Wal-Mart Reclaims Top Spot on Fortune 500

July 13, 2007

The world's largest retailer Wal-Mart Stores, Inc. has reclaimed the top rank in the 2007 list of Fortune 500 from Exxon Mobil Corp, topping the list five times in the last six years.

The rankings are based on revenues earned during 2006.

Wal-Mart posted a more than 11 per cent increase in revenue to $351.1 billion and profits of $11.3 billion, closely followed by 2006 title-holder Exxon Mobil, which had $347.3 billion in revenue and the highest profit in history by a US company of $39.5 billion. Oil and automobile companies dominate the top 10.

Collectively, the Fortune 500 companies had profits of $785 billion in 2006, the highest since the list's inception in 1954 and marking a nearly 30-per cent jump over 2005.

According to Fortune various economic factors, including lower labor costs, a weakening US dollar and soaring productivity accounted for the record gains.

Apart from Wal-Mart, the rest of top ten are Exxon Mobil, Shell, British Petroleum, General Motors, Toyota, Chevron, Diamler-Crysler, Conocophillips and Total.