Three Turkish firms ranked among world’s top 250 retailers
Turkish supermarket chains BİM, Migros and A101 have made it to Deloitte’s 2019 Global Powers of Retailing Top 250 companies list.
The leading discount store BİM Birleşik Mağazalar was ranked 150th on the list with $6.8 billion in retail revenue in the 2017 fiscal year.
The company, which operates in three countries, recorded a retail CAGR (the compound annual growth rate) of 20.1 percent between 2012 and 2017, according to the Deloitte report.
Revenues of Migros Ticaret, ranked 225th, stood at $4.2billion while its net income was $140 million.
“Migros continued to experience rapid revenue growth with a 38.7 percent year-on-year increase. This growth saw Migros increase its ranking in both the Fastest 50 from No. 37 to No. 25, and from No. 247 to No. 225 in the Top 250. This growth was a result of opening 193 stores in 2017 and acquiring a 96.25 percent stake in Kipa, a modern retailing chain with a presence in Turkey’s Aegean region,” the report noted.
Another discount store, A101 was ranked 237th in the global list. The company’s revenues amounted to $3.89 billion in 2017. Its revenue growth was a strong 32.7 percent.
“Turkish discount retailer A101 continued its recent rapid growth in FY2017, opening nearly 700 new stores throughout Turkey. They entered the Top 250 in position No. 237 despite the 17 percent drop in the value of the Turkish lira against the U.S. dollar,” the report said.
In its report, consultancy firm Deloitte also noted that the aggregate retail revenue for the Global Powers of Retailing Top 250 companies was $4.53 trillion in the 2017 fiscal year, with an average size of $18.1 billion per company.
Retail revenue increased for 83 percent of the world’s 250 largest retailers, it added.
“Europe has the highest number of Top 250 retailers, with 87 companies based in the region [34.8 percent] and its share of Top 250 revenue was 33.8 percent,” it said.