Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.
The history of Walmart began in 1945 when 26-year-old businessman Sam Walton (March 29, 1918 – April 5, 1992) purchased a Ben Franklin variety store in Newport, Arkansas with the help of a $20,000 loan from his father-in-law, plus $5,000 he had saved while serving in the Army during World War II. His primary focus was selling products at low prices to get higher-volume sales at a lower profit margin.
Five years later, Walton purchased a store from Luther E. Harrison in Bentonville, Arkansas, and opened a five and dime store Walton's 5 & 10.
The first true Walmart opened on July 2, 1962, in Rogers, Arkansas. Called the Wal-Mart Discount City store, it was located at 719 West Walnut Street. It was Walton's assistant, Bob Bogle, who came up with the name "Wal-Mart" for the new chain.
Within five years the Wal-Mart company had grown to 24 stores across the state of Arkansas, and had reached $12.6 million in sales.
In 1968, the Wal-Mart company opened its first stores outside of Arkansas in Sikeston, Missouri and Claremore, Oklahoma.
The company was incorporated as Wal-Mart, Inc. on October 31, 1969
By 1988, Walmart was the most profitable retailer in the United States, and by October 1989, it had become the largest in terms of revenue, though it did not outsell K-Mart and Sears in terms of value of items purchased until late 1990 or early 1991.
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| By Mike Kalasnik from Fort Mill, USA - Wal-Mart Albemarle Rd Charlotte |
HISTORY
The history of Walmart began in 1945 when 26-year-old businessman Sam Walton (March 29, 1918 – April 5, 1992) purchased a Ben Franklin variety store in Newport, Arkansas with the help of a $20,000 loan from his father-in-law, plus $5,000 he had saved while serving in the Army during World War II. His primary focus was selling products at low prices to get higher-volume sales at a lower profit margin.
Five years later, Walton purchased a store from Luther E. Harrison in Bentonville, Arkansas, and opened a five and dime store Walton's 5 & 10.
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| The original Walton's Five and Dime store in Bentonville, By User Bobak |
The first true Walmart opened on July 2, 1962, in Rogers, Arkansas. Called the Wal-Mart Discount City store, it was located at 719 West Walnut Street. It was Walton's assistant, Bob Bogle, who came up with the name "Wal-Mart" for the new chain.
Within five years the Wal-Mart company had grown to 24 stores across the state of Arkansas, and had reached $12.6 million in sales.
In 1968, the Wal-Mart company opened its first stores outside of Arkansas in Sikeston, Missouri and Claremore, Oklahoma.
The company was incorporated as Wal-Mart, Inc. on October 31, 1969
By 1988, Walmart was the most profitable retailer in the United States, and by October 1989, it had become the largest in terms of revenue, though it did not outsell K-Mart and Sears in terms of value of items purchased until late 1990 or early 1991.
Sam Walton was an avid pilot and used his small aluminium plane to scout new store locations and keep tabs on his stores.
Sam Walton was worth around $8.6 billion when he died on April 5, 1992, but still insisted on having $5 haircuts (leaving no tip).
Vermont was the last U.S. state to get a Walmart, holding out until 1996.
There are more than 8,000 Walmart stores around the world, and over 2 million people work for Wal-Mart.
Wal-Mart was the largest U.S. grocery retailer in 2019, and 65 percent of Wal-Mart's US$510.329 billion sales came from U.S. operations. The company's revenue today is higher than the GDP of Denmark.
The Walton family of Wal-Mart own more wealth than the combined bottom 40 percent of America.
Wal-Mart makes $500 every second.
For every dollar spent in the U.S., 8 cents are spent at Walmart stores.
90% of Americans live within 15 minutes of a Walmart store.
1 in 100 employed Americans is currently working at Walmart.
Walmart employs more people worldwide than there are people living in New Mexico.
There are no Walmarts in New York City.
In 2012, Walmart held a contest, in which the rapper Pitbull would perform in a Walmart with the most likes on its Facebook page. After the #ExilePitbull Twitter campaign, the shop in the remote island town of Kodiak, Alaska, ended up winning.
One of the reasons Walmart failed to establish itself in Germany is that it required its checkout employees to smile at customers. This was however perceived by most Germans as unnerving, as Germans usually don't smile at strangers.
Wal-Mart has its own ‘radio station’ that plays the same music across every store in the United States, complete with DJs, shoutouts, and the like.
In 2005, movie director Robert Greenwald made a documentary movie called Wal-Mart: The High Cost of Low Price. The film presented a negative picture of Wal-Mart's business practices through interviews with former employees, small business owners, and footage of Wal-Mart executives. After this movie was announced, director Ron Galloway made a film that ended up being released at the same time called Why Wal-Mart Works; and Why That Drives Some People C-R-A-Z-Y. This movie had a positive view of Wal-Mart.
Shaquille O'Neal holds Walmart's record for the biggest purchase sale in one stop. Shaq spent just over $70,000 on one occasion in 2008.
Police are called to Walmart stores three to four times as often as they are to other big-box retailers like Target. 25% of all arrests in St. Petersburg, Florida and 92% of larceny calls in Granite Falls, North Carolina are attributed to single Walmart locations in each city.
Sam Walton was worth around $8.6 billion when he died on April 5, 1992, but still insisted on having $5 haircuts (leaving no tip).
Vermont was the last U.S. state to get a Walmart, holding out until 1996.
FUN WALMART FACTS
There are more than 8,000 Walmart stores around the world, and over 2 million people work for Wal-Mart.
Wal-Mart was the largest U.S. grocery retailer in 2019, and 65 percent of Wal-Mart's US$510.329 billion sales came from U.S. operations. The company's revenue today is higher than the GDP of Denmark.
The Walton family of Wal-Mart own more wealth than the combined bottom 40 percent of America.
Wal-Mart makes $500 every second.
For every dollar spent in the U.S., 8 cents are spent at Walmart stores.
90% of Americans live within 15 minutes of a Walmart store.
1 in 100 employed Americans is currently working at Walmart.
Walmart employs more people worldwide than there are people living in New Mexico.
There are no Walmarts in New York City.
In 2012, Walmart held a contest, in which the rapper Pitbull would perform in a Walmart with the most likes on its Facebook page. After the #ExilePitbull Twitter campaign, the shop in the remote island town of Kodiak, Alaska, ended up winning.
One of the reasons Walmart failed to establish itself in Germany is that it required its checkout employees to smile at customers. This was however perceived by most Germans as unnerving, as Germans usually don't smile at strangers.
Wal-Mart has its own ‘radio station’ that plays the same music across every store in the United States, complete with DJs, shoutouts, and the like.
In 2005, movie director Robert Greenwald made a documentary movie called Wal-Mart: The High Cost of Low Price. The film presented a negative picture of Wal-Mart's business practices through interviews with former employees, small business owners, and footage of Wal-Mart executives. After this movie was announced, director Ron Galloway made a film that ended up being released at the same time called Why Wal-Mart Works; and Why That Drives Some People C-R-A-Z-Y. This movie had a positive view of Wal-Mart.
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| Film poster |
Shaquille O'Neal holds Walmart's record for the biggest purchase sale in one stop. Shaq spent just over $70,000 on one occasion in 2008.
Police are called to Walmart stores three to four times as often as they are to other big-box retailers like Target. 25% of all arrests in St. Petersburg, Florida and 92% of larceny calls in Granite Falls, North Carolina are attributed to single Walmart locations in each city.
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