Growing numbers of consumers are choosing to do their shopping online, and many brick-and-mortar retailers are failing to adapt to the shifting retail landscape. Once retail giants RadioShack and Payless ShoeSource are among the most recent to file for bankruptcy, and many others are hurriedly closing unprofitable stores as foot traffic dwindles.

Some retailers, however, seem to have used the changing marketplace as an opportunity for growth. 24/7 Wall St. reviewed the world’s 25 fastest growing retailers with data from the National Retail Federation. The companies, from the NRF’s report on the 250 largest companies worldwide, are ranked on their retail revenue annual growth rate between 2010 and 2015.

Whether due to rapid e-commerce sales growth or large acquisitions — the two main forces driving the fastest growing retailers — these companies share the ability to adapt and grow in the quickly changing retail landscape.

Click here to see the world’s fastest growing retailers.

With an average retail revenue growth rate of 184.6% each year between 2010 and 2015, China-based Vipshop Holdings Limited is the fastest growing retailer in the world. Vipshop is a non-store clothing company, that is, all sales happen outside of a physical retail facility. There are three companies on this list that operate without any physical storefront.

Eight of the 25 fastest growing retailers worldwide are based in the United States, the most of any country. Following the United States are Russia and China with four and three retailers respectively.

Albertson’s Companies, Inc. was the fastest growing American retailer over the five-year period because of its acquisition of Safeway, which nearly tripled its size. Supermarket companies such as Albertson’s comprise the three fastest growing U.S.-based retailers. A joint analysis by Food Marketing Institute and Nielsen estimates that 20% of grocery shopping in America will be online by 2025.

Revenue growth at these companies, however, does not necessarily imply greater profitability. Five companies reported a net profit margin of 1% or less in 2015, and two actually reported net losses during the year. Apple, Inc. had by far the largest profit margin of any retailer on this list, at 22.8% in 2015.

To determine the world’s fastest growing retailers, 24/7 Wall St. reviewed 2010-2015 retail revenue compound annual growth rates for companies listed in the National Retail Foundation’s “2017 Fastest 50 Growing Retailers” report. Fiscal-year 2015 retail revenue, country of origin, and dominant operational format also came from the NRF report.

These are the fastest growing retailers worldwide.

25. X5 Retail Group N.V.
> 5-yr. annual retail sales growth: 18.7%
> FY 2015 retail sales: $13.4 billion
> Country: Russia
> Category: Discount Store

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24. FEMSA Comercio, S.A. de C.V.
> 5-yr. annual retail sales growth: 19.4%
> FY 2015 retail sales: $9.6 billion
> Country: Mexico
> Category: Convenience/Forecourt Store

23. Central Group
> 5-yr. annual retail sales growth: 19.6%
> FY 2015 retail sales: $7.0 billion
> Country: Thailand
> Category: Department Store

22. Woolworths Holdings Limited
> 5-yr. annual retail sales growth: 20.5%
> FY 2015 retail sales: $4.5 billion
> Country: S. Africa
> Category: Department Store

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21. Amazon.com, Inc.
> 5-yr. annual retail sales growth: 20.8%
> FY 2015 retail sales: $79.3 billion
> Country: U.S.
> Category: Non-Store

20. Dollar Tree, Inc.
> 5-yr. annual retail sales growth: 21.4%
> FY 2015 retail sales: $15.5 billion
> Country: U.S.
> Category: Discount Store

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19. BİM Birleşik Mağazalar A.Ş.
> 5-yr. annual retail sales growth: 21.5%
> FY 2015 retail sales: $6.4 billion
> Country: Turkey
> Category: Discount Store

18. Ulta Salon, Cosmetics & Fragrance, Inc.
> 5-yr. annual retail sales growth: 22.1%
> FY 2015 retail sales: $3.7 billion
> Country: U.S.
> Category: Other Specialty

17. NIKE, Inc. / Direct to Consumer
> 5-yr. annual retail sales growth: 22.3%
> FY 2015 retail sales: $7.9 billion
> Country: U.S.
> Category: Apparel/Footwear Specialty

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16. PT Indomarco Prismatama (Indomaret)
> 5-yr. annual retail sales growth: 23.1%
> FY 2015 retail sales: $3.7 billion
> Country: Indonesia
> Category: Convenience/Forecourt Store

15. Apple Inc. / Apple Retail Stores
> 5-yr. annual retail sales growth: 23.4%
> FY 2015 retail sales: $28.0 billion
> Country: U.S.
> Category: Electronics Specialty

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14. CP ALL Plc.
> 5-yr. annual retail sales growth: 24.0%
> FY 2015 retail sales: $11.9 billion
> Country: Thailand
> Category: Convenience/Forecourt Store

13. Yonghui Superstores Co., Ltd.
> 5-yr. annual retail sales growth: 27.6%
> FY 2015 retail sales: $6.5 billion
> Country: China
> Category: Hypermarket/Supercenter/Superstore

12. PT Sumber Alfaria Trijaya Tbk (Alfamart)
> 5-yr. annual retail sales growth: 28.0%
> FY 2015 retail sales: $3.6 billion
> Country: Indonesia
> Category: Convenience/Forecourt Store

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11. Lenta Group
> 5-yr. annual retail sales growth: 29.0%
> FY 2015 retail sales: $4.2 billion
> Country: Russia
> Category: Hypermarket/Supercenter/Superstore

10. Grandvision N.V.
> 5-yr. annual retail sales growth: 29.1%
> FY 2015 retail sales: $3.6 billion
> Country: Netherlands
> Category: Other Specialty

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9. PJSC “Magnit”
> 5-yr. annual retail sales growth: 32.0%
> FY 2015 retail sales: $15.7 billion
> Country: Russia
> Category: Convenience/Forecourt Store

8. OJSC Dixy Group
> 5-yr. annual retail sales growth: 33.5%
> FY 2015 retail sales: $4.5 billion
> Country: Russia
> Category: Supermarket

7. Southeastern Grocers, LLC
> 5-yr. annual retail sales growth: 34.6%
> FY 2015 retail sales: $11.1 billion
> Country: U.S.
> Category: Supermarket

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6. Steinhoff International Holdings N.V.
> 5-yr. annual retail sales growth: 44.5%
> FY 2015 retail sales: $13.2 billion
> Country: S. Africa
> Category: Other Specialty

5. Sprouts Farmers Market, Inc.
> 5-yr. annual retail sales growth: 47.4%
> FY 2015 retail sales: $3.6 billion
> Country: U.S.
> Category: Supermarket

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4. Axel Johnson AB / Axfood, Axstores
> 5-yr. annual retail sales growth: 49.2%
> FY 2015 retail sales: $5.9 billion
> Country: Sweden
> Category: Hypermarket/Supercenter/Superstore

3. Albertsons Companies, Inc.
> 5-yr. annual retail sales growth: 74.1%
> FY 2015 retail sales: $58.7 billion
> Country: U.S.
> Category: Supermarket

2. JD.com, Inc
> 5-yr. annual retail sales growth: 81.3%
> FY 2015 retail sales: $27.0 billion
> Country: China
> Category: Non-Store

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1. Vipshop Holdings Limited
> 5-yr. annual retail sales growth: 184.6%
> FY 2015 retail sales: $6.1 billion
> Country: China
> Category: Non-store

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