This Chinese Chain Beat Revenue Growth From Dick’s And Costco
A Chinese lifestyle brand claimed the top spot in the National Retail Federation’s ranking of the fastest-growing U.S. retailers, beating out retail giants Dick’s Sporting Goods and Costco, as several firms—including AT&T and Verizon—appeared for the first time.
The NRF ranked Miniso as its fastest-growing retailer after the Chinese firm posted roughly 53% sales growth in the U.S., totaling $466 million in domestic revenue, beating out Dick’s Sporting Goods, which ranked second with 49% sales growth after reporting a boost in revenue to $13.6 billion, up from $20.2 billion.
Miniso appeared on the list for the first time along with eight other retailers, including Dick’s, AT&T, Verizon, Casey’s General Store, Ulta Beauty, RH and J.Crew.
Miniso—which has risen in popularity because of viral blind boxes and partnerships with Minecraft and My Little Pony, among other brands—claimed the top spot thanks to success from affordable lifestyle products, an “emphasis on discovery-driven shopping experiences” and continued expansion in the U.S., according to the NRF.
Daiso Sangyo (25.8% growth), Primark (24.2%) and Five Below (22.9%) rounded out the top five, while Costco ranked 18th after posting 8% growth after adding $15.8 billion in sales.
$275.2 billion. That was Costco’s revenue for fiscal year 2025, most of which came from U.S. sales ($198.7 billion), ranking the retailer among the highest-grossing firms in the U.S. Costco still ranks far behind Walmart, which posted the second-highest annual revenue ($713.2 billion) behind Amazon ($716.9 billion) in their most recent fiscal years.
Miniso CEO Ye Guofu, who founded the retailer in 2013 and took the company public on the New York Stock Exchange in 2020, has an estimated net worth of $1.6 billion. Miniso once branded itself as Japan-inspired, though Ye and the firm apologized in 2022 for its marketing strategy and have since removed Japanese elements from its store and logo designs.
The NRF’s list, compiled annually by research firm Kantar, ranks retailers by annual domestic sales growth rather than total size. Kantar said this methodology allows firms to be viewed for their momentum rather than their market dominance, like Costco or Walmart, which have controlled a larger chunk of U.S. sales for years.