Debt Ratio - 2004-2008 ........................................................................................ 42
Table 23:     Top 5 Global Retail Companies, By Debt to Equity - 2004-2008................................................................................... 43
Table 24:     Top 5 Global Retail Companies, By Shareholder‟s Funds - US$ Million, 2004-2008 .................................................... 44
Table 25:     Top 5 Global Retail Companies, By Market Cap - US$ Million, 2004-2008 .................................................................. 45
Table 26:     Top 5 Global Retail Companies, By P/E Ratio - 2004-2008 .......................................................................................... 46
Table 27:     Revenue & Expense Metrics of Top 20 Global Retail Companies - 2008 ..................................................................... 47
Table 28:     Productivity Metrics of Top 20 Global Retail Companies - 2008 ................................................................................... 48
Table 29:     Profit Metrics of Top 20 Global Retail Companies - 2008 ............................................................................................. 49
Table 30:     Balance Sheet Metrics of Top 20 Global Retail Companies - 2008............................................................................... 50
Table 31:     Shareholder Metrics of Top 20 Global Retail Companies - 2008 .................................................................................. 51
Table 32:     Top 5 Global Retail Companies by Revenue & Opex Growth, 2008 ............................................................................. 52
Table 33:     Top 5 Global Retail Companies by Revenue & EBITDA Margin, 2008 ......................................................................... 53
Table 34:     Top 5 Global Retail Companies by Revenue & Capex Growth, 2008 .......................................................................... 54
Table 35:     Top 5 Global Retail Companies by Total Asset & Debt Growth, 2008 ......................................................................... 55
Table 43:     Financial Scorecard of Wal-Mart Stores, Inc. – 2008-2004 ........................................................................................... 58
Table 36:     Wal-Mart stores, Inc. Key Facts .................................................................................................................................... 59
Table 37:     Wal-Mart stores, Inc. Major Products and Services ..................................................................................................... 61
Table 38:     Wal-Mart stores, Inc. History ......................................................................................................................................... 62




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                                Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                                          Page 11
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Table 39:     Wal-Mart stores, Inc. Capital Market Ratios (based on current share price) ................................................................. 64
Table 40:     Wal-Mart stores, Inc. Key Annual Ratios ....................................................................................................................... 64
Table 41:     Wal-Mart stores, Inc. Interim Ratios .............................................................................................................................. 65
Table 42:     Wal-Mart stores, Inc. SWOT Analysis ........................................................................................................................... 66
Table 51:     Financial Scorecard of Carrefour S.A. – 2008-2004...................................................................................................... 71
Table 44:     Carrefour S.A. Key Facts .............................................................................................................................................. 72
Table 45:     Carrefour S.A. Major Products and Services................................................................................................................. 74
Table 46:     Carrefour S.A. History ................................................................................................................................................... 75
Table 47:     Carrefour S.A. Capital Market Ratios (based on current share price) ........................................................................... 76
Table 48:     Carrefour S.A. Key Annual Ratios ................................................................................................................................. 76
Table 49:     Carrefour S.A. Interim Ratios ........................................................................................................................................ 77
Table 50:     Carrefour S.A. SWOT Analysis ..................................................................................................................................... 78
Table 59:     Financial Scorecard of Tesco PLC – 2008-2004 ........................................................................................................... 81
Table 52:     Tesco PLC Key Facts ................................................................................................................................................... 82
Table 53:     Tesco PLC Major Products and Services ...................................................................................................................... 83
Table 54:     Tesco PLC History ........................................................................................................................................................ 84
Table 55:     Tesco PLC Capital Market Ratios (based on current share price) ................................................................................ 85
Table 56:     Tesco PLC Key Annual Ratios ...................................................................................................................................... 85
Table 57:     Tesco PLC Interim Ratios ............................................................................................................................................. 86
Table 58:     Tesco PLC SWOT Analysis .......................................................................................................................................... 86
Table 67:     Financial Scorecard of Metro AG – 2008-2004 ............................................................................................................. 91
Table 60:     Metro AG Key Facts ...................................................................................................................................................... 92
Table 61:     Metro AG Major Products and Services ........................................................................................................................ 93
Table 62:     Metro AG History........................................................................................................................................................... 94
Table 63:     Metro AG Capital Market Ratios (based on current share price) ................................................................................... 95
Table 64:     Metro AG Key Annual Ratios ........................................................................................................................................ 95
Table 65:     Metro AG Interim Ratios ................................................................................................................................................ 96
Table 66:     Metro AG SWOT Analysis ............................................................................................................................................. 96
Table 75:     Financial Scorecard of CVS Caremark Corp – 2008-2004 .......................................................................................... 100
Table 68:     CVS Caremark Corp. Key Facts ................................................................................................................................. 101
Table 69:     CVS Caremark Corp. Major Products and Services .................................................................................................... 103
Table 70:     CVS Caremark Corp. History ...................................................................................................................................... 104
Table 71:     CVS Caremark Corp. Capital Market Ratios (based on current share price) .............................................................. 105
Table 72:     CVS Caremark Corp. Key Annual Ratios .................................................................................................................... 105
Table 73:     CVS Caremark Corp. Interim Ratios ........................................................................................................................... 106
Table 74:     CVS Caremark Corp. SWOT Analysis ........................................................................................................................ 106
Table 83:     Financial Scorecard of The Kroger Co. – 2008-2004 .................................................................................................. 111
Table 76:     The Kroger Co. Key Facts ........................................................................................................................................... 112
Table 77:     The Kroger Co. Major Products and Services ............................................................................................................ 114
Table 78:     The Kroger Co. History ............................................................................................................................................... 115




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                                   Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                                             Page 12
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Table 79:        The Kroger Co. Capital Market Ratios (based on current share price) ........................................................................ 116
Table 80:        The Kroger Co. Key Annual Ratios ............................................................................................................................. 116
Table 81:        The Kroger Co. Interim Ratios..................................................................................................................................... 117
Table 82:        The Kroger Co. SWOT Analysis .................................................................................................................................. 117
Table 91:        Financial Scorecard of The Home Depot, Inc. – 2008-2004 ....................................................................................... 121
Table 84:        The Home Depot, Inc. Key Facts ................................................................................................................................ 122
Table 85:        The Home Depot, Inc. Major Products and Services ................................................................................................. 124
Table 86:        The Home Depot, Inc. History ..................................................................................................................................... 124
Table 87:        The Home Depot, Inc. Capital Market Ratios (based on current share price) ............................................................. 125
Table 88:        The Home Depot, Inc. Key Annual Ratios ................................................................................................................... 126
Table 89:        The Home Depot, Inc. Interim Ratios .......................................................................................................................... 127
Table 90:        The Home Depot, Inc. SWOT Analysis ....................................................................................................................... 127
Table 99:        Financial Scorecard of Target Corporation – 2008-2004 ............................................................................................ 131
Table 92:        Target Corporation Key Facts ..................................................................................................................................... 132
Table 93:        Target Corporation Major Products and Services ....................................................................................................... 133
Table 94:        Target Corporation History .......................................................................................................................................... 134
Table 95:        Target Corporation Capital Market Ratios (based on current share price) .................................................................. 136
Table 96:        Target Corporation Key Annual Ratios ........................................................................................................................ 136
Table 97:        Target Corporation Interim Ratios ............................................................................................................................... 137
Table 98:        Target Corporation SWOT Analysis ............................................................................................................................ 137
Table 107: Financial Scorecard of Walgreen Co. – 2008-2004..................................................................................................... 141
Table 100: Walgreen Co. Key Facts ............................................................................................................................................. 142
Table 101: Walgreen Co. Major Products and Services............................................................................................................... 143
Table 102: Walgreen Co. History .................................................................................................................................................. 144
Table 103: Walgreen Co. Capital Market Ratios (based on current share price) .......................................................................... 145
Table 104: Walgreen Co. Key Annual Ratios ................................................................................................................................ 145
Table 105: Walgreen Co. Interim Ratios ....................................................................................................................................... 146
Table 106: Walgreen Co. SWOT Analysis .................................................................................................................................... 147
Table 115: Financial Scorecard of Seven & i Holdings Co., Ltd. – 2008-2004 .............................................................................. 151
Table 108: Seven & I Holdings Co., Ltd. Key Facts ...................................................................................................................... 152
Table 109: Seven & I Holdings Co., Ltd. Major Products and Services ........................................................................................ 153
Table 110: Seven & I Holdings Co., Ltd. History ........................................................................................................................... 154
Table 111: Seven & I Holdings Co., Ltd. Capital Market Ratios (based on current share price) ................................................... 154
Table 112: Seven & I Holdings Co., Ltd. Key Annual Ratios ......................................................................................................... 155
Table 113: Seven & I Holdings Co., Ltd. Interim Ratios ................................................................................................................ 156
Table 114: Seven & I Holdings Co., Ltd. SWOT Analysis ............................................................................................................. 156
Table 123: Financial Scorecard of Lowe‟s Corporation, Inc.– 2008-2004 ..................................................................................... 160
Table 116: Lowe‟s Companies Inc Key Facts ............................................................................................................................... 161
Table 117: Lowe‟s Companies Inc Major Products and Services ................................................................................................. 162
Table 118: Lowe‟s Companies Inc History .................................................................................................................................... 164




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                                  Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                                            Page 13
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Table 119: Lowe‟s Companies Inc Capital Market Ratios (based on current share price) ............................................................ 164
Table 120: Lowe‟s Companies Inc Key Annual Ratios .................................................................................................................. 165
Table 121: Lowe‟s Companies Inc Interim Ratios ......................................................................................................................... 166
Table 122: Lowe‟s Companies Inc SWOT Analysis ...................................................................................................................... 166
Table 131: Financial Scorecard of Sears Holding Corporation – 2008-2004 ................................................................................ 170
Table 124: Sears Holdings Corporation Key Facts ....................................................................................................................... 171
Table 125: Sears Holdings Corporation Major Products and Services ........................................................................................ 173
Table 126: Sears Holdings Corporation History ............................................................................................................................ 174
Table 127: Sears Holdings Corporation Capital Market Ratios (based on current share price) .................................................... 175
Table 128: Sears Holdings Corporation Key Annual Ratios .......................................................................................................... 175
Table 129: Sears Holdings Corporation Interim Ratios ................................................................................................................. 176
Table 130: Sears Holdings Corporation SWOT Analysis .............................................................................................................. 176
Table 139: Financial Scorecard of Best Buy Co, Inc. – 2008-2004 ............................................................................................... 181
Table 132: Best Buy Co, Inc. Key Facts........................................................................................................................................ 182
Table 133: Best Buy Co, Inc. Major Products and Services .......................................................................................................... 183
Table 134: Best Buy Co, Inc. History ............................................................................................................................................ 184
Table 135: Best Buy Co, Inc. Capital Market Ratios (based on current share price) .................................................................... 185
Table 136: Best Buy Co, Inc. Key Annual Ratios .......................................................................................................................... 186
Table 137: Best Buy Co, Inc. Interim Ratios ................................................................................................................................. 187
Table 138: Best Buy Co, Inc. SWOT Analysis .............................................................................................................................. 187
Table 147: Financial Scorecard of AEON Co., Ltd. – 2008-2004 .................................................................................................. 191
Table 140: AEON Co., Ltd. Key Facts........................................................................................................................................... 192
Table 141: AEON Co., Ltd. Major Products and Services ............................................................................................................. 193
Table 142: AEON Co., Ltd. History ............................................................................................................................................... 194
Table 143: AEON Co., Ltd. Capital Market Ratios (based on current share price) ....................................................................... 196
Table 144: AEON Co., Ltd. Key Annual Ratios ............................................................................................................................. 196
Table 145: AEON Co., Ltd. Interim Ratios .................................................................................................................................... 197
Table 146: AEON Co., Ltd. SWOT Analysis ................................................................................................................................. 197
Table 155: Financial Scorecard of SUPERVALU INC. – 2008-2004 ............................................................................................. 201
Table 148: SUPERVALU INC. Key Facts ..................................................................................................................................... 202
Table 149: SUPERVALU INC. Major Products and Services........................................................................................................ 203
Table 150: SUPERVALU INC. History .......................................................................................................................................... 204
Table 151: SUPERVALU INC. Capital Market Ratios (based on current share price) .................................................................. 205
Table 152: SUPERVALU INC. Key Annual Ratios ........................................................................................................................ 205
Table 153: SUPERVALU INC. Interim Ratios ............................................................................................................................... 206
Table 154: SUPERVALU INC. SWOT Analysis ............................................................................................................................ 207
Table 163: Financial Scorecard of Safeway Inc. – 2008-2004 ...................................................................................................... 211
Table 156: Safeway Inc. Key Facts ............................................................................................................................................... 212
Table 157: Safeway Inc. Major Products and Services ................................................................................................................. 214
Table 158: Safeway Inc. History ................................................................................................................................................... 214




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                                Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                                          Page 14
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Table 159: Safeway Inc. Capital Market Ratios (based on current share price)............................................................................ 215
Table 160: Safeway Inc. Key Annual Ratios ................................................................................................................................. 216
Table 161: Safeway Inc. Interim Ratios......................................................................................................................................... 217
Table 162: Safeway Inc. SWOT Analysis...................................................................................................................................... 217
Table 171: Financial Scorecard of Wesfarmers Limited – 2008-2004 ........................................................................................... 221
Table 164: Wesfarmers Limited Key Facts ................................................................................................................................... 222
Table 165: Wesfarmers Limited Major Products and Services...................................................................................................... 224
Table 166: Wesfarmers Limited History ........................................................................................................................................ 225
Table 167: Wesfarmers Limited Capital Market Ratios (based on current share price) ................................................................ 225
Table 168: Wesfarmers Limited Key Annual Ratios ...................................................................................................................... 226
Table 169: Wesfarmers Limited Interim Ratios ............................................................................................................................. 227
Table 170: Wesfarmers Limited SWOT Analysis .......................................................................................................................... 227
Table 179: Financial Scorecard of Casino Guichard-Perrachon – 2008-2004 .............................................................................. 231
Table 172: Casino Guichard-Perrachon Key Facts ....................................................................................................................... 232
Table 173: Casino Guichard-Perrachon Major Products and Services ......................................................................................... 233
Table 174: Casino Guichard-Perrachon History ............................................................................................................................ 235
Table 175: Casino Guichard-Perrachon Capital Market Ratios (based on current share price) .................................................... 236
Table 176: Casino Guichard-Perrachon Key Annual Ratios ......................................................................................................... 237
Table 177: Casino Guichard-Perrachon Interim Ratios ................................................................................................................. 238
Table 178: Casino Guichard-Perrachon SWOT Analysis .............................................................................................................. 238
Table 187: Financial Scorecard of Koninklijke Ahold N.V. – 2008-2004 ...................................................................................... 241
Table 180: Koninklijke Ahold N.V. Key Facts ............................................................................................................................... 242
Table 181: Koninklijke Ahold N.V. Major Products and Services ................................................................................................. 244
Table 182: Koninklijke Ahold N.V. History .................................................................................................................................... 244
Table 183: Koninklijke Ahold N.V. Capital Market Ratios (based on current share price) ............................................................ 246
Table 184: Koninklijke Ahold N.V. Key Annual Ratios.................................................................................................................. 246
Table 185: Koninklijke Ahold N.V. Interim Ratios ......................................................................................................................... 247
Table 186: Koninklijke Ahold N.V. SWOT Analysis ...................................................................................................................... 248
Table 195: Financial Scorecard of J Sainsbury plc – 2008-2004 .................................................................................................. 252
Table 188: J Sainsbury plc Key Facts .......................................................................................................................................... 253
Table 189: J Sainsbury plc Major Products and Services ............................................................................................................. 254
Table 190: J Sainsbury plc History ............................................................................................................................................... 254
Table 191: J Sainsbury plc Capital Market Ratios (based on current share price) ....................................................................... 255
Table 192: J Sainsbury plc Key Annual Ratios ............................................................................................................................ 255
Table 193: J Sainsbury plc Interim Ratios .................................................................................................................................... 256
Table 194: J Sainsbury plc SWOT Analysis ................................................................................................................................. 257




Global Top 20 Retailers – Company Benchmarking Analysis                                                                                               Published January 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied                                                                         Page 15
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