crease sales. For other retailers, the escalating costs of doing business, competition from global online retailers, changing consumer spending habits, business restructuring and crime are all making an impact on the bottom line. Illustrating the pressure that global e-tailers are exerting on the sales and profit margins of local retailers are the FY25 revenues of Amazon, at $7.7 billion, Temu, at $2.6 billion, and Shein, at around $1 billion. Also, changing consumer purchasing behaviour is gradually eroding the sales and earnings of liquor and fast-food retailers in the short term – at least while demographics continue to challenge department stores. Despite three cuts in interest rates by the Reserve Bank in 2025, consumer spending remains subdued and heavily focused on promotional events and deep discounts. The Inside Retail rankings of Australia’s largest retailers, measured by revenue, indicates many are feeling the pinch but the extent of sluggish consumer spending has also shown a 0.4 per cent decrease in retail businesses in FY25. This is the first time in more than a decade of publishing the Top 25 retailers that they have reported a fall in earnings in the latest financial year. The headline profit falls include Woolworths, Myer, Big W, Endeavour Group, Super Retail Group, Mitre 10, Coles Liquor, Reece, Domino’s Pizza, Collins Foods, 7-Eleven, KMD, Officeworks and KMD Brands. Some of the retailers who are just outside the Top 25 also had earnings tumble in FY23, including Accent Group, and David Jones, while Solomon Lew’s Premier Retail banked a profit offloading his underperforming apparel brands to Myer. The positive earnings growth retailers included JB Hi-Fi, Kmart, Costco, Aldi, Harvey Norman, Coles, Chemist Warehouse and Bunnings. While profits have been squeezed in tight retail conditions through Covid and the subsequent hangover years, Australia’s leading retailers have achieved substantial sales growth since FY20. Woolworths, the nation’s biggest retailer, has added $10 billion in sales from its Australia and New Zealand supermarkets in the past six years to post annual sales of $59 billion for FY25. In the same six-year period, Coles supermarket increased its annual revenue by almost $9 billion for a FY25 turnover of $40 billion. Ranked third in the Inside Retail Top 25 listings, Bunnings Warehouse, bolstered by several acquisitions, has boosted its annual sales by $6 billion, with revenue now close to $20 billion. Chemist Warehouse, the ‘Bunnings’ of the pharmacy category, has reported sales of $10 billion for FY25, more than double the sales it generated in 2020. Kmart/Target, now ranked the sixth-largest retailer by sales, has captured an additional $3 billion in the past six years, for a total of more than $11 billion in the very competitive discount department store category. Boosted by the acquisitions of the Good Guys and E&S Trading, JB Hi-Fi is now ranked seventh in the Inside Retail Top 25 listings, ahead of its main rival, 10th placed Harvey Norman. JB Hi-Fi has added more than $3 billion in sales in the past six years, while Harvey Norman has added almost $2 billion in the same period. JB Hi-Fi’s FY25 sales topped $19.6 billion while Harvey Norman had sales of $9.3 billion. None of Australia’s pureplay online retailers reached the $2 billion mark to join the Inside Retail Top 25 rankings. Closest to the mark was Kogan.com, with sales of $939 million after a 15 percent lift in revenues from FY24 to FY25. Temple & Webster and The Iconic join Ikea, David Jones, Cettire, Mecca, TK Maxx, Guzman Y Gomez, Accent Group, Lovisa, Uniqlo, Nick Scali and the Ritchies and Drakes supermarket chains as retailers with positive growth trajectories. The 2025 rankings include just four foreign-owned retailers: the German discount supermarket retailer Aldi and the American membership retailer Costco, along with McDonald’s and the Apple corporate stores. Four supermarket chains – Woolworths, Coles, Aldi and Costco – have dominant positions in the rankings, while the pharmacy category has three entries – Chemist Warehouse, Wesfarmers Priceline Pharmacy, and Terry White Chemists. Retailers with franchisees on the list are Harvey Norman, Domino’s Pizza, McDonald’s and Hungry Jack’s. Australian-owned retailers in the Top 25 rankings that have retail networks outside the home market and New Zealand are Harvey Norman, Chemist Warehouse, Domino’s Pizza, Reece and Cotton On. Two corporate giants account for a substantial slice of the sales in the Top 25 rankings, Woolworths, with its supermarkets and Big W and Petstock chains, and Wesfarmers, with Bunnings Warehouse, Kmart/Target, Officeworks and Priceline Pharmacy. Woolworths total sales from its three chains were $64.65 billion for FY25, while Wesfarmers’ total revenue for that year topped $40.3 billion. Australia’s Top 25 Retailers 2025: Woolworths Food – 2025: $59.01b, 2024: $58.37b​ Coles Food – 2025: $40.00b, 2024: $39.04b​ Bunnings Warehouse – 2025: $19.56b, 2024: $18.94b​ Aldi (Australia) – 2025: $12.10b, 2024: $11.80b​ Apple Stores – 2025: $11.45b, 2024: $11.22b​ Kmart Group – 2025: $11.34b, 2024: $10.97b​ JB HiFi Group – 2025: $10.60b, 2024: $9.60b​ Chemist Warehouse – 2025: $10.30b, 2024: $9.39b​ Endeavour Drinks – 2025: $9.95b, 2024: $10.25b​ Harvey Norman – 2025: $9.35b, 2024: $8.86b​ Reece – 2025: $9.00b, 2024: $8.90b​ Priceline Pharmacy – 2025: $5.39b, 2024: $5.62b​ Big W / Petstock – 2025: $5.64b, 2024: $5.22b​ Costco Australia – 2025: $5.00b, 2024: $4.80b​ Domino’s Pizza – 2025: $4.51b, 2024: $4.35b​ Supercheap Retail Group – 2025: $4.07b, 2024: $3.90b​ Myer Holdings – 2025: $3.67b, 2024: $3.65b​ Coles Liquor – 2025: $3.66b, 2024: $3.49b​ Mitre 10 – 2025: $3.56b, 2024: $3.48b​ Officeworks – 2025: $3.54b, 2024: $3.42b​ Spotlight Group – 2025: $3.60b, 2024: $2.98b​ McDonald’s Australia – 2025: $3.05b, 2024: $2.98b​ TerryWhite Chemmart – 2025: $3.00b, 2024: $2.90b​ Hungry Jack’s – 2025: $2.54b, 2024: $2.24b​ Cotton On Group – 2025: $2.28b, 2024: $2.12b The Inside Retail Top 25 retailers is compiled from published financial reports, interviews, credible media stories and information supplied by IbisWorld, the leading economic advisory firm.