Walmart History Essay example

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Wal-Mart Stores History Sam Walton founded Walmart in 1962. He was a businessman who started working in retail in 1940 at a J.C. Penney store in Des Moines, Iowa. In 1945, he ran a retail store in Newport, Arkansas, part of a chain of variety stores named Ben Franklin. Instead of renewing his lease, however, he decided to open a new Ben Franklin franchise in Bentonville, Arkansas and called it “Walton’s Five and Dime.” He succeeded by selling at a discount. Walmart’s purpose best exemplifies what the company still stands for today: “Saving People Money So They Can Live Better” (Walmartstores.com) Within five years, the company had grown to 24 stores throughout Arkansas, reaching sales of $12.6 million. The company officially…show more content…
In 2000, H. Lee Scott became Walmart’s President and CEO. Sales increased to $165 billion. By 2002 it had been listed at America’s largest corporation on Fortune 500 list, with profits of $6.7 billion. By 2005, it had sales of $312.4 billion, 6,200 facilities worldwide and 1.6 million associates. Recent Operating Results According to the press release dated February 18, 2010 (Bentonville, Ark), Wal-Mart Stores, Inc. reported financial results for year ended January 31, 2010. Net sales for the fourth quarter were $112.8 billion, which was a 4.6 percent increase from fourth quarter of the previous year. Diluted earnings per share were $1.23—up from $0.96 from the previous year. Adjusted earnings were $4.5 billion ($1.17 per share). (“Walmart Reports”, 2010). As of March 29, 2011 4:00 p.m. ET: WMT 52.26 0.07 (0.13%) Dow 12,279.01 81.13 (0.67%) S&P 500 1,319.44 9.25 (0.71%) (Investors.walmartstores.com) Economic, Social & Political Forces According to its Edgaronline.com, Wal-Mart reports that current economic conditions could adversely affect the company’s financial performance. “In the United States, higher interest rates, higher fuel and other energy costs, weakness in the housing market, inflation, higher levels of unemployment, unavailability of consumer credit, higher consumer debt levels, higher tax rates and other changes in tax laws,

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