Walmart is an American retails company that is known for its chain of departmental stores that offers products at an economical rate. Its target audience is the middle class and lower
Founding Date: July 2nd, 1962
Company Name: Walmart
Country: Bentonville, Arkansas, USA
Company Website: www.walmart.com
middle class people. It has a number of grocery shops, discount departmental stores and hypermarkets across USA. It has its headquarters at Bentonville, Arkansas and has now opened its branches in various countries including Mexico, India, Japan and UK.
In the Beginning
The Walmart History dates back to the time when its founder Sam Walton was a businessman with a dream. He dreamt of selling higher number of products at a lower price. It was with this aim that he bought a branch of Ben Franklin store in 1945. The profit margin was of course low, given the low prices at which the goods were sold. However, his aim was to satisfy the buyer which in turn would benefit him.
In order to enhance the profits, he associated with suppliers who were ready to sell him goods for a low cost. The bargain paid off and he was presented with a profit of 45% in the very first year with revenue of $105,000. With every passing year the revenue increased. Finally, when the lease on the present store was over, he moved his store to a new location and named it Walton’s Five and Dime.
The Making of Walmart History
Sam Walton started the first Walmart Discount Store in Rogers, Arkansas in 1962. The store was an instant hit which led to the establishment of 24 more stores in Arkansas over the period of five years. By 1968, it had stores in Oklahoma, Missouri, Sikeston and Clare. On October 31st, 1969 the company was incorporated and renamed as Wal-Mart Inc. It established its headquarters in Bentonville, Arkansas.
The brand soon became a popular one amongst the Americans and the company soon got a listing in the New York Stock Exchange and started trading its stocks publicly. By this time, the company had started thinking of expanding its horizons and capture markets outside of Arkansas. Thus, it went on to open its stores in Tennessee, Texas, Mississippi and Kentucky. By this time, the company had grown manifolds from its inception.
In the year 1988, Walmart opened its first Walmart Super Center in Washington. However, the owner was just not happy by capturing the US markets. So, the company soon started tapping the overseas market. It succeeded everywhere it opened stores and has made a name for itself across the globe.
From Walmart History to Legend
Today Walmart has about 11,539 stores in 28 countries and operates under 63 banners. It operates under the name of Best Price in India, ASDA in UK, Seiyu in Japan and Walmart de México y Centroamérica in Mexico. It boasts of employing 2.2 million people with both part time and full time workers on its rolls. With subsidiaries and stores all over the world, the company’s annual revenue today is estimated at $482.13 billion which is surely a far cry from the initial revenue it garnered in 1962.