The Wal-Mart Corporation

Wal-Mart

The history of Wal-Mart starts out in 1950, when Sam and Helen Walton purchased the Harrison Variety store in Bentonville, Arkansas. After the initial successes as owners of the small discount item store, the couple decided to branch out and open an addition store. The second store would be the first of many to bare the Walton family name; it was called the Walton 5 & 10. Sam Walton had the vision of opening large discount stores in rural communities, providing a place for people where they could purchase all of their household items at one location. Walton's idea took off and the company that he now called Wal-Mart, was listed on the New York Stock Exchange in October of 1970 for $16.50 per share, with a total of 300,00 shares issued. Not even a decade later, in 1979 Wal-Mart had become so successful that it was celebrating its first of many billion dollar years. Mr. Walton had a vision of constant improvement and worked tirelessly on procedures to enhance operations, as well as to grow the business. The ambitious attitude of Walton leads to the opening of Sam's Club in 1983, an enormous discount store where patrons may purchase a large variety of items in bulk. Wal-Mart only continued to thrive and in the 1990's it became America's top retailer. National domination was only the beginning; by 1991 Wal-Mart went international, with the opening of its first store in Mexico City.

The Wal-Mart Corporation has been a titan in the retail industry for over twenty years and shows no signs of slowing down anytime soon. The company is constantly looking for new ways to grow and improve the business. After receiving the Metal of Freedom (America's highest civilian honor) from The President of the United States in 1992, Sam Walton passes on. Even in Mr. Walton's absence, Wal-Mart continues to thrive. Most stores have turned into what are known as Super Centers, which are locations that not only carry the entire selection of traditional Wal-Mart items, but they also sell a very large assortment of groceries. In 2001 Wal-Mart opened its 1,000th domestic Super Store. Wal-Mart is able to pass on such great prices to its customers, because over the years they have opened their own distribution centers which they operate. By operating their own distribution centers they are able to purchase stock in extremely large quantities, allowing them to get the absolute best