Walmart (WMT) got its start in 1962 in the small town of Rogers, Arkansas. It was created by Sam Walton. 'Mr. As he was known, Sam believed he could change the face of retail by offering lower prices and great service.
Who is Sam Walton?
1918. Sam Walton was born in Kingfisher, Oklahoma.
1924. At the age of 24, he joined the military.
1925. Walton 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.
1950. Sam opened Waltons 5&10. He learned a lot in his early career and desired to build something even bigger. That, of course, led him to create Walmart.
1962. Walton created Walmart.
1988 – Recognizing the need for a complete shopping experience in one store, Walton opened the first Walmart Supercenter in Washington, Missouri.
1992. Walton passed away, but his legacy lives on.
1996. Walmart opened its first store in China.
2007. Walmart.com launched its innovative Site to Store service.
2015. Walmart announced a $2.7 billion investment in its U.S. workforce.
Walmart's operations are organized into four divisions: Walmart U.S., Walmart Intl., Sam's Club and Global eCommerce.
About 40% of products sold in Walmart are private label store brands, some of which include Sam’s Choice, Special Kitty and Great Value.
Today, Walmart operates approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. Walmart employs 1.6 million people in the U.S. and 2.3 million people worldwide.
Sam Walton Quote: "There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else."
Editor's Note: This video was first Published on November 19, 2019.