Walmart posted much stronger-than-expected same-store sales over its fiscal fourth quarter while beating analysts' earnings forecasts. U.S. sale stores sales grew by 4.2%.
Walmart got its start in 1962 in the small town of Rogers, Arkansas. It was created by Sam Walton. 'Mr. Sam', as he was known, believed he could change the face of retail by offering lower prices and great service.
Who is Sam Walton?
In 1918, Sam Walton was born in Kingfisher, Oklahoma. In 1924, at the age of 24, he joined the military. The following year, Sam married Helen Robson. Eventually, when he finished the military, the young couple moved to Iowa and then to Arkansas. Along the way, he learned a lot about retail.
Eventually, Sam opened Waltons 5&10 in 1950. His early success and desire to build something even bigger eventually led him to create Walmart.
Walton passed away in 1992. But, his legacy lives on.
Walmart's corporate website shares this Mr. Sam quote, "If we work together, we'll lower the cost of living for everyone...we'll give the world an opportunity to see what it's like to save and have a better life."