Walmart As A Crusade For The Consumer

1243 WordsOct 28, 20155 Pages
Walmart was founded by Same Walton in 1945. Mr. Walton was, a businessman and former J. C. Penny employee. He purchased a branch of the Ben Franklin Stores form the the Butler Brothers. Mr. Walton primary focus was on selling products at low prices to get higher-volume sales at a lower profit margin. He portraying it as a crusade for the consumer. He had some setbacks, because the lease price and branch purchase were unusually high, but he was able to find lower-cost suppliers than those used by other stores. He passed on the savings in the product pricing. He was able to increased sales 45 percent in his first year of ownership to $105,000 in revenue, which increased to $140,000 the next year and $175,000 the year after that. By fifth year, his store was generating $250,000 in revenue. When the store lease expired and unable to reach an agreement for renewal, he opened a new store at 105 N. Main Street in Bentonville, Arkansas naming it "Walton 's Five and Dime." That store is now the Walmart Museum. In Rogers, Arkansas on July 2, 1962, he opened the first Walmart Discount City store at 719 W. Walnut Street. The company 's "Store #1" was converted and relocated to a Supercenter concept is located several blocks west at 2110 W. Walnut Street as of 2015. Within its first five years, the company expanded to 24 stores across Arkansas and reached $12.6 million in sales. Starting in 1968, the first stores built outside of Arkansas was in Sikeston, Missouri and
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