By Andrew Starke

Woolworths and Wesfarmers-owned Coles have retained their top thirty positions amongst the world’s largest retailers, according to the Deloitte 2010 Global Powers of Retailing report.

Entitled “Emerging from the Downturn”, the study of the 2008 fiscal year placed Woolworths at 26 largest on a list of 250 largest retailers globally (down from 22nd the previous year), with Wesfarmers two places lower at 28th.

Despite the small drop in ranking, Woolworths was named 11th in the world for the highest market capitalisation to assets ratio (also known as the Q ratio).

The two Australian retail giants remained in third and fourth places respectively in the Asia-Pacific top ten, the same position as the previous year when Coles was in fourth position and Wesfarmers fifth.

Wesfarmers acquired the Coles Group in November 2007.

The acquisition helped advance the WA-based company’s 2003-08 compound growth rate by 62.7 percent (the second largest globally) and it jumped eight positions overall (36th in 2009 and 176th in 2008).

Audit partner and Deloitte’s Consumer Business leader, Andrew Griffiths, said the two iconic Australian companies did exceptionally well in a difficult year for the global retail industry.

“Woolworths and Wesfarmers punch above their weight and have weathered the global economic storm better than most retail companies globally,” he said.

“Their respective listing in the top 30 retailers globally is extraordinary given our relatively small population.”

The other companies in the top 30 originate mainly from heavily populated countries such as the United States, Germany, UK, Japan and France.

“If you add the fact the most of those also operate in multiple countries, unlike Woolworths and Wesfarmers, you get a far better appreciation of the way Australian retailers fare,” said Griffiths.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

Leave a comment

Your email address will not be published. Required fields are marked *