TABLE OF CONTENTS
Executive summary 7
Industry analysis 7
Industry definition 7
Global top 10 multiline companies 7
Market value 8
Market segmentation—product 9
Market segmentation—geography 10
Five forces analysis 11
Global top 10 companies landscape 17
Overview 17
Top 10 Companies Landscape 18
Revenue analysis 20
Financial performance analysis 21
Operating profit analysis 22
Net profit analysis 23
Ratio analysis 24
Company reports 26
Wal-Mart Stores, Inc. 26
The Kroger Co. 31
Costco Wholesale Corporation 36
Target Corporation 40
Aeon Co. Ltd. 45
Seven & i Holdings Co., Ltd 48
Sears Holdings Corporation 52
PPR SA 57
Loblaw Companies Limited 62
JC Penney Corporation 66
Financial analysis 70
Wal-Mart Stores, Inc. 70
The Kroger Co. 73
Costco Wholesale Corporation 76
Target Corporation 79
Aeon Co. Ltd 82
Seven & i Holdings Co., Ltd 85
Sears Holdings Corporation 88
PPR SA 91
Loblaw Companies Limited 94
JC Penney Corporation 97
Appendix 100
FIGURES
Figure 1: Global multiline retail industry value, $ billion, 2004–08 8
Figure 2: Global multiline retail industry segmentation—product ,% share, by value, 2008 9
Figure 3: Global multiline retail industry segmentation–geography ,% share, by value, 2008 10
Figure 4: Forces driving competition in the global multiline retail industry, 2008 11
Figure 5: Drivers of buyer power in the global multiline retail industry, 2008 12
Figure 6: Drivers of supplier power in the global multiline retail industry, 2008 13
Figure 7: Factors influencing the likelihood of new entrants in the global multiline retail industry, 2008 14
Figure 8: Factors influencing the threat of substitutes in the global multiline retail industry, 2008 15
Figure 9: Drivers of degree of rivalry in the global multiline retail industry, 2008 16
Figure 10: Turnover of global top 10 multiline retailers, $ million, 2008 18
Figure 11: Revenue growth rates of global top 10 multiline retailers, 2006–08 21
Figure 12: Operating profit analysis of global top 10 multiline retailers, 2008 22
Figure 13: Net profit analysis of global top 10 multiline retailers, 2008 23
TABLES
Table 1: Global multiline retail industry value, $ billion, 2004–08 8
Table 2: Global multiline retail industry segmentation—product ,% share, by value, 2008 9
Table 3: Global multiline retail industry segmentation—geography ,% share, by value, 2008 10
Table 4: Turnover of global top 10 multiline retailers, $ million, 2008 17
Table 5: Revenue growth of global top 10 multiline retailers, 2006–08 20
Table 6: Key financials of global top 10 multiline retailers, 2008 21
Table 7: Key industry–specific ratios 24
Table 8: Wal-Mart—Financial and operational highlights, 2005–09 ($ million) (1) 70
Table 9: Wal-Mart—Financial and operational highlights, 2005–09 ($ million) (2) 71
Table 10: Wal-Mart—Key industry specific ratios, 2005–09 72
Table 11: Kroger—Financial and operational highlights, 2005–09 ($ million) (1) 73
Table 12: Kroger—Financial and operational highlights, 2005–09 ($ million) (2) 74
Table 13: Kroger—Key Industry Specific Ratios, 2005–09 75
Table 14: Costco—Financial and operational highlights, 2004–08 ($ million) (1) 76
Table 15: Costco—Financial and operational highlights, 2004–08 ($ million) (2) 77
Table 16: Costco—Key industry specific ratios, 2004–08 78
Table 17: Target—Financial and operational highlights, 2005–09 ($ million) (1) 79
Table 18: Target—Financial and operational highlights, 2005–09 ($ million) (2) 80
Table 19: Target—Key industry specific ratios, 2005–09 81
Table 20: Aeon—Financial and operational highlights, 2005–09 ($ million) (1) 82
Table 21: Aeon—Financial and operational highlights, 2005–09 ($ million) (2) 83
Table 22: Aeon—Key industry specific ratios, 2005–09 84
Table 23: Seven & i—Financial and operational highlights, 2005–09 ($ million) (1) 85
Table 24: Seven & i—Financial and operational highlights, 2005–09 ($ million) (2) 86
Table 25: Seven & i—Key industry specific ratios, 2005–09 87
Table 26: Sears—Financial and operational highlights, 2005–09 ($ million) (1) 88
Table 27: Sears—Financial and operational highlights, 2005–09 ($ million) (2) 89
Table 28: Sears—Key industry specific ratios, 2005–09 90
Table 29: PPR—Financial and operational highlights, 2004–08 ($ million) (1) 91
Table 30: PPR—Financial and operational highlights, 2004–08 ($ million) (2) 92
Table 31: PPR—Key industry specific ratios, 2004–08 93
Table 32: Loblaw—Financial and operational highlights, 2004–08 ($ million) (1) 94
Table 33: Loblaw—Financial and operational highlights, 2004–08 ($ million) (2) 95
Table 34: Loblaw—Key industry specific ratios, 2004–08 96
Table 35: JC Penney—Financial and operational highlights, 2005–09 ($ million) (1) 97
Table 36: JC Penney—Financial and operational highlights, 2005–09 ($ million) (2) 98
Table 37: JC Penney—Key industry specific ratios, 2005–09 99