This is how the universe seems when a long-standing, major retailer of home textiles leaves the scene.
For the first time in three decades, the iconic Bed Bath & Beyond company has ceased operations and is not included in HTT’s unique ranking of the Top 50 Retail Giants.
Another first: owing to support from Supima, HTT is providing its annual ranking online before it is published in print.
Several important conclusions:
- The largest retailers in the market now are off-pricers, discounters, and two strong specialized retailers: Ikea and HomeGoods. In 2023, the majority of that group maintained their share growth.
- Among the six merchants that experienced double-digit growth in their soft home sales, Amazon emerged as the biggest winner, with sales rising by 17.3%.
- Walmart continues to rule the industry and is comfortably ahead of its top competitors on the ranking, even in spite of its rapid growth.
- Ross Stores rises from #7 to #5 in the rankings
- After becoming a member of the $1 Billion Club, Burlington Stores climbs to the eighth spot.
Costco is the first retailer to enter the Top 10, despite having the lowest dollar growth in home textile sales among its competitors.
Kohl’s maintained their sixth-place rating despite an erratic year.- You may access the complete study at https://hometextilestoday-nc.newsmemory.com/?special=The+Top+50+Retail+Giants, which includes breakout tables.
The report will be published in print in HTT’s September issue, which will be available for purchase at the New York Home Fashions Market.
