In 2020 Best Buy had to make large adjustments due to lock downs as they were required to close down stores and require customers to either shop online or use curbside pick up to retrieve their items. However, Best Buy also received a boost in sales during the pandemic as more and more people were pushed to do remote work and therefore had to purchase equipment such as laptops and monitors in order to work at home.
Best Buy's revenue has been relatively flat over the past decade. In 2011 the company brought in $50 billion in revenue and over the following 8 years revenue hovered around $40 billion. The management of Best Buy has been working consistently to improve the customer experience both in stores and online in order to compete with online retailers such as Amazon.
The highs and lows of Best Buy's revenue and income are:
Revenue: 2011 = $50 billion
Income: 2020 = $2 billion
Revenue: 2015 = $39 billion
Income: 2013 = $700 million
Dick's Sporting Goods
The income and revenue of Dick's Sporting Goods has been growing steadily over the past 10 years. The company has been one of few retailers who have been able to consistently increase their revenue even as more and more people turn to online shopping for what they need. The company was also able to report higher revenue in 2020 despite having to close down numerous stores due to the pandemic.
In 2011 Dick's Sporting Goods brought in revenue of $5.2 billion and in 2020 they brought in revenue of $9.5 billion. Their net profit however, has been rather flat over the time period as their profit margins have gone down over the past 10 years. The company has averaged around a $300 million net profit over the past decade.
The highs and lows of Dick's Sporting Goods Income and Revenue are:
Revenue: 2020 = $9.5 billion
Income: 2020 = $500 million
Revenue: 2011 = $5.2 billion
Income: 2011 = $253 million
Gap Inc. had a substantial fall in income and revenue in 2020 as a large number of their stores had to be closed down and malls where their stores are located attracted less traffic. However, even before the pandemic Gap Inc was having troubles due to consumers having much more options for clothings through different online retail stores and the number of consumers going to malls to do shopping has been decreasing. Gaps owns other large retail store brands such as Old Navy, Banana Republic, and Athleta, but their revenue has still been flat over the past 10 years.
Over the past decade the company's revenue has hovered around $15 - $16 billion and their net income has hovered around $1 billion per year. In 2020 however, the company reported their first loss in a decade, losing $800 million.
The highs and lows of Gap Inc's Income & Revenue are:
Revenue: 2018 = $16.5 billion
Income: 2014 = $1.2 billion
Revenue: 2020 = $13.8 billion
Income: 2020 = - $800 million (loss)
L Brands consists mainly of Bath & Body Works and Victoria's Secret. The company's revenue has been somewhat flat over the past decade. In 2011 the company brought in revenue of $10.3 billion and in 2020 they brought in revenue of $11.8 billion. The majority of their Victoria's Secret stores are located in malls and as the pandemic required most malls to either close or limit capacity this had a very negative impact on L Brand's income and revenue.
The company's net profit has been slowly declining over recent years as they've gone from net income of $1.1 billion in 2016 to $800 million in 2020. The company also reported a $400 million loss in 2019.
The highs and lows of L Brands Income and Revenue are:
Revenue: 2018 = $13.2 billion
Income: 2015 = $1.2 billion
Revenue: 2011 = $10.3 billion
Income: 2019 = - $400 million (loss)