Walmart Inc. is an American multinational retail corporation that operates a chain marketing of wholesaler, hypermarkets, Trader seller discount department stores and grocery stores headquartered in Bentonville, Arkansas.
The company was founded in 1962 by Sam Walton and incorporated on October 31, 1969. It also owns and operates Sam’s Club Retail Warehouse. As of October 31, 2020, Walmart has 11,510 stores and clubs in 27countries, operating under 56 different names.
According to the Fortune Global 500 list in 2019, with US $ 514.405 billion, Walmart is the world’s largest retail company by revenue.It is also the world’s largest private employer with 2.2 million employees. It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton’s heirs own more than 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.
ABOUT SAM WALTON
Sam Walton was an American businessman and entrepreneur. He is famous for retailers Walmart and Sam’s Club. Walmart is an American multinational retail corporation that operates a chain of hypermarkets. It eventually grew and became the world’s largest corporation and largest private employer firm by revenue. Also, for a specific period of time, Sam was considered America’s wealthiest man. He also received the Distinguished Eagle Scout Award from the Boy Scouts of America. At the time of his death, he had a net worth of $ 8.6 billion.
SAM WALTON- EARLY LIFE
Sam was born in Kingfisher, Oklahoma. He lived near his farm with his parents. However, the family was unable to cope with their financial needs through farming. His father then decided to mortgage his farm and then worked for an agent of his brother’s mortgage company, Metropolitan Life Insurance.
The family later moved to Missouri and then Columbia, Missouri. He grew up during the Great Depression of the 1930s. He used to do household chores such as keeping cows, eating surplus and distributing them to customers to fulfill the financial end of the family. After completing his domestic chores, he distributed the Columbia Route Tribune newspapers on paper routes and sold magazine subscriptions as well.
SAM EDUCATION is became the youngest Eagle Scout while studying in eighth grade in Shelbina, Missouri. He married David H. of Columbia. Married to Married only completed further studies from Hickman High School and was named as “Most Versatile Boy”.He then graduated in economics from the University of Missouri in 1940 and was chosen as the “Permanent Speaker” of the class
SAM WALTON- WORKING LIFE
During the Great Depression period, he undertook many tasks to fulfill the financial end of his family. They served the table in exchange for food. He has earned many honors and awards since childhood. He joined the Zeta Fei section of the Beta Theta Pie fraternity. He also received QEBH, National Military Honors Scabbard and Blade. In addition, he has also served as president of Burley Bible Class and Stephens College.
They c. Penny joined Des Moines, Loa as a management trainee. This job paid him $ 75 per month. After 18 months, he resigned from the job in 1942 after joining the military force in World War II.
His military journey taught him to be a donor rather than a taker. He realized his interest in retail trade and business while in military service. Meanwhile, he joined the Army in the Army Intelligence Corps in the US, and served as a prisoner for aircraft plants and war camps. Gradually he rose to the prestigious rank of captain. He further quit the military and set up his own retail startup.
SAM WALTON STARTUP LIFE
He was At age 26, Sam started his first father-in-law store with his father-in-law and a loan of $ 20,000 and $ 5,000 he saved while serving in the military. He then bought a store that was a franchise of the Butler Brothers chain. They offered good or better prices than nearby shops and consistently stocked a wide variety of goods in their stores.
Post that, he opened his second store called Eagle Department Store. After seeing an increase in sales, the landlord began to make some contracts, for which Sam was not comfortable. He was forced to leave the rented store and received fixtures for $ 50,000, which Walton called a “fair price”.
He purchased a new location in Bentonville and eventually moved from $ 72,000 to $ 105,000 to $ 105,000 to $ 105,000 to $ 175,000 in the first year of its sale. The new store was named “Five and Dime”. Sam was encouraged to escort more locations and open the Ben Franklin franchise.
STORY BEHIND OF WALMART
The company was first labeled as Walmart in Rogers, Arkansas on July 2, 1962, which was called the Wal-Mart Discount City Store. Sam can supply merchandise for the entire Wal-Mart range of American-made products and demonstrate a focused effort to locate American manufacturers, which are reasonably priced to stand firmly against foreign rivals .
Sam’s model for Walmart incorporation offered two advantages, the first of which being limited competition. Another advantage was that traders from the surrounding areas were barred from entering the market. He emphasized on logistics logistics, regional warehouse stores and delivery through his trucking service. As of 31 January, the company was ranked second in sales volume among warehouse clubs valued at $ 57.839 billion. It operates 599 membership warehouse clubs in the U44 states.
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