Grocery retailers have not performed well in a comparison of shareholder value creation over the past year, according to research from KPMG and Templeton College, Oxford.
The research, initial findings of which were released at the CIES World Food Business Summit this week, ranks each of the top 500 publicly quoted quoted retailers in the world by a measure called Value Creation Quotient.
This is the ratio of the return generated for every dollar invested in the company. A VCQ greater than one means the company has added shareholder value.
When taking these measures into account Japan's 7-Eleven is the only grocery retailer to make it into the global top 10 of retailers with a VCQ of 7. This compares to the world's most successful retailer, eBay, which has a VCQ of 12.3. The internet auction retailer has converted a capital investment of $1.5bn into $18.4bn of market value.
Tesco is at 72 out of 500 with a VCQ of 3. Wal-Mart is in 28th place and Ahold 256.