Inventory Turnover › By Retailer
Inventory Turnover by Retailer: 25 US Chains Ranked
How many times a year each of 25 large US retailers sells through its inventory, calculated from cost of sales and balance-sheet inventory in its latest annual 10-K on SEC EDGAR. Every retailer links to a case study with its multi-year history and the reasons behind its number.
16.3x
Fastest: Kroger
4.5x
Median of 25 retailers
1.4x
Slowest: AutoZone
12×
Gap between fastest and slowest
All 25 retailers, latest 10-K
Click a column heading to sort. Days on hand = 365 / turnover.
| Days on hand | ||||
|---|---|---|---|---|
| KrogerKR | Supermarket | 16.3x | FY2025 (Jan 2026) | 22 |
| CostcoCOST | Warehouse club | 13.0x | FY2025 (Aug 2025) | 28 |
| BJ's Wholesale ClubBJ | Warehouse club | 11.4x | FY2025 (Jan 2026) | 32 |
| ChewyCHWY | Online pet retail | 10.4x | FY2025 (Feb 2026) | 35 |
| AmazonAMZN | Online marketplace | 9.8x | FY2025 (Dec 2025) | 37 |
| WalmartWMT | Supercenter | 9.3x | FY2026 (Jan 2026) | 39 |
| Ross StoresROST | Off-price | 6.5x | FY2025 (Jan 2026) | 56 |
| Best BuyBBY | Electronics | 6.3x | FY2026 (Jan 2026) | 58 |
| TJX CompaniesTJX | Off-price | 6.1x | FY2026 (Jan 2026) | 60 |
| TargetTGT | General merchandise | 6.0x | FY2025 (Jan 2026) | 61 |
| Dollar TreeDLTR | Dollar store | 4.8x | FY2025 (Jan 2026) | 76 |
| Home DepotHD | Home improvement | 4.5x | FY2025 (Feb 2026) | 81 |
| Dollar GeneralDG | Dollar store | 4.5x | FY2025 (Jan 2026) | 81 |
| Gap Inc.GAP | Apparel | 4.3x | FY2025 (Jan 2026) | 86 |
| Five BelowFIVE | Discount variety | 4.0x | FY2025 (Jan 2026) | 90 |
| Ulta BeautyULTA | Specialty beauty | 3.6x | FY2025 (Jan 2026) | 101 |
| NikeNKE | Footwear brand | 3.5x | FY2026 (May 2026) | 103 |
| Lowe'sLOW | Home improvement | 3.3x | FY2025 (Jan 2026) | 111 |
| Tractor SupplyTSCO | Rural lifestyle | 3.3x | FY2025 (Dec 2025) | 110 |
| LululemonLULU | Premium apparel | 3.1x | FY2025 (Feb 2026) | 119 |
| Macy'sM | Department store | 3.0x | FY2025 (Jan 2026) | 120 |
| Williams-SonomaWSM | Home furnishings | 3.0x | FY2025 (Feb 2026) | 121 |
| Dick's Sporting GoodsDKS | Sporting goods | 2.8x | FY2025 (Jan 2026) | 131 |
| O'Reilly AutomotiveORLY | Auto parts | 1.6x | FY2025 (Dec 2025) | 230 |
| AutoZoneAZO | Auto parts | 1.4x | FY2025 (Aug 2025) | 268 |
Turnover = cost of sales / average inventory (mean of opening and closing balance-sheet inventory) for the latest fiscal year each company has filed. Fiscal-year names follow each company's own convention: TJX, Walmart and Best Buy name the year after the January it ends in, most others after the calendar year it mostly covers. Retailers that include buying and occupancy costs in cost of sales (TJX, Ross, Ulta, Williams-Sonoma and others) show a slightly higher ratio than a merchandise-only measure would. Verified against SEC EDGAR XBRL filings; see the methodology.
Format decides the number
The ranking falls into six clear bands. Retailers in the same band sell similar goods in similar ways; the gaps between bands come from what is sold and how often customers rebuy it, not from how well each chain is run.
11x to 16x
Groceries and warehouse clubs
Kroger, Costco, BJ's
Food and household staples sell within days and are rebought on a fixed rhythm. Clubs add a narrow assortment sold in bulk packs.
9x to 10x
Mass merchants and online
Chewy, Amazon, Walmart
A large grocery or consumables share, national distribution networks and, online, pooled inventory in a few fulfilment centres instead of every store.
6x to 6.5x
Off-price, electronics, general merchandise
Ross, Best Buy, TJX, Target
Off-price chains buy close to need and sell lots through; Best Buy and Target mix fast staples or fast-depreciating tech with slower discretionary goods.
4x to 5x
Dollar stores, home improvement, value apparel
Dollar Tree, Home Depot, Dollar General, Gap, Five Below
Small boxes stocked deep for infrequent deliveries, or big boxes carrying tens of thousands of project SKUs.
2.8x to 3.6x
Specialty and department stores
Ulta, Nike, Lowe's, Tractor Supply, Lululemon, Macy's, Williams-Sonoma, Dick's
Full size and colour runs, seasonal lines and high-margin discretionary goods. Each unit earns more, so slower turns still pay.
1.4x to 1.6x
Auto parts
O'Reilly, AutoZone
Parts for decades of vehicle models held close to the customer, because a driver who needs a part needs it today. Gross margins above 50% fund the inventory.
How to use these benchmarks
Compare your own turnover with retailers in your band, not with the overall median. A specialty apparel store turning 3.5x is doing as well as Lululemon; the same 3.5x at a grocer would mean food sitting on shelves for over 100 days. The turnover calculator places your ratio in your sector's range and names the nearest retailer here.
Watch the direction as well as the level. Most case studies show three to five years, and the moves tell a story: Target and Nike fell sharply in their 2022 inventory gluts and recovered as they cleared stock; Ulta has eased gently as new stores, a wider range and the Space NK acquisition added inventory ahead of sales. A falling ratio with rising sales is usually investment. A falling ratio with flat sales is the one to worry about.
Turnover alone does not measure profit. Auto-parts retailers turn under 2x yet keep more than half of every sales dollar as gross profit (O'Reilly 51.6% in fiscal 2025), so each slow-moving part still pays its way. Pair turnover with gross margin using GMROI to see how much margin each dollar of inventory earns.
Frequently asked questions
Which US retailer has the highest inventory turnover?
Of the 25 retailers covered here, Kroger has the highest inventory turnover at 16.3x in its latest 10-K, followed by Costco at 13.0x and BJ's Wholesale Club at 11.4x. Grocery and warehouse-club formats lead because food and household staples sell within days.
Which retailer has the lowest inventory turnover?
AutoZone is the slowest at 1.4x, with O'Reilly Automotive close behind at 1.6x. Auto-parts retailers deliberately hold parts for decades of vehicle models close to the customer, and gross margins above 50% pay for that inventory. Low turnover in auto parts is a business model, not a sign of poor management.
What is a typical inventory turnover for a large US retailer?
The median of the 25 retailers here is 4.5x, about 81 days of inventory on hand. But the spread runs from 1.4x to 16.3x, so the useful comparison is always with retailers of the same format: compare a grocer with Kroger and Costco, an apparel chain with Gap and Lululemon.
How is inventory turnover calculated for these retailers?
Cost of sales for the fiscal year divided by average inventory, where average inventory is the mean of the opening and closing balance-sheet inventory. Both figures come from each company's latest annual 10-K on SEC EDGAR. Some retailers include buying and occupancy costs in cost of sales, which lifts their ratio slightly; each case study states what its retailer includes.