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Discount Stores Make NRF’s List of Fastest Growing Retail Companies

Every year, the National Retail Federation ranks the retail industry’s fastest growing companies based on year-over-year retail sales. The 2024 list suggests finding ways to save is still a priority for consumers as five of the top 25 companies are discount retailers, including two grocery operations. The growth percentages are for retail sales from 2022 to 2023.

  • #5: Aldi, 17.0% growth
  • #9, Five Below, 15.7% growth
  • #10, Ollie’s Bargain Outlet, 15.1% growth
  • #16, Burlington, 11.7% growth
  • #19, Grocery Outlet, 10.9% growth

Independent retail was also represented on the list. Superior Grocers made the list at #15 with 11.7% year-over-year growth. The operation is an independent grocery chain with 73 locations in California and Nevada. The company debuted on the list last year at #6 with year-over-year sales up over 30% from 2021 to 2022.

According to NRF, rankings are determined by increases in domestic sales year over year and all retail companies with global sales in excess of $2 billion are eligible.

About Lindsey Thompson

Lindsey joined the NHPA staff in 2021 as an associate editor for Hardware Retailing magazine. A native of Ohio, Lindsey earned a B.S. in journalism and minors in business and sociology from Ohio University. She loves spending time with her husband, two kids, two cats and one dog, as well as doing DIY projects around the house, going to concerts, boating and cheering on the Cleveland Indians.

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