Retail
Retail
Retail at a Glance
Structural signals from the latest reported years. The four thesis tabs keep home improvement, off-price, auto, and specialty separate.
- •Home Depot FY2025 net sales were $164.7 billion, +3.2%, with comps +0.3% and $6.3 billion of incremental SRS and GMS sales.
- •Lowe's FY2025 sales were $86.3 billion with comps +0.2%. Online was 13% of retail sales.
- •TJX FY2026 net sales were $60.4 billion, +7%, with Marmaxx $36.6 billion and group comps +5%.
- •Ross FY2025 sales were $22.8 billion, +8%, with comps +5% and 2,267 stores.
- •Carvana sold 596,641 retail units in 2025, +43%, on $20.3 billion of revenue.
- •O'Reilly 2025 sales were about 50% DIY and 50% professional. AutoZone domestic commercial was 31.7% of domestic sales.
- •Walmart, Costco, Target, and dollar stores stay on Consumer Staples. Fashion houses stay on Apparel.
Headline numbers
Eight sourced snapshot figures. Fiscal years are not aligned. AutoZone ended August 30, 2025. Home Depot and Lowe's ended late January 2026.
Home Depot FY2025 sales
$164.7B
Year ended February 1, 2026. +3.2% vs $159.5B. Comps +0.3%. SRS and GMS added $6.3B of incremental sales.
HD PR / 10-K
Lowe's FY2025 sales
$86.3B
Year ended January 30, 2026. Comps +0.2%. Online 13% of retail sales. 1,759 stores.
LOW 10-K
TJX FY2026 sales
$60.4B
Year ended January 31, 2026. +7%. Comps +5%. Marmaxx $36.6B. 5,214 stores.
TJX PR
Ross FY2025 sales
$22.8B
Year ended January 31, 2026. +8%. Comps +5%. 1,904 Ross stores and 363 dd's DISCOUNTS.
ROST 8-K
Carvana 2025 units
596,641
Retail units, +43%. Revenue $20.3B, +49%. Not a parts-store print.
CVNA letter
O'Reilly DIY / pro mix
50 / 50
2025 sales split. AutoZone domestic commercial was 31.7% of domestic sales.
ORLY 10-K / AZO 10-K
Ulta FY2025 sales
$12.4B
+9.7%. Comps +5.4%. 1,505 US stores plus 86 company-operated international doors.
ULTA 8-K
eBay 2025 GMV
~$80B
Company phrase. Net revenues $11.1B, +8%. A marketplace take-rate story.
EBAY 8-K
Roster revenue, latest year
Last reported fiscal year in USD. Home Depot is $164.7B. Hasbro is $4.7B. These are not TAM figures.
Four theses on one page
Home improvement is the largest pile because Home Depot is $164.7B. Specialty is six different businesses. Off-price and auto are similar in dollars and nothing alike in economics.
The roster
Fourteen public companies. Walmart, Costco, Target, and dollar stores stay on Consumer Staples. Fashion houses stay on Apparel.
| Company | Ticker | Archetype | HQ | Latest year | What to watch |
|---|---|---|---|---|---|
| Home Depot | HD | Home improvement | Atlanta, US | FY2025 | Comps vs SRS/GMS mix |
| Lowe's | LOW | Home improvement | Mooresville, US | FY2025 | FBM/ADG wrap vs store comps |
| TJX | TJX | Off-price | Framingham, US | FY2026 | Marmaxx vs HomeGoods |
| Ross Stores | ROST | Off-price | Dublin, US | FY2025 | Comps and tariff cost |
| AutoZone | AZO | Auto parts | Memphis, US | FY2025 | Domestic commercial mix |
| O'Reilly | ORLY | Auto parts | Springfield, US | CY2025 | 50/50 DIY vs professional |
| Carvana | CVNA | Auto retail | Tempe, US | CY2025 | Retail units, not parts comps |
| Genuine Parts | GPC | Auto / industrial dist. | Atlanta, US | CY2025 | NA Auto vs Industrial; GAAP vs adj. |
| Best Buy | BBY | Specialty CE | Richfield, US | FY2026 | Domestic online mix, flat revenue |
| Ulta Beauty | ULTA | Specialty beauty | Bolingbrook, US | FY2025 | Comps vs new stores and Space NK |
| Tractor Supply | TSCO | Specialty rural | Brentwood, US | FY2025 | New stores vs +1.2% comps |
| Williams-Sonoma | WSM | Specialty home | San Francisco, US | FY2025 | Pottery Barn vs West Elm |
| eBay | EBAY | Marketplace | San Jose, US | CY2025 | GMV vs take rate |
| Hasbro | HAS | Toys / IP | Pawtucket, US | FY2025 | Wizards vs Consumer Products |
