Walmart was founded in 1962 by Sam Walton in Rogers, Arkansas. It has grown to be the world's largest company by revenue and largest private employer in the world. In recent years, Walmart's Sam's Club division cut 2,300 workers, or 2% of its workforce, in order to make the company more nimble and better able to compete with competitors like Costco and Amazon. A Walmart spokesman said the job cuts were "the right move to make sure we are positioning ourselves for growing in the future."
Founded by Sam Walton in 1962, Wal-Mart became the largest public corporation, emphasizing low prices and rapid expansion, including international growth.
In the 2000s, Wal-Mart focused on sustainability and technology, achieving $400 billion in sales, opening stores globally, and employing over 2 million associates.
In 2017, Wal-Mart cut 2,300 employees to increase operational efficiency amidst competition with Amazon.
• Founded bySamWalton in 1962.
• World's largest public corporation by revenue
• Largest private employer in the world
• Largest grocery retailer in the United States,
• Largest toy seller in the U.S.
• Also owns and operates the North American Company, Sam's Club.
5.
Reason of selection
Wal-Mart'sSam's Club cut 2,300 workers as it
strives to be more nimble.
To compete better with CostcoWholesale Corp. and online
players like Amazon.com
Bill Durling, a spokesman at Sam's Club, says:
"We felt this was the right move to make sure we are
positioning ourselves for growing in the future,"
6.
Retail Revolution
SamWalton'sstrategy was built on an unshakeable
foundation:The Lowest Prices Anytime, Anywhere.
1962
On July 2, 1962, SamWalton opened the first Walmart store in
Rogers, Ark.
1967
TheWalton 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.
7.
1970s
Walmart became apublicly 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 NewYork Stock Exchange (WMT). With 51
stores, Walmart recorded sales of $78 million.
1975
Inspired by a visit to a Korean manufacturing facility, SamWalton
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.
8.
1980
•Reached $1 billionin annual sales,
• Faster than any other company at that time.
• 276 stores and employed 21,000 associates.
•The first Sam’s Club opened in Midwest City, Okla.
• Replaced cash registers with computerized point-of-
sale systems,
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 Wal-Mart Supercenter opened in Washington,
Mo.,
David Glass was named CEO.
9.
1990s
America’s Top Retailer
By1990, Wal-Mart was the nation's number-
one retailer. As the Wal-Mart Supercenter
redefined convenience and one-stop
shopping, Every Day Low Prices went
international.
1991
Through a joint venture with Cifra, a
Mexican retail company, Wal-Mart went
global, opening a Sam’s Club in Mexico City.
1992
Receive the Medal of Freedom,
RobWalton became chairman of the
board. Wal-Mart employed 371,000
associates in 1,928 stores and clubs.
1993
Wal-Mart celebrated its first $1 billion sales
week.
10.
1994
Walmart expandedinto
Canada with the purchase of
122Woolco 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 inArkansas.
1999
Walmart entered the United
Kingdom with the
acquisition of ASDA.
11.
2000s
NewMillennium
2000
H. Lee Scott, Jr.
succeeded David
Glass as CEO.
Walmart.com was
founded,
Walmart employed
more than 1.1 million
associates in 3,989
stores and clubs
worldwide.
2002
Walmart topped the
Fortune 500 ranking
of America's largest
companies.
12.
2005
Leading role indisaster relief, contributing
$18 million and 2,450 truckloads of supplies
Commitment to environmental
sustainability, announcing goals to create
zero waste, use only renewable energy and
sell products that sustain people and the
environment.
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.
13.
2009
Mike Duke becameCEO. Wal-Mart entered
Chile with the acquisition of a majority
stake in D&S S.A.
For the first time, Wal-Mart exceeded $400
billion in annual sales.
2010
Bharti Wal-Mart, a joint venture, opened
its first store in India.
Wal-Mart committed $2 billion through the
end of 2015 to help end hunger in the
United States.
2011
With the acquisition of Massmart in South
Africa, Wal-Mart surpassed 10,000 retail
units around the world. The first Wal-Mart
Express stores were introduced in
Arkansas. Wal-Mart established
walmartlabs, a hub for developing social,
mobile and global platforms.
.
14.
2012
Wal-Mart celebrated 50
yearsof helping people save
money so they can live
better.
2014
Doug McMillan 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