Pandemic-Fueled Record Growth in 2020: The PG 100
Double-digit rates of growth were common among companies on this year’s PG 100 ranking of North America’s largest retailers of food and consumables. The onset of a pandemic in early 2020 caused dramatic shifts in every aspect of American life, most notably the purchase of food. As a result, an overwhelming number of PG 100 companies experienced record rates of sales growth, which meant that the combined sales of PG 100 constituent companies increased 11.6% to $2,113 trillion, compared with $1,893 trillion last year.
For perspective, the food and consumables industry would normally consider a good year to be one in which a modest degree of inflation and increased consumption amid a strong economy produced a low single-digit gain. There were some companies that grew more slowly in 2020, but those situations tended to be caused by company-specific issues, rather than the overall demand environment, which benefited greatly from displaced demand from the foodservice industry. This once-in-a-lifetime phenomenon helped good retailers look great and great retailers look fantastic.
READ THE REST OF OUR ANALYSIS
Progressive Grocer’s 88th Annual Report: What’s Next For America’s Grocers
Some other key considerations when reviewing the PG 100 include:
- Progressive Grocer takes an expansive view of the competitive set for food and consumables. Distinctions between types of retailers are blurry, with food and consumables representing a key element of the value proposition for many nontraditional grocers.
- This expansive philosophy applies to geography as well. The PG 100 includes companies based in Canada and Mexico who may have operations in the United States, and the same is true of U.S. companies who operate north and south of U.S. borders.
- Companies seeing the strongest growth maintained store expansion during 2020 while also receiving a boost from pandemic-driven demand.
- Retailers with exposure to fuel sales suffered as fewer people traveled, and when they did so, paid lower average per-gallon prices for fuel.
- Retailers for whom prepared foods are a key aspect of their strategy were also challenged due to pandemic-related restrictions, which hindered operations.
Finally, it’s worth noting that creating a list of this type is an inexact science, due to large numbers of privately held companies that restrict access to the most basic details of their operations. A similar caveat was shared last year to highlight the inherent challenge in forecast. To compensate, we rely on public and private sources, independent research, and proven forecasting techniques common in the financial world. The result is an annual ranking intended to serve as the definitive guide to the 100 largest retailers of food and consumables in North America.
The PG 100
|
RANK |
COMPANY |
|
FY END REVENUE |
PRIOR YEAR |
% CHANGE |
STORE COUNT |
|
TOP EXECUTIVES |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
$369,963 |
$341,004 |
8.49% |
4,743 |
|
John Furner, President and CEO |
|
|
2 |
Amazon, NA retail, ex Whole Foods Market |
|
$220,058 |
$153,581 |
43.28% |
36 |
|
Jeff Bezos, Founder and CEO |
|
3 |
|
$132,498 |
$122,286 |
8.35% |
2,743 |
|
Rodney McMullen, Chairman and CEO |
|
|
4 |
|
$115,788 |
$106,092 |
9.14% |
552 |
|
Craig Jelinek, President and CEO |
|
|
5 |
|
$107,701 |
$104,532 |
3.03% |
9,021 |
|
Rosalind Brewer, CEO |
|
|
6 |
|
$93,561 |
$78,112 |
19.78% |
1,868 |
|
Brian Cornell, Chairman and CEO |
|
|
7 |
|
$91,198 |
$86,608 |
5.30% |
9,962 |
|
Karen Lynch, President and CEO |
|
|
8 |
|
$69,690 |
$62,455 |
11.58% |
2,277 |
|
Vivek Sankaran, President and CEO |
|
|
9 |
|
$63,910 |
$58,792 |
8.71% |
599 |
|
Kathryn McLay, President and CEO |
|
|
10 |
|
$51,838 |
$44,841 |
15.60% |
1,970 |
|
Kevin Holt, CEO |
|
|
11 |
|
$44,864 |
$38,116 |
17.70% |
1,264 |
|
Randall T. Jones, Sr., CEO |
|
|
12 |
|
$41,388 |
$37,716 |
9.74% |
2,439 |
|
Galen Weston, Executive Chairman |
|
|
13 |
|
$36,816 |
$29,700 |
23.96% |
354 |
|
Charles Butt, Chairman and CEO |
|
|
14 |
|
$36,680 |
$38,999 |
-5.95% |
7,283 |
|
Brian Hannasch, President and CEO |
|
|
15 |
|
$33,746 |
$27,753 |
21.59% |
17,177 |
|
Todd Vasos, Chairman and CEO |
|
|
16 |
|
$31,450 |
$28,500 |
10.35% |
7,700 |
|
Bob Palmer, CEO |
|
|
17 |
Walmart de Mexico y CentroAmerica (Mexico only) |
|
$28,664 |
$26,517 |
8.10% |
2,634 |
|
Guilherme Loureiro, President and CEO |
|
18 |
|
$24,157 |
$20,350 |
18.71% |
256 |
|
Rick Keyes, President and CEO |
|
|
19 |
|
$24,043 |
$21,928 |
9.65% |
2,510 |
|
Heyward Donigan, President and CEO |
|
|
20 |
Costco (Canada) |
|
$21,185 |
$19,502 |
8.63% |
101 |
|
Pierre Riel, SVP/Country Mgr. Canada |
|
21 |
|
$19,991 |
$18,420 |
8.53% |
408 |
|
Horatio Barbeito, President and CEO |
|
|
22 |
Empire Company Ltd. (Sobeys) |
|
$18,934 |
$17,904 |
5.75% |
1,547 |
|
Michael Medline, President and CEO |
|
23 |
|
$18,300 |
$16,650 |
9.91% |
363 |
|
Joe Colallilo, Chairman and CEO |
|
|
24 |
|
$17,056 |
$15,486 |
10.14% |
2,080 |
|
Jason Hart, CEO |
|
|
25 |
7-Eleven Inc. (U.S. only) |
|
$16,749 |
$20,874 |
-19.76% |
9,298 |
|
Joe DePinto, CEO |
|
26 |
Amazon (Whole Foods Market, U.S. and Canada) |
|
$16,006 |
$16,960 |
-5.63% |
514 |
|
John Mackey, Co-Founder and CEO |
|
27 |
|
$15,430 |
$13,190 |
16.98% |
221 |
|
Bob Eddy, President and CEO |
|
|
28 |
|
$14,100 |
$13,000 |
8.46% |
530 |
|
Dan Bane, Chairman and CEO |
|
|
29 |
Metro (Canada) |
|
$13,453 |
$12,534 |
7.33% |
1,601 |
|
Eric R. La Fleche, President and CEO |
|
30 |
|
$13,265 |
$12,507 |
6.06% |
7,805 |
|
Michael Witynski, President and CEO |
|
|
31 |
Marathon Petroleum (Speedway) |
|
$12,303 |
$13,963 |
-11.89% |
3,839 |
|
Michael Hennigan, President and CEO |
|
32 |
|
$12,243 |
$11,102 |
10.28% |
7,880 |
|
Michael Witynski, President and CEO |
|
|
33 |
|
$11,900 |
$12,500 |
-4.80% |
901 |
|
Chris Gheysens, President and CEO |
|
|
34 |
|
$11,150 |
$10,200 |
9.31% |
275 |
|
Randy Edeker, Chairman and CEO |
|
|
35 |
|
$10,695 |
$9,700 |
10.26% |
105 |
|
Colleen Wegman, President and CEO |
|
|
36 |
|
$10,634 |
$9,666 |
10.01% |
3,200 |
|
Dave Smith, President and CEO |
|
|
37 |
|
$9,850 |
$9,350 |
5.35% |
488 |
|
Laura Karet, CEO |
|
|
38 |
|
$9,350 |
$9,800 |
-4.59% |
552 |
|
Max McBrayer, CEO |
|
|
39 |
|
$9,348 |
$8,536 |
9.51% |
156 |
|
Tony Sarsam, President and CEO |
|
|
40 |
|
$9,175 |
$9,352 |
-1.89% |
2,207 |
|
Darren Rebelez, CEO |
|
|
41 |
EG America (C-stores) |
|
$8,425 |
$8,950 |
-5.87% |
1,730 |
|
George Fournier, President |
|
42 |
Costco (Mexico) |
|
$8,180 |
$7,605 |
7.56% |
39 |
|
Jaime Gonzalez, SVP/Country Mgr. Mexico |
|
43 |
|
$8,033 |
$6,667 |
20.49% |
419 |
|
Anthony Hucker, President and CEO |
|
|
44 |
|
$7,795 |
$6,858 |
13.66% |
131 |
|
Grant Haag, CEO |
|
|
45 |
|
$7,618 |
$7,554 |
0.85% |
795 |
|
Ricardo Martin Bringas, CEO |
|
|
46 |
Alimentation Couche-Tard (Canada, Couche-Tard) |
|
$6,739 |
$7,155 |
-5.81% |
2,131 |
|
Brian Hannasch, President and CEO |
|
47 |
United Natural Foods Inc. (Independent sales only) |
|
$6,699 |
$5,536 |
21.01% |
N/A |
|
Steven Spinner, Chairman and CEO |
|
48 |
|
$6,468 |
$5,634 |
14.80% |
362 |
|
Jack Sinclair, CEO |
|
|
49 |
|
$6,199 |
$5,323 |
16.46% |
1,410 |
|
Bruce Thorn, President and CEO |
|
|
50 |
Demoulas Super Markets Inc. (Market Basket) |
|
$5,600 |
$5,200 |
7.69% |
84 |
|
Arthur Demoulas, President and CEO |
|
51 |
|
$5,250 |
$4,600 |
14.13% |
206 |
|
Nicole Pesco, CEO |
|
|
52 |
HEB (Mexico) |
|
$5,184 |
$4,500 |
15.20% |
71 |
|
Fernando Martinez, Director General |
|
53 |
|
$5,142 |
$4,368 |
17.72% |
181 |
|
Darrell Jones, President |
|
|
54 |
|
$5,119 |
$4,507 |
13.58% |
170 |
|
Pete Van Helden, CEO |
|
|
55 |
|
$4,610 |
$4,202 |
9.71% |
197 |
|
James Lanning, President and CEO |
|
|
56 |
Golub Corp. (Price Chopper/Market 32) |
|
$4,334 |
$3,860 |
12.28% |
131 |
|
Scott Grimmett, CEO |
|
57 |
|
$4,175 |
$4,014 |
4.01% |
1,000 |
|
Kenneth McGrath, CEO |
|
|
58 |
Grupo Commercial Chedraui (Mex only) |
|
$4,146 |
$3,872 |
7.08% |
325 |
|
Jose Antonio Chedraui Eguia |
|
59 |
|
$4,141 |
$3,601 |
15.00% |
254 |
|
Dave Hirz, President and CEO |
|
|
60 |
|
$4,112 |
$3,543 |
16.06% |
196 |
|
Jonathan Weis, Chairman, President and CEO |
|
|
61 |
|
$3,975 |
$3,470 |
14.55% |
124 |
|
Keith Knopf, President and CEO |
|
|
62 |
|
$3,714 |
$3,258 |
14.00% |
181 |
|
Brad Brookshire, Chairman and CEO |
|
|
63 |
|
$3,900 |
$3,700 |
5.41% |
177 |
|
Bill Moore, Director and CEO |
|
|
64 |
|
$3,450 |
$3,100 |
11.29% |
112 |
|
Todd Schnuck, Chairman and CEO |
|
|
65 |
Alex Lee Inc., (Lowes Foods) |
|
$3,350 |
$3,050 |
9.84% |
113 |
|
Brian George, President and CEO |
|
66 |
|
$3,260 |
$2,937 |
11.00% |
162 |
|
Frank Curci, Chairman and CEO |
|
|
67 |
Bodega Latina Corp. (El Super/Fiesta) |
|
$3,159 |
$2,577 |
22.58% |
123 |
|
Carlos Smith, President and CEO |
|
68 |
|
$3,150 |
$2,963 |
6.31% |
1,356 |
|
Neil Rossy, President and CEO |
|
|
69 |
|
$3,134 |
$2,559 |
22.47% |
380 |
|
Eric Lindberg, CEO |
|
|
70 |
K-VA-T Food Stores Inc. (Food City) |
|
$2,968 |
$2,612 |
13.63% |
136 |
|
Steven C. Smith, CEO |
|
71 |
|
$2,759 |
$2,440 |
13.07% |
127 |
|
John Alston, President and CEO |
|
|
72 |
|
$2,700 |
$2,405 |
12.27% |
391 |
|
Barry Feld, CEO |
|
|
73 |
|
$2,631 |
$2,922 |
-9.96% |
1,165 |
|
Macedonio Garza Hernandez, CEO |
|
|
74 |
|
$2,620 |
$2,400 |
9.17% |
403 |
|
Robert Obray, President and CEO |
|
|
75 |
|
$2,546 |
$1,258 |
102.38% |
0 |
|
Dominik Richter, CEO |
|
|
76 |
|
$2,487 |
$2,241 |
10.98% |
159 |
|
Jason Potter, CEO |
|
|
77 |
|
$2,466 |
$2,190 |
12.60% |
85 |
|
Charles D’Amour, President and CEO |
|
|
78 |
|
$2,381 |
$2,185 |
8.97% |
118 |
|
Edward Basha III, CEO |
|
|
79 |
Giant Tiger (Canada) |
|
$2,350 |
$2,150 |
9.30% |
260 |
|
Paul Wood, President and COO |
|
80 |
Bozzuto's Inc. (wholesale) |
|
$2,300 |
$2,010 |
14.43% |
N/A |
|
Michael Bozzuto, President and CEO |
|
81 |
|
$2,166 |
$1,952 |
10.96% |
124 |
|
Reynolds Cramer, President and CEO |
|
|
82 |
|
$2,150 |
$1,950 |
10.26% |
425 |
|
Dion Houchins, Chairman and CEO |
|
|
83 |
|
$1,631 |
$1,470 |
10.95% |
98 |
|
Paul Butera, Chairman and CEO |
|
|
84 |
|
$1,587 |
$1,408 |
12.71% |
65 |
|
Donny Rouse, CEO |
|
|
85 |
|
$1,519 |
$1,381 |
9.99% |
18 |
|
Phil Woodman, President |
|
|
86 |
|
$1,511 |
$1,400 |
7.93% |
120 |
|
Chris Coborn, President and CEO |
|
|
87 |
|
$1,464 |
$1,343 |
9.01% |
146 |
|
Roger Lowe Jr., CEO |
|
|
88 |
|
$1,458 |
$1,250 |
16.64% |
37 |
|
Robert Sumas, CEO |
|
|
89 |
|
$1,455 |
$1,275 |
14.12% |
97 |
|
Il Yeon Kwon, Founder and CEO |
|
|
90 |
|
$1,353 |
$1,230 |
10.00% |
60 |
|
Marc Glassman, Chairman |
|
|
91 |
|
$1,311 |
$1,209 |
8.44% |
52 |
|
Enrique Gonzalez Jr., President and CEO |
|
|
92 |
|
$1,155 |
$1,050 |
10.00% |
159 |
|
Rafael Ortega |
|
|
93 |
|
$1,135 |
$1,050 |
8.10% |
35 |
|
Agustin Herran, President and CEO |
|
|
94 |
|
$1,036 |
$904 |
14.60% |
159 |
|
Kemper Isley, Chairman, Director and Co-President |
|
|
95 |
|
$1,025 |
$779 |
31.58% |
125 |
|
Michal Laguionk, President and CEO |
|
|
96 |
|
$1,007 |
$940 |
7.13% |
70 |
|
Gerald Melville, President |
|
|
97 |
|
$865 |
$787 |
9.91% |
46 |
|
Mimi Song, President and CEO |
|
|
98 |
|
$845 |
$736 |
14.81% |
34 |
|
Mark Skogen, CEO |
|
|
99 |
|
$711 |
$656 |
8.38% |
41 |
|
Miguel Gonzalez Reynoso, President and CEO |
|
|
100 |
|
$650 |
$610 |
6.55% |
53 |
|
Alice Chen, CEO |
|
|
TOTAL |
|
$2,112,082 |
$1,891,955 |
11.6% |
Source: Company reports, Progressive Grocer research, industry and analyst estimates
