The History Of Walmart


When Sam Walton opened the first Wal-Mart store in 1962, it was the beginning of an American success story that no one could have predicted. A small-town merchant who had operated variety stores in Arkansas and Missouri, Walton was convinced that consumers would flock to a discount store with a wide array of merchandise and friendly service. Hence, Wal-Mart's mission is to deliver big-city discounting to small-town America.
Sam's Roots
From humble, hard-working roots, Sam Walton built Wal-Mart Stores, Inc. into the largest, fastest-growing, and most profitable retailer in the world.
A child of the Depression, Sam always worked hard. He would milk the cows, and by the age of eight, he ...

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up and grew to 15 Ben Franklin Stores under the name of Walton 5&10. Sam had plenty of new ideas. He liked to deal with the suppliers directly so he could pass the savings on to the customers. He later brought a new idea to Ben Franklin management that they should open discount stores in small towns. They rejected his idea.

The First of 3054

Sam and his brother James (Bud) opened their first Wal-Mart Discount City store in Rogers, Arkansas in 1962. Walton and his wife Helen had to put up everything they had, including their house and property to finance the first 18,000 square-foot store.

With gradual growth over the next eight years, they went public in 1970 with only 18 stores and sales of $44 million. While other large chains lagged behind, Wal-Mart soon grew rapidly in the 1970's, due to their highly automated distribution centers and computerization. By 1980, they were up to 276 stores with revenues of over $1.2 billion.

Sam Walton's guiding philosophy for his stores ...

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After the record industry established a parental advisory system of stickering music albums containing potentially offensive material, Wal-Mart decided to ban the stickered albums altogether from their stores. The company subsequently has succeeded in influencing many record companies to release clean versions of stickered albums. Wal-Mart has considerable impact in the music industry, largely because about one-tenth of all compact disks sold in the United States are sold at Wal-Marts.

Today, Wal-Mart has over 728,000 Associates worldwide with 3,054 stores, sales of over $104 billion, is in operation in all 50 states and it's still growing. In an average week, approximately ...

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"The History Of Walmart." Essayworld.com. September 19, 2008. Accessed March 24, 2017. http://www.essayworld.com/essays/The-History-Of-Walmart/90174.
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PAPER DETAILS
Added: 9/19/2008 09:10:01 PM
Category: Economics
Words: 2986
Pages: 11

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