• DALLAS 

In his latest communication to “Team Exchange,” Tom Shull, director and chief executive officer (CEO) of the Army & Air Force Exchange Service (AAFES), charts the dramatic rise of the Exchange as one of the country’s top retailers. 

“According to the National Retail Federation’s (NRF) annual list of the best-performing retailers, which was released last week, the Exchange is now the 51st-largest retailer in the United States, outperforming major civilian retailers such as PetSmart, Williams-Sonoma and Lululemon. 

“This is a notch above last year’s ranking, and it could not have happened without your dedication to serving those who serve and have served.  

“Service members, retirees and their families enjoy the Exchange’s tax-free shopping benefit, but it’s your commitment to the best customers in the world that makes them return to PXs, BXs, Expresses and ShopMyExchange.com. 

“The list was compiled by market research company Kantar, which tracks more than 1,000 retailers with sales in excess of $2 billion annually. 

“Another military retailer, the Defense Commissary Agency (DeCA), also moved up, from No. 87 to 86.  

The Exchange and DeCA’s growth demonstrate military resale’s relevancy to the heroes we are privileged to serve. 

“It is truly an honor to serve as your teammate. 

Onward and Upward! 

Very best, 

Tom Shull” 

The full list can be accessed at https://nrf.com/research-insights/top-retailers/top-100-retailers/top-100-retailers-2025-list. 

Source: AAFES 

Edited by Larry Lapka