As a thriving behemoth in global retail, Walmart’s history is marked by unparalleled growth fueled by innovative business practices. Founder Sam Walton opened his first store in Rogers, Arkansas, in 1962 under the brand name of Wal-Mart Discount City, which now operates as a museum and tourist attraction called 5 & 10. His strategy revolved around selling low-cost goods at lower prices than competitors to attract higher demand and sales volume despite smaller profit margins. By the end of that year, two stores were operating under this brand name in Arkansas alone.
The company’s expansion continued throughout the ’60s, with 24 Walmart stores open across the state by 1967. The first store outside Arkansas opened in Claremore, Oklahoma, followed a year later by another location in Sikeston, Missouri. Incorporated as Wal-Mart Stores, Inc., and listed on the New York Stock Exchange by 1969 and 1980 respectively, this major corporation generated annual sales worth $1 billion from its 276 stores across ten states at that time.
In addition to acquiring regional department store chains in the ’80s like Kuhn’s Big K, Walmart operated over a thousand retail outlets spanning twenty-seven U.S. States by decade’s end. By now employing 21,000 individuals and raking in $26 billion yearly revenues worldwide through its subsidiaries such as Sam’s Club (opened in Oklahoma), Walmart was well on track to become a household name.
In the wake of his passing from multiple myeloma at age 74, Rob Walton succeeded his father as chairman until 2015. The company has since grown into an international giant with over ten thousand stores across nineteen countries and more than two million employees worldwide (over one point six million in America alone). It currently holds the title of largest retailer both domestically and globally, having sustained unprecedented levels of growth throughout the ’90s.
Walmart has also undertaken community outreach initiatives such as a mass vaccination campaign during the COVID-19 pandemic and an educational program that covers its associates’ college expenses.
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