NRF: Global value chain is fastest-growing U.S. retailer

A rapidly expanding China-based value retailer tops a new list of the 25 U.S. retailers with the biggest increases in year-over-year domestic sales.  

Miniso tops the National Retail Federation’s “2026 Hot 25 Retailers” list compiled by Kantar. The annual study ranks the fastest-growing retailers in the U.S. based on sales growth between 2024 and 2025.  

Miniso, which did not appear on the 2025 Hot 25 Retailers List, achieved 52.62% growth in U.S. sales from 2024 to 2025. The retailer has been partnering with partnering with Nest, a national provider of integrated facilities management solutions, to deliver a consistent store experience across its expanding network of more than U.S. locations. 

[READ MORE: Miniso partners to improve store operations]

Rounding out the top five are Dick’s Sporting Goods at No. 2 with 48.5% sales growth, Daiso Sangyo (25.82%), Primark (24.24%) and Five Below (22.9%). Dick’s also did not make the 2025 list, while Daiso Sangyo jumped 10 spots from No. 13 and Five Below rose 10 spots from No. 15.

“It’s an eclectic list,” said Mark Mathews, NRF’s chief economist and executive director of research. “Including everything from Five Below to RH (Restoration Hardware), it speaks to the ever-changing interests of today’s consumers, as well as the diversity of the U.S. population. The main takeaway for me is that you can do well, irrespective of this economic environment, if you have a product and approach that appeals to the consumer.”