Wal-Mart Stores, Inc. history, profile and history video
Wal-Mart Stores, Inc. operates retail stores in various formats around the world. It operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes the company’s mass merchant concept in the U.S., operating under the Walmart or Wal-Mart brand, as well as walmart.com. and also offers financial services and related products, including money orders, prepaid cards, wire transfers, check cashing and bill payment. The Walmart International segment includes numerous formats of retail stores, restaurants, wholesale clubs, including Sam’s Clubs, and various retail websites that operate outside the U.S. This segment operates units in three major categories: retail, wholesale and other which consists of numerous formats, including discount stores, supermarkets, supercenters, hypermarkets, retail websites, warehouse clubs, restaurants and apparel stores. The Sam’s Club segment includes the warehouse membership clubs in the U.S., as well as samsclub.com. and also offers brand name merchandise, which include hard goods, some soft goods and selected private-label items and brands in five merchandise categories namely grocery and consumables, fuel and other categories, technology, office and entertainment, home and apparel and health and wellness. The company was founded by Samuel Moore Walton and James Lawrence Walton on July 2, 1962 and is headquartered in Bentonville, AR.“
“Wal-Mart Stores History
Since the first Walmart store opened in 1962 in Rogers, Arkansas, we’ve been dedicated to making a difference in the lives of our customers. Our business is the result of Sam Walton’s visionary leadership, along with generations of associates focused on helping customers and communities save money and live better.
This rich heritage defines who we are and what we do today.
Experience Walmart’s History
Walmart’s history is more than just the stores we’ve built, the partnerships we’ve made and the customers we’ve served. So much of our history is in the details. See how Walmart began, how we grew and how our leadership has changed the retail industry.
1960s
Retail Revolution
Sam Walton’s strategy was built on an unshakeable foundation: The Lowest Prices Anytime, Anywhere.
1962
On July 2, 1962, Sam Walton opened the first Walmart store in Rogers, Ark.
1967
The Walton family owned 24 stores, ringing up $12.7 million in sales.
1969
The company officially incorporated as Wal-Mart Stores, Inc.
1970s
Walmart Goes National
In the 1970s, a decade of incredible growth, “Mr. Sam” began to take Walmart national, proving his vision’s widespread appeal.
1970
Walmart became a publicly traded company. The first stock was sold at $16.50 per share.
1971
The first distribution center and Home Office opened in Bentonville, Ark.
1972
Walmart was listed on the New York Stock Exchange (WMT).
With 51 stores, Walmart recorded sales of $78 million.
1975
Inspired by a visit to a Korean manufacturing facility, Sam Walton introduced the Walmart cheer.
1979
The Walmart Foundation was established.
1980s
Decade of Firsts
In the 1980s, the first Sam’s Club opened, serving small businesses and individuals, and the first Walmart Supercenter opened, combining a supermarket with general merchandise.
1980
Walmart reached $1 billion in annual sales, faster than any other company at that time.
Walmart had 276 stores and employed 21,000 associates.
1983
The first Sam’s Club opened in Midwest City, Okla.
Walmart replaced cash registers with computerized point-of-sale systems, enabling fast and accurate checkout.
1984
Sam Walton did the hula on Wall Street, making good on a promise to associates after the company achieved a pre-tax profit of 8% for the previous fiscal year.
1987
The company installed the largest private satellite communication system in the U.S., linking the company’s operations through voice, data and video communication.
1988
The first Walmart Supercenter opened in Washington, Mo., combining general merchandise and a full-scale supermarket to provide one-stop shopping convenience.
David Glass was named CEO.
1990s
By 1990, Walmart was the nation’s number-one retailer. As the Walmart Supercenter redefined convenience and one-stop shopping, Every Day Low Prices went international.
Through a joint venture with Cifra, a Mexican retail company, Walmart went global, opening a Sam’s Club in Mexico City.
1992
While receiving the Medal of Freedom, Sam Walton articulated the company’s mission of saving people money so they can live better, shortly before passing away at age 74.
Rob Walton became chairman of the board.
Walmart employed 371,000 associates in 1,928 stores and clubs.
1993
Walmart celebrated its first $1 billion sales week.
1994
Walmart expanded into Canada with the purchase of 122 Woolco stores.
1996
Walmart opened its first stores in China.
1997
The company celebrated its first $100 billion sales year.
1998
The Neighborhood Market format was introduced with three stores in Arkansas.
1999
Walmart entered the United Kingdom with the acquisition of ASDA.
2000s
New Millennium
Walmart entered the new millennium dedicated to offering customers a seamless shopping experience, whether they are online, in a store or on a mobile device.
2000
H. Lee Scott, Jr. succeeded David Glass as CEO.
Walmart.com was founded, allowing U.S. customers to shop online.
Walmart employed more than 1.1 million associates in 3,989 stores and clubs worldwide.
2002
For the first time, Walmart topped the Fortune 500 ranking of America’s largest companies.
Walmart entered the Japanese market through its investment in Seiyu.
2005
Walmart took a leading role in disaster relief, contributing $18 million and 2,450 truckloads of supplies to victims of hurricanes Katrina and Rita.
2006
Walmart introduced its $4 generic-drug prescription program.
2007
Walmart.com launched Site to Store service, enabling customers to make a purchase online and pick up merchandise in stores.
2009
Mike Duke became CEO.
Walmart entered Chile with the acquisition of a majority stake in D&S S.A.
For the first time, Walmart exceeded $400 billion in annual sales.
2010
Bharti Walmart, a joint venture, opened its first store in India.
Walmart committed $2 billion through the end of 2015 to help end hunger in the United States.
Walmart launched a global commitment to sustainable agriculture, aiming to strengthen local farmers and economies, while providing customers access to affordable, high-quality food.
2011
With the acquisition of MassMart in South Africa, Walmart surpassed 10,000 retail units around the world.
The first Walmart Express stores were introduced in Arkansas.
Walmart established @walmartlabs, a hub for developing social, mobile and global platforms.
2012
Walmart celebrated 50 years of helping people save money so they can live better.
2014
Doug McMillon succeeded Mike Duke as CEO.
The company employs 2.2 million associates worldwide and serves more than 200 million customers each week at more than 11,000 stores in 27 countries.”
*Information from Forbes.com and Walmart.com
**Video published on YouTube by “WalmartCorporate“