WASHINGTON — Wal-Mart Stores, Target Corp. and Kroger Co. have been named to a list of “Investment Heroes” by the Progressive Policy Institute here.
The group, which advocates progressive policies, recognized the retailers in a report on non-financial U.S. companies ranked by their capital investment in the U.S. during the last year. This spending helped to create jobs and productivity amid an overall decline of private sector investment since 2008 recession, the group said.
Wal-Mart, with an estimated $8.2 billion investment in the U.S. during 2012, ranked sixth in the overall list, behind AT&T, Verizon, ExxonMobil, Chevron and Intel. Target was 25th overall. Kroger, with $2 billion in estimated U.S. capital expenditures during 2012, ranked 19th on a list of non-energy and non-financial companies.
The retail sector as a whole totaled $13.5 billion in spending, making it the fourth largest investment sector behind energy ($56.1 billion); telecom and cable ($50.5 billion); and technology ($14.4 billion).
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