Tuesday, February 16, 2010

Walmart - a short history

1940 Sam Walton worked at J.C.Penny in Des Moines, Iowa, for 18 months.

1945 Walton operated a Ben Franklin store in Newport, Arkansas. He opened a new Ben Franklin franchise in Bentonville, AK that he named "Walton's Five and Dime." He did very well by offering lower product markups than his competitors.

1962 Walton the first Wal-Mart Discount City store in Rogers, AK.

1967 Walton owned 24 stores in Arkansas with $12 Million in total sales.

1969 Incorporation of Wal-Mart Stores, Inc. on October 31 (Halloween)

1970 38 stores operating with 1,500 employees and sales of $44.2 million - stock now sold on the NY Stock Exchange

1971 Wal-Mart was operating in five states: Arkansas, Kansas, Louisiana, Missouri, and Oklahoma

1975 125 stores with 7,500 employees and total sales of $340.3 million

1987 1,198 stores with sales of $15.9 billion and 200,000 associates - completion of the company's satellite network, a $24 million investment linking all operating units of the company with its Bentonville office - allowing the corporate office to track inventory and sales and to instantly communicate to stores

1988, first Walmart Supercenter opened in Washington, Missouri

2002 listed for the first time as America's largest corporation on the Fortune 500 list

2005 estimates indicate that the company controlled about 20% of the retail grocery and consumables business - 6,200 facilities around the world—including 3,800 stores in the United States and 2,800 elsewhere

September, 2005 after hurricane Katrina, Walmart donated $20 million in cash, 1,500 truckloads of free merchandise, food for 100,000 meals, as well as the promise of a job for every one of its displaced workers

Source: Wikipedia

Greg Cryns
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