An industry chapter · Department & General Merchandise Stores
Department & General Merchandise Stores
20 members, 3086 to WMT, A to Z by ticker.
Gross profitability
median 41% — gross profit as a share of total assets, each member's median across its readable years; read on 19 of 20 members
Capital intensity
median 2.9% — capital expenditure as a share of revenue, each member's median across its readable years; read on 19 of 20 members
Net cash
8 of the 20 members with a readable debt line hold more cash and short-term investments than total debt
Figures describe the list as a group, from each member's own filed record; they name no
member and form no rank. A member missing an input is absent from that median, never counted
against the others.
From the latest filings · data as of July 9, 2026.
An asset-light business: the value sits in intellectual property and people, not plant, so the question is how durable the advantage is, not how high the margin.
Costco runs a chain of membership warehouse clubs: large, no-frills stores where shoppers pay an annual fee for the right to buy. It stocks a deliberately narrow range of goods — food and household staples alongside general merchandise such as apparel, appliances and home goods, plus ancillary offerings like gasoline, pharmacy and optical — and sells them in bulk at very small markups. The merchandise moves close to cost; the membership fee is where most of the profit comes from.
Dollar General runs the largest chain of discount stores in the United States, counted by number of locations — small-format shops concentrated across the southern, midwestern and eastern parts of the country. It sells everyday goods cheaply, with consumables — the household and food items people buy and use up — making up most of the sales, and seasonal merchandise, home products and apparel behind. It carries both national brands and its own private labels priced below them, and earns its keep on the spread between what it pays for the goods and what shoppers pay at the register.
Macy's is a department-store retailer. It buys apparel, shoes, accessories, cosmetics, and fragrances at wholesale and resells them to ordinary shoppers — mostly women — through its stores and its website, with women's accessories, shoes, cosmetics, and apparel making up the bulk of the sales. It also runs the higher-end Bloomingdale's and Bluemercury banners and owns a meaningful share of the real estate its stores occupy.
Target runs discount stores across the United States, selling general merchandise and everyday essentials to shoppers it calls guests, both in its stores and through digital channels. It buys goods, much of it imported, and resells them at a markup, leaning on design, style, value, and a curated multi-category assortment to set itself apart from other big-box sellers. The largest sales lines are food and beverage and household essentials, with several other merchandise categories behind them.
Walmart runs discount stores and membership warehouse clubs that sell groceries and general merchandise to everyday shoppers, both in its buildings and online. Most of the money comes from its US stores, with the rest split between markets abroad and the Sam's Club warehouses. It buys goods in enormous volume, marks them up little, and keeps a thin slice on each sale across an immense number of transactions.
Retained capitalRetained $10.1B of earnings over 2017–2026; annual owner earnings grew $6.0B.
Balance sheetModest net debt, $28.1B · buybacks at an average near $38.19 · dividend paid 10 of 10 yrs, never cut
The same four lines for every member, in strict ticker order; a figure that could not be read
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list and names no member; the entries carry no ranking and form no score. What a chapter
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