UK retail tops worldwide growth list

UK retailers experienced the fastest growth rate among the world's 100 biggest retailers last year, according to latest data.

The average annual growth rate for UK retail businesses was 7 per cent between 2001 and 2002 - more than any other country.

Dixons made the biggest leap up the list - up nine places to number 68 - after sales grew by 18.8 per cent between 2001 and 2002. Kingfisher was joint third highest mover - after Do It Best Corp of the US - and rose seven places to 33.

Tesco, GUS and Morrisons were also among the top 10 climbers. With 11 retailers in the top 100, the UK comes second in the table after the US.

The figures, compiled by US market researchers Retail Forward, showed the fastest individual growth was at US discount department store Kohl's, with a 21.8 per cent rise in sales last year.