PARSIPPANY — Fortune Magazine announced its exclusive 500 list for the most recent fiscal year, and New Jersey proved its worth with 20 companies on the 2019 rankings. The Garden State had four companies listed in the top 100. You can see the full list here.
Parsippany had three companies in the top 500:
#113 PBF Energy, $27.186 billion. The supplier of transportation fuels owns and operates petroleum refineries in California, New Jersey, Delaware, Louisiana, and Ohio. 3,266 employees. 7 years in the top 500. Previous rank was 135. Located at One Sylvan Way.
#338 Avis Budget Group , $9.124 billion. The New Jersey-based rental car company that operates the Avis and Budget brands also owns car-sharing service Zipcar. 25,600 employees. 22 years in the top 500. Previous rank was 333. Located at Six Sylvan Way.
#487 Zoetis, $5.825 billion. Zoetis develops and manufactures animal health medicines and vaccines that aim to help veterinarians, as well as livestock farmers. 10,000 employees. 1 year in the top 500. Previous rank was 507. Located at Ten Sylvan Way.
Just 500 companies—the ones on this year’s Fortune 500 list, to be precise—produced enough revenue last year to equal two-thirds of the entire economic output of the United States. Think about that a minute: just 500 companies.
2018 was the year Walmart finally found its stride in its fight against Amazon. Equipping thousands of stores for grocery pickup helped Walmart increase its U.S. online sales 40%. Walmart was also deft in capitalizing on many rivals’ problems or demise (Toys ‘R’ Us to name just one), leading it to its best holiday season in years. The company is now innovating with things like a personal shopping service and self-driving delivery vans. Walmart’s success extended to its resurgent Sam’s Club business, as well as internationally, where it has decided to focus on a few key markets, all propelling company sales to 3% growth—and well past the $500 billion mark.