PlanetRetail: Wal-Mart to hit $582 billion by 2014

New York City Wal-Mart Stores tops a ranking of the top global grocery retailers, followed by Carrefour, Metro Group Tesco and Aeon. The report, by PlanetRetail, ranks retailers according to annual sales.

PlanetRetail expects Wal-Mart to add nearly $160 billion in sales during the next five years, for an annual total of $582.79, and to enter Russia and Turkey. Long-term, it does not rule out the giant discounter entering such untapped English-speaking countries as South Africa and Australia.

Planet Retail also sees big things in store for Tesco. It predicts the chain will expand its business by 50% to reach $146 billion by 2014, with grown driven primarily through expansion in such international markets as India, China and the United States. 

For more, go to planetretail.net.