These 6 Retailers Are Among America's Most Trusted—and Rising in the Ranks

Trust may be the one thing that is hardest for a business to earn from its customers. And in a crowded consumer landscape, trust may also be the asset that is most crucial to people when they're considering where to spend their money.

To help individuals identify which companies are most deserving of their confidence, Newsweek recently released its 2024 ranking of the Most Trustworthy Companies in America, featuring 700 organizations across 23 industries.

Of the companies on the list, which was released in collaboration with market research partner Statista, retailers represented the largest industry segment, with 66 retail companies listed. Many of these retailers also appeared on Newsweek's 2023 Most Trustworthy ranking, but only a few jumped up the ranking year-over-year to achieve a sizably better position in 2024.

The ranked companies, chosen based on the results of a survey of 25,000 U.S. residents, must have $500 million in revenue and be headquartered in the U.S. The survey examined trust from three perspectives: from consumers, possible investors and potential employees. Also, social media was examined to see what was being said about a company, and companies involved in scandals or lawsuits were excluded.

"Our study is a representative survey of residents in the USA. Therefore, we cannot say that the results are surprising or unexpected, as they reflect what the companies have been built up over a long period of time," Statista analyst Eike Röver told Newsweek via email. "Every company on this list is there because a large number of people trust them."

With retail being the most represented sector, we've decided to hone in on those companies and give an extra bit of recognition to the retailers that most improved their position compared to 2023's ranking.

It's worth starting with a company that placed in the top 10 this year despite not making the cut at all last year. That splashy debut belongs to Home Depot, which landed at No. 9 on this year's list after being totally absent from the 2023 list.

The Atlanta-based home improvement giant, which was founded in 1978, maintains more than 2,300 stores across North America and employs more than 475,000 people. Its website touts values like "taking care of our people," showing "respect for all people" and "'doing the right thing' instead of just 'doing things right.'"

From the point of view of potential employees, Home Depot's Homer Fund could be a big source of trust. Founded in 1999, the Homer Fund is a nonprofit that provides financial assistance to employees who are facing unforeseen financial hardships. On March 15, the company celebrated 25 years of the Homer Fund, which it says has awarded $267 million to more than 183,000 employees' families that have needed help with living expenses.

Another big-box superstore, Best Buy, made the biggest year-over-year, non-debut jump up the list, rising 29 spots from No. 61 last year to finish at No. 32 this year. The Minnesota-based consumer electronics behemoth has more than 1,000 stores in the U.S. and Canada and employs more than 90,000 people in the two countries.

Best Buy calls its e-waste recycling program, which has collected more than 2.7 billion pounds, the nation's largest. It is planning to build a network of 100 Teen Tech Centers by 2025, which it says are "after-school learning environments equipped with cutting-edge technology." And the company has made it a point to align its stance on human rights with the United Nations' Guiding Principles on Business and Human Rights, saying that it leverages its industry partners to improve material sourcing and working conditions in the global electronics supply chain.

Kitchenware and home furnishings retailer Williams-Sonoma jumped 24 spots from No. 46 last year to land at No. 22 on this year's ranking. As of January 2023, the company, which is based in San Francisco, had 530 stores worldwide and approximately 21,000 employees, according to Statista.

Williams-Sonoma says that 97 percent of the cotton in its products is responsibly sourced, which has led to nearly 100 million liters of water being saved via the use of organic cotton. Over 98 percent of the teak wood in its outdoor furniture is certified by the Forest Stewardship Council, which the company calls the "gold standard in responsible forest management."

Also, the company has helped raise $58 million in connection with its partnership with St. Jude Children's Research Hospital as well as raised $16 million to help fight childhood hunger via the national No Kid Hungry campaign.

Wisconsin-based home improvement retailer Menards jumped 19 spots year-over-year from No. 44 to land at No. 25 on the 2024 ranking. The company has more than 330 stores, located largely in the Midwest, and it employs more than 45,000 employees.

Menards was founded in 1958, a full 20 years before its larger home improvement competitor, Home Depot, and it is proud of its family ownership. (The Menards website describes the chain as "a family-owned and operated business" that treats customers "like family in a local, hometown hardware store atmosphere.")

John Menard Jr., the company's founder, remains its majority shareholder.

Climbing 16 spots year-over-year, Big 5 Sporting Goods finished at No. 42 this year, up from No. 58 last year. The California-based sports retailer has 424 locations spread across 11 western states.

Big 5 works at earning its customers' trust not just via the scope of its inventory (its stores average 12,000 sq. ft. each and feature athletic apparel and equipment for both recreational and team sports) but also by the way it engages with consumers. The lifestyle advice the company gives in the "Helpful Hints" section on its website is thorough: tips on how to get a good night's sleep, what to know before going fishing, how to train for a 5K, and basics for barbecuing safely are all on offer.

Shoe and "athleisure" apparel retailer Hibbett jumped 14 places to land at No. 41 after finishing at No. 55 last year. The Alabama-based company, which acquired the clothing and footwear chain City Gear in 2018 to officially become Hibbett | City Gear, now has more than 1,000 retail locations.

The company maintains community-focused programs like its Sole School initiative, a giveback program started by City Gear in 2015 through which stores provide support to underserved schools and athletic programs in their areas. In 2023, Hibbett and City Gear donated over $330,000 to more than 100 schools. The program also provided $320,000 in gift cards to meet team equipment needs.

For a look at the other retailers on our list, head over to Newsweek's latest ranking of the Most Trustworthy Companies in America.