The U.S. grocery store industry, with annual sales approaching $820 billion, is extremely competitive. Supermarkets account for two-thirds of industry stores, and claim most of the industry’s revenues. Because of the industry’s fragmented nature, however, the top five supermarket chains account for less than 25 percent of total industry revenues. For purposes of this report, “supermarket” may be defined as any conventional, combination, superstore or warehouse facility with over $2.5 million in annual sales. “Hypermarts”, like Walmart and Target, are a recent evolution in the supermarket vein.