Irish retailer, Dunnes Stores, has jumped five places in the rankings of global retailers, according to checkout magazine. Consultants, Deloitte, have estimated the retailer’s 2008 turnover to be €2.41 billion.
The Deloitte Top 250 Global Retailers 2010 report, which was published yesterday, places Dunnes at No. 231 in the global rankings, up from No. 236 in the previous year.
According to the report, Dunnes’ estimated turnover grew by 9% (2008 vs 2007), with a compound annual growth rate of 3% for the 2003-2008 period.
Dunnes Stores are notoriously secretive about their figures, but given that the Dunnes operation also includes a sizeable homewares and clothing division, the Deloitte figures would seem to represent a relatively conservative estimate.
For example, Musgrave’s SuperValu chain (take-home grocery market share circa 20-21%) posted full-year retail sales of €2.3 billion for the 2008 financial year, while Tesco PLC (take-home grocery market share circa 25-26%) reported sales of just over €3 billion for their 2008/9 financial period. Neither Tesco nor SuperValu, while perhaps stronger in other areas than Dunnes, would have anything near the non-grocery penetration that Dunnes has, which would suggest that the real Dunnes figure (grocery and homewares combined) is much closer to the €3 billion mark. Dunnes has a grocery market share of around 24%. Aside from Dunnes, the 2010 report also saw one other significant shift from an Irish grocery perspective. Tesco, which has held the position as the world’s third largest grocer for a number of years, slipped back to No. 4, with the giant German retail/wholesale operation Metro AG leapfrogging it.
Wal-Mart, which operates in Northern Ireland as ASDA, remains far and away the biggest global player, with retail sales of $400 billion – some three times bigger than the No. 2 retailer, Carrefour.