The Top 101 CE Retailers
In other trends, some non-traditional retailers increased sales. Walgreen’s saw a nine-percent increase to $254 million, although the company does plan to slow expansion to concentrate on existing stores. Staples rose 11.5 percent to $7.35 billion, and GameStop posted an impressive 23-percent increase to $7 billion, chocking up an enviable 10-percent gain in comps during the brutal holiday season. Costco continued its CE push, increasing sales by about 17 percent to $5.25 billion, while Amazon maintained its juggernaut, posting a 27-percent increase to almost $5 billion in CE sales, up from just under $4 billion in 2007.
But that was then.
Most retailers, in the early months of this year, reported lower-than-expected earnings. Companies scrambled to cope in the new economy. Office Depot announced plans to shut 112 stores, while ShopNBC parent ValueVision cut 60 more jobs at the beginning of the year and Petters Group Worldwide, a minority shareholder of Fingerhut, filed for Chapter 11 bankruptcy.