Retailer Walmart again tops Fortune’s 500 list
The retail giant Wal-Mart replaced ExxonMobil as the biggest revenue maker on Fortune’s list of the 500 biggest US companies. AFP photoWal-Mart Stores once again topped Fortune’s list of the 500 biggest U.S. companies by revenue, as the world’s largest retailer succeeded in posting strong growth despite a challenging economy for its shoppers.
The company’s revenue grew nearly 6 percent in 2012 to $469.2 billion. Exxon Mobil dropped to the second rank, with revenue of $449.9 billion, but was still the most profitable. Energy companies continued to dominate the top of the list, with rival oil and gas producer Chevron holding steady at third place and refiners Valero Energy and Phillips 66, spun off from ConocoPhillips last year, joining the top 10.
Moving up two spots to fifth place is Warren Buffett’s Berkshire Hathaway, which owns everything from insurers to railroads to newspaper publishers and is in the process of acquiring Heinz Manufacturing stalwarts General Motors, Ford Motor and General Electric remained in the top ten. However, bigger sales of iPads and iPhones helped Apple jump 11 spots to crack the top 10 for the first time, landing at sixth place.