Inside the 2026 Kantar-NRF U.S. Hot 25 Retailers List
The National Retail Federation and Kantar have published the 2026 edition of the U.S. Hot 25 Retailers list, ranking the fastest-growing US retail companies based on year-over-year domestic sales increases between 2024 and 2025. The methodology focuses on growth rate, not absolute size, meaning mid-tier players that outpace giants can steal the spotlight. To qualify, a retailer must have global sales exceeding $2 billion, and privately held firms are included through Kantar’s Retail IQ estimates.
Among the standouts this year are several names propelled by major acquisitions. One top performer saw US sales jump by more than 50% year-on-year—a surge directly tied to the integration of Foot Locker in fiscal 2025. Another fast riser, Asian supermarket chain 99 Ranch Market, posted a 24.2% domestic sales increase, adding $513 million to reach $691 million in US sales, aided in part by the earlier acquisition of Hibbett Sports. The list also rewards large-scale, organic growers: warehouse club Costco added $259 million in US sales, while convenience-store chain QuikTrip grew its domestic top line by 7.9% to $2.7 billion.
Telecom retail made an appearance as well, with Verizon Wireless securing a high rank—reflecting robust demand for connected devices and plan upgrades. Fast Retailing, the parent of Uniqlo, also features, underscoring the international apparel brand’s accelerating US expansion. The ranking strips out overseas performance, giving a pure view of the domestic market’s winners.
What the 2026 Rankings Reveal About the US Retail Landscape
The 2026 Hot 25 list captures more than individual company performance; it highlights structural shifts in US retail.
M&A as a Growth Accelerator
Several retailers owe their rapid percentage gains to acquisitions. The integration of Foot Locker and Hibbett Sports illustrates how strategic buyouts can vault a retailer into the top tier, even if organic growth remains modest. For investors, such jumps can mask underlying sales health, while for competitors they signal consolidation moves that reshape category landscapes.
Asian Grocers Are a Quiet Force
99 Ranch Market’s 24% growth underscores the rising purchasing power and cultural influence of Asian-American consumers. With a growing footprint beyond coastal hubs, Asian-format grocers are capturing share that legacy supermarkets cannot afford to ignore. The category’s expansion is fueling new supply chain and real estate strategies in dense urban and suburban markets alike.
The Unyielding Appeal of Value and Convenience
Costco’s steady addition of domestic sales, even with a growth percentage that pales next to the list’s top names, proves that value-oriented, membership-based models retain immense drawing power in an inflationary environment. Likewise, QuikTrip’s 7.9% growth highlights how convenience stores with fresh food and reliable service keep drawing customers away from traditional fuel-and-snack formats. These players are not just growing—they are redefining consumer expectations in their respective segments.
Verizon’s Presence Signals Retail-as-Service
The inclusion of a wireless carrier on the list reminds observers that retail sales are not limited to physical goods. Device upgrades, trade-in programs, and in-store service plans blur the line between product sales and recurring revenue, reinforcing that retail success increasingly hinges on ecosystem lock-in.
What Retail Leaders Should Watch
The Hot 25 list offers clear signals for retail executives, investors, and category managers:
- Scout Asian grocery alliances. With 99 Ranch growing at 24%, and similar chains expanding, mainstream grocers should evaluate partnership or private-label opportunities that cater to Asian-American households—a demographic with above-average grocery spend.
- Stress-test M&A assumptions. Acquisitions like Foot Locker or Hibbett Sports delivered immediate sales bumps, but the real test is integration and same-store sales. Executives eyeing deals should model post-merger organic growth and not rely solely on headline gains.
- Double down on value and fresh food. QuikTrip’s trajectory shows that convenience stores investing in high-quality foodservice and clean, modern formats can outgrow traditional peers. Retailers in adjacent segments should benchmark their own fresh-food credibility.
- View telecom retail as a competitive differentiator. Verizon’s ranking suggests that in-store customer experiences—trade-in programs, service bundles—can generate enough traffic to rival product-centric retailers. Shopping-center landlords and mall operators should consider telecom anchors as footfall stabilizers.
Risk & Opportunity Assessment
| Commercial Risk | Medium | Consolidation via M&A can concentrate market power among a few fast-movers, squeezing mid-tier rivals that lack acquisition budgets. |
| Competitive Risk | High | Asian-format grocers and value chains are gaining share at the expense of conventional supermarkets and c-stores; 99 Ranch and QuikTrip’s rates show the threat is accelerating. |
| Regulatory Risk | Low | No major antitrust actions appear directly linked to the listed retailers’ recent deals, though increased scrutiny of grocery consolidation could emerge. |
| Reputation Risk | Low | The rankings carry positive reputational implications for featured companies; negative sentiment would require a scandal unrelated to the data. |
| Technology Disruption | Medium | E-commerce pure-plays are notably absent from the top growth ranks, but omnichannel capabilities are now table stakes—any lag here will erode recent gains. |
| Commercial Opportunity | High | The list validates robust unit economics in Asian grocery, membership wholesale, and enhanced c-stores, opening paths for new entrants, franchise expansion, and targeted investment. |
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