Shoppers Drug Mart narrowly edged out Lululemon as Canada’s largest retail brand in the latest survey from research firm Interbrand.

In all, three Canadian retailers -- Shoppers, Lululemon and Canadian Tire -- made Interbrand’s list of the top 50 North American retail brands.

The winner, once again, was Walmart. At $131.8 billion, it’s the world’s most valuable retail brand.

Story continues below

Loading Slideshow...
  • 38: Canadian Tire

    Brand value: $1.76 billion (down 3%) Source: Interbrand 2014 rankings

  • 29: Lululemon

    Brand value: $3.08 billion (down 13%) Source: Interbrand 2014 rankings

  • 28: Shoppers Drug Mart

    Brand value: $3.11 billion (down 5%) Source: Interbrand 2014 rankings

  • 10: Publix

    Brand value: $10.1 billion (up 2%) Source: Interbrand 2014 rankings

  • 9: Coach

    Brand value: $11.6 billion (down 21%) Source: Interbrand 2014 rankings

  • 8: eBay

    Brand value: $13.1 billion (up 20%) Source: Interbrand 2014 rankings

  • 7: Sam's Club

    Brand value: $13.5 billion (flat) Source: Interbrand 2014 rankings

  • 6: Walgreens

    Brand value: $15.5 billion (up 8%) Source: Interbrand 2014 rankings

  • 5: CVS

    Brand value: $17.8 billion (up 12%) Source: Interbrand 2014 rankings

  • 4: Amazon

    Brand value: $23.6 billion (up 27%) Source: Interbrand 2014 rankings

  • 3: Home Depot

    Brand value: $25.7 billion (up 12%) Source: Interbrand 2014 rankings

  • 2: Target

    Brand value: $27.1 billion (up 8%) Source: Interbrand 2014 rankings

  • 1: Walmart

    Brand value: $131.8 billion (down 6%) Source: Interbrand 2014 rankings

Interbrand estimates the Shoppers name is worth about $3.1 billion -- down five per cent from last year’s survey. Loblaws bought Shoppers last year for $12.4 billion, though of course that includes the pharmacy chain’s physical assets, and not just the brand.

All three of the ranking Canadian retailers saw the value of their brands decline in the past year, evidently the result of the tough competition in Canada’s market since the arrival of Target and other U.S. retailers.

With Lululemon there were other problems -- namely, last year's controversy over too-sheer yoga pants. The fashion retailer “suffered a year of turmoil. A much publicized product recall and attempted correction caused supply chain delays, late inventory, and quality complaints,” Interbrand says.

Lululemon saw its brand value decline 13 per cent over the past year, to just more than $3 billion, by Interbrand’s estimate.

Related on HuffPost: