What: Macy's tops the list of department stores ranked by sales over the trailing 12 months.

Why it is important: The ranking highlights the shift in the retail landscape, where department store sales have drastically decreased from 14 percent of total retail sales in 1993 to less than 3 percent today, underscoring the impact of consolidation, acquisitions, and the rise of competitors like Walmart and Amazon.

Macy's Inc. leads the ranking of department stores by sales for the trailing 12 months, with $23.7 billion in sales, according to data from S&P Capital IQ. Following Macy's, Arcandor AG, a German holding company formed from the merger of Karstadt Warenhaus AG and Quelle AG, ranks second with $22 billion in sales, and Kohl's comes in third with $17.5 billion. The significant decline in the share of department store sales from 14 percent of total retail sales in 1993 to less than 3 percent today reflects major changes in the retail sector, including consolidation, acquisitions, and intense competition from major retailers like Walmart and Amazon. Despite the challenges in the U.S. market, department stores are thriving globally, particularly in China and Asia, where smaller and more experiential formats are popular among urban shoppers.

Department stores ranked by sales