Newspaper article The Florida Times Union

World of Business

Newspaper article The Florida Times Union

World of Business

Article excerpt

KROGER EDGES OUT SEARS FOR NO. 2 RETAIL SPOT

Supermarket operator Kroger Co., boosted by acquisitions, edged out Sears, Roebuck and Co. to become the nation's No. 2 retailer behind Wal-Mart, according to rankings released yesterday.

Since acquiring Portland, Ore.-based Fred Meyer for $13.5 billion last year, Kroger's revenues increased to $45 billion from roughly $30 billion before the merger, the National Retail Federation reported in its annual ranking of the top 100 U.S. retailers.

Kroger jumped five places, while Sears dropped to No. 3, with sales of $41 billion.

The registry is called the Triversity Top 100 for the Canadian-based retail consultant that co-sponsors the list. The rankings have been published for more than 20 years.

Wal-Mart, with 1999 sales of a whopping $165 billion, has topped the list since 1992.

Rounding out the top ten were: Home Depot, which rose from sixth to fourth; Albertson's, which jumped from 12th to fifth; Kmart, which fell from third to sixth; Target, which dropped from fourth to seventh; J.C. Penney, which fell from fifth to eighth; Safeway, which slipped from eighth to ninth; and Costco, which fell from ninth to 10th.

New to the list is Amazon.com, the first strictly online retailer to register. It made its debut at No. 93.

COMPAQ, IBM ANNOUNCE STORAGE ALLIANCE

Compaq Computer Corp. and IBM have agreed to structure their data storage capabilities to work together, planning to spend as much as $1 billion combined on their storage sectors.

In addition to compatibility of each company's storage hardware and software, the companies also will sell products from each other's storage product lines, they said in a joint announcement yesterday. Storage refers to facilities that allow major companies to handle massive amounts of data. …

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