Wal

Wal-Mart 1
Wal-Mart
Wal-Mart Stores, Inc.
Type
Public (NYSE: WMT
[1]
Dow Jones Industrial Average Component
Industry Retailing
Founded Rogers, Arkansas, U.S. (1962)
Founder(s) Sam Walton
Headquarters
Bentonville, Arkansas, U.S.
36°21 51 N 094°12 59 W
[2]
Area served Worldwide
Key people Mike Duke (CEO)
H. Lee Scott (Chairman of the Executive Committee of the
Board)
S. Robson Walton (Chairman)
Products Discount Stores
Supercenters
Neighborhood Markets
Revenue
US$408.21 billion (2009)

[3]
Operating income
US$ 23.95 billion (2009)
[4]
Net income
US$ 14.33 billion (2009)
[4]
Total assets
US$ 170.70 billion (2009)
[5]
Total equity
US$ 70.74 billion (2009)
[4]
Employees
approx. 2,100,000 (2009)
[6]
Website
www.walmartstores.com
[7]
www.walmart.com
[8]
Wal-Mart Stores, Inc. (formerly branded as Wal-Mart, branded as Walmart since 2008) (NYSE: WMT
[1]
) is an
American public multinational corporation that runs a chain of large discount department stores and a
chain of
warehouse stores. In 2010 it was the world's largest public corporation by revenue, according to the
Forbes Global
2000 for that year.
[9]
The company was founded by Sam Walton in 1962, incorporated on October 31, 1969, and
publicly traded on the New York Stock Exchange in 1972. Wal-Mart, headquartered in Bentonville,
Arkansas, is the
largest majority private employer
[10]
and the largest grocery retailer in the United States. In 2009, it generated 51%
of its US$258 billion sales in the U.S. from grocery business.
[11]
It also owns and operates the Sam's Club retail
warehouses in North America.
Wal-Mart has 8,500 stores in 15 countries, with 55 different names.
[12]
The company operates under its own name in
the United States, including the 50 states. It also operates under its own name in Puerto Rico. Wal-Mart
operates in
Mexico as Walmex, in the United Kingdom as Asda ("Asda Wal-Mart" in some branches), in Japan as
Seiyu, and in
India as Best Price. It has wholly owned operations in Argentina, Brazil, and Canada. Wal-Mart's
investmentsWal-Mart 2
outside North America have had mixed results: its operations in the United Kingdom, South America and
China are
highly successful, while it was forced to pull out of Germany and South Korea when ventures there were
unsuccessful.
History
Sam Walton's original Walton's Five and Dime
store in Bentonville, Arkansas, now serving as
the Wal-Mart Visitor's Center
Sam Walton, a businessman from Arkansas, began his retail career
when he started work on June 3, 1940, at a J. C. Penney store in Des
Moines, Iowa where he remained for 18 months. In 1945, he met
Butler Brothers, a regional retailer that owned a chain of variety stores
called Ben Franklin and that offered him one in Newport, Arkansas.
[13]
Walton was extremely successful in running the store in Newport, far
exceeding expectations.
[14]
However, when the lease came up for
renewal, Walton could neither come to agreement on the existing
store's lease renewal nor find a new location in Newport. Instead, he
opened a new Ben Franklin franchise in Bentonville, Arkansas, but
called it "Walton's Five and Dime." There, he achieved higher sales
volume by marking up slightly less than most competitors.
[15]
On July 2, 1962, Walton opened the first Wal-Mart Discount City store located at 719 Walnut Ave. in
Rogers,
Arkansas. The building is now occupied by a hardware store and an antique mall. Within five years, the
company
expanded to 24 stores across Arkansas and reached $12.6 million in sales.
[16]
In 1968, it opened its first stores

outside Arkansas, in Sikeston, Missouri and Claremore, Oklahoma.
[17]
Incorporation and growth
The company was incorporated as Wal-Mart Stores, Inc. on October 31, 1969. In 1970, it opened its
home office and
first distribution center in Bentonville, Arkansas. It had 38 stores operating with 1,500 employees and
sales of $44.2
million. It began trading stock as a publicly held company on October 1, 1970, and was soon listed on
the New York
Stock Exchange. The first stock split occurred in May 1971 at a market price of $47. By this time, Wal-
Mart was
operating in five states: Arkansas, Kansas, Louisiana, Missouri, and Oklahoma; it entered Tennessee in
1973 and
Kentucky and Mississippi in 1974. As it moved into Texas in 1975, there were 125 stores with 7,500
employees and
total sales of $340.3 million.
[17]
Wal-Mart opened its first Texas store in Mount Pleasant on November 11, 1975.
[18]
Logo used from 1992-2008 (2001-2009 in
Canada, 1992-2009 in Mexico, although Mexico
used the current logo in December 2008). It is
still used in Mainland China. Still seen on many
American locations, even though a majority of
Canadian locations have this logo rather than the
1994-2001 Wal-Mart Canada logo with a hyphen.
In the 1980s, Walmart continued to grow rapidly, and by its 25th
anniversary in 1987 there were 1,198 stores with sales of $15.9 billion
and 200,000 associates.
[17]
This year also marked the completion of the
company's satellite network, a $24 million investment linking all
operating units of the company with its Bentonville office via two-way
voice and data transmission and one-way video communication. At the
time, it was the largest private satellite network, allowing the corporate
office to track inventory and sales and to instantly communicate to
stores.
[19]
In 1988, Sam Walton stepped down as CEO and was
replaced by David Glass.
[20]
Walton remained as Chairman of the Board, and the company also rearranged other
people in senior positions.Wal-Mart 3
Inside a Walmart Supercenter in West Plains,
Missouri
In 1988, the first Walmart Supercenter opened in Washington,
Missouri.
[21]
Thanks to its superstores, it surpassed Toys "R" Us in toy
sales in the late 1990s.
[22]
The company also opened overseas stores,
entering South America in 1995 with stores in Argentina and Brazil;

and Europe in 1999, buying Asda in the UK for $10 billion.
[23]
In 1998, Walmart introduced the "Neighborhood Market" concept with
three stores in Arkansas.
[24]
By 2005, estimates indicate that the
company controlled about 20% of the retail grocery and consumables
business.
[25]
In 2000, H. Lee Scott became President and CEO, and Walmart's sales
increased to $165 billion.
[26]
In 2002, it was listed for the first time as
America's largest corporation on the Fortune 500 list, with revenues of $219.8 billion and profits of $6.7
billion. It
has remained there every year, except for 2006.
[27] [28]
In 2005, Walmart had $312.4 billion in sales, more than 6,200 facilities around the worldͶincluding
3,800 stores in
the United States and 2,800 elsewhere, employing more than 1.6 million "associates" worldwide. Its U.S.
presence
grew so rapidly that only small pockets of the country remained further than 60 miles (100 km) from the
nearest
Wal-Mart.
[29]
As Walmart grew rapidly into the world's largest corporation, many critics worried about the effect of its
stores on
local communities, particularly small towns with many "mom and pop" stores. There have been several
studies on
the economic impact of Walmart on small towns and local businesses, jobs, and taxpayers. In one,
Kenneth Stone, a
Professor of Economics at Iowa State University, found that some small towns can lose almost half of
their retail
trade within ten years of a Wal-Mart store opening.
[30]
However, in another study, he compared the changes to what
small town shops had faced in the past Ͷ including the development of the railroads, the advent of the
Sears
Roebuck catalog, as well as the arrival of shopping malls Ͷ and concluded that shop owners who adapt
to changes
in the retail market can thrive after Wal-Mart arrives.
[30]
A later study in collaboration with Mississippi State
University showed that there are "both positive and negative impacts on existing stores in the area
where the new
supercenter locates."
[31]
In the aftermath of Hurricane Katrina in September 2005, Walmart was able to use its logistical
efficiency in
organizing a rapid response to the disaster, donating $20 million in cash, 1,500 truckloads of free
merchandise, food
for 100,000 meals, as well as the promise of a job for every one of its displaced workers.
[32]
An independent study
by Steven Horwitz of St. Lawrence University found that Walmart, The Home Depot and Lowe's made
use of their
local knowledge about supply chains, infrastructure, decision makers and other resources to provide
emergency
supplies and reopen stores well before FEMA began its response.
[33]
While the company was overall lauded for its
quick response ʹ amidst the criticisms of the Federal Emergency Management Agency ʹ several
critics were
nonetheless quick to point out that there still remain issues with the company's labor relations.
[34]
Recent initiatives
In October 2005, Wal-Mart announced it would implement several environmental measures to increase
energy
efficiency. The primary goals included spending $500 million a year to increase fuel efficiency in Wal-
Mart͛s truck
fleet by 25% over three years and double it within ten, reduce greenhouse gas emissions by 20% in
seven years,
reduce energy use at stores by 30%, and cut solid waste from U.S. stores and Sam͛s Clubs by 25% in
three years.
CEO Lee Scott said that Wal-Mart's goal was to be a "good steward for the environment" and ultimately
use only
renewable energy sources and produce zero waste.
[35]
The company also designed three new experimental stores in
McKinney, Texas, Aurora, Colorado, and Las Vegas, Nevada. with wind turbines, photovoltaic solar
panels,
biofuel-capable boilers, water-cooled refrigerators, and xeriscape gardens.
[36]
Despite much criticism of itsWal-Mart 4

environmental record, Wal-Mart took a few steps in what is viewed as a positive direction, which
included becoming
the biggest seller of organic milk and the biggest buyer of organic cotton in the world, as well as
reducing packaging
and energy costs.
[37]
Wal-Mart also spent nearly a year working with outside consultants to discover the company's
total environmental impact and find where they could improve. They discovered, for example, that by
eliminating
excess packaging on their toy line Kid Connection, they could not only save $2.4 million a year in
shipping costs but
also 3,800 trees and a million barrels of oil.
[37]
Walmart has also recently created its own electric company in Texas,
Texas Retail Energy, and plans to supply its stores with cheap power purchased at wholesale prices.
Through this
new venture, the company expects to save $15 million annually and also lays the groundwork and
infrastructure to
sell electricity to Texas consumers in the future.
[38]
In March 2006, Walmart sought to appeal to a more affluent demographic. The company launched a
new
Supercenter concept in Plano, Texas, intended to compete against stores seen as more upscale and
appealing, such as
Target.
[39] [40]
The new store has wood floors, wider aisles, a sushi bar, a coffee/sandwich shop with free Wi-Fi
Internet access, and more expensive beers, wines, electronics, and other goods. The exterior has a
hunter green
background behind the Wal-Mart letters, similar to Neighborhood Market by Walmarts, instead of the
blue
previously used at its supercenters.
On September 12, 2007, Walmart introduced new advertising with the slogan, "Save Money Live
Better," replacing
the "Always Low Prices, Always" slogan, which it had used for the previous 19 years. Global Insight,
which
conducted the research that supported the ads, found that Walmart's price level reduction resulted in
savings for
consumers of $287 billion in 2006, which equated to $957 per person or $2,500 per household (up 7.3%
from the
2004 savings estimate of $2,329).
[41]
On June 30, 2008, Walmart unveiled a new company logo, featuring the non-hyphenated name
"Walmart" and in
place of the star, a symbol that resembles a sunburst or flower. The new logo received mixed reviews
from some
design critics, who questioned whether the new logo was as bold as competitors, such as the Target
bullseye or as
instantly recognizable as the former company logo, which was used for 18 years.
[42]
The new logo made its debut on
the company's walmart.com website on July 1, 2008. Walmart's U.S. locations were to update store
logos in the fall
of 2008, as part of an ongoing evolution of its overall brand.
[43]
Wal-Mart Canada started to adopt the logo for its
stores in early 2009.

On March 20, 2009, Wal-Mart announced that it is paying a combined $933.6 million in bonuses to
every full and
part time hourly worker of the company. An additional $788.8 million in profit sharing, 401(k)
contributions, and
hundreds of millions of dollars in merchandise discounts and contributions to the employees' stock
purchase plan is
also included in this plan. While the economy at large was in an ongoing recession, the largest retailer in
the U.S.
reported solid financial figures for the most recent fiscal year (ending January 31, 2009), with $401.2
billion in net
sales, a gain of 7.2% from the prior year. Income from continuing operations increased 3% to $13.3
billion, and
earnings per share rose 6% to $3.35.
[44]
On July 16, 2009, Wal-Mart announced plans to develop a worldwide sustainable product index.
[45]
On February 22, 2010, the company confirming it was acquiring video streaming company Vudu, Inc.
for an
estimated $100 million.
[46]
Healthy foods initiative
In January, 2011, at the urging of Michelle Obama and her staff, Wal-Mart announced a program to
improve the
nutritional values of its store brands over the next five years, gradually reducing the amount of salt and
sugar, and
eliminating trans fat. Wal-Mart also promised to negotiate with suppliers such as Kraft with respect to
nutritional
issues. Reductions in the prices of whole foods and vegetables were also promised as well as efforts to
open stores in
low-income areas, "food deserts", where there are no supermarkets.

[47]Wal-Mart 5
Operating divisions
Wal-Mart's operations are organized into three divisions: Wal-Mart Stores U.S., Sam's Club, and Wal-
Mart
International.
[48]
The company does business in nine different retail formats: supercenters, food and drugs, general
merchandise stores, bodegas (small markets), cash and carry stores, membership warehouse clubs,
apparel stores,
soft discount stores and restaurants.
[48]
A panoramic photo of a remodeled Walmart Supercenter in Laurel, Maryland.
Wal-Mart Stores U.S.
Map of current Wal-Mart stores in the U.S.
Wal-Mart Stores U.S. is Wal-Mart's largest division,
accounting for $258 billion, or 63.8% of total sales for
financial year 2010.
[48]
It consists of three retail
formats that have become commonplace in the United
States: Discount Stores, Supercenters, and
Neighborhood Markets. The retail department stores
sell a variety of mostly non-grocery products, though
emphasis has now shifted towards supercenters, which
include more grocery items. This division also includes
Wal-Mart's online retailer, walmart.com.

In September 2006, Wal-Mart announced a pilot program to sell generic drugs at just $4 per
prescription. The pilot
program was launched at stores in the Tampa, Florida area, and expanded to all stores in Florida by
January 2007.
While the average price of generics is $29 per prescription, compared to $102 for name-brand drugs,
Wal-Mart
maintains that it is not selling at a loss, or providing as an act of charity ʹ instead, they are using the
same
mechanisms of mass distribution that it uses to bring lower prices to other products.
[49]
While it's little known
outside of the drug industry, many of Walmart͛s low cost generics are imported from India and made by
drug makers
in that country including Ranbaxy and CIPLA.
[50]
On February 6, 2007, the company launched a "beta" version of a movie download service, which sold
about 3,000
films and television episodes from all major studios and television networks.
[51]
The service was discontinued on
December 21, 2007 due to low sales.
[52]Wal-Mart 6
Walmart Discount Stores
A typical Wal-Mart discount department store in
Laredo, Texas
Walmart Discount Stores are discount department stores with size
varying from 51000 square feet (4738.1 m
2
) to 224000 square feet
(20810.3 m
), with an average store covering about 102000 square feet
(9476.1 m
.(
[48]
They carry general merchandise and a selection of
groceries. Many of these stores also have a garden center, a pharmacy,
Tire & Lube Express, optical center, one-hour photo processing lab,
portrait studio, a bank branch, a cell phone store and a fast food outlet.
Some also have gasoline stations.
[53]
The first Wal-Mart store opened in Rogers, Arkansas in 1962.
In 1990, Wal-Mart opened its first Bud's Discount City location in
Bentonville. Bud's operated as a closeout store, much like Big Lots. Many locations were opened to fulfill
leases in
shopping centers as Wal-Mart stores left and moved into newly built Supercenters. All of the Bud's
Discount City
stores closed or converted into Wal-Mart Discount Stores by 1997.
[16] [54]
As of October 2010, there were 750 Walmart Discount Stores in the United States. In 2006, the busiest
in the world
was one in Rapid City, South Dakota.
[55]
Walmart Supercenter
A picture of a remodeled Wal-Mart Supercenter
in Miami, Florida.
Wal-Mart Supercenters are hypermarkets with size varying from 98000
to 261000 square feet (9104.5 to 24247.7 m
), with an average of about
197000 square feet (18301.9 m
.(
[48]
These stock everything a
Wal-Mart Discount Store does, and also include a full-service
supermarket, including meat and poultry, baked goods, delicatessen,
frozen foods, dairy products, garden produce, and fresh seafood. Many
Wal-Mart Supercenters also have a garden center, pet shop, pharmacy,
Tire & Lube Express, optical center, one-hour photo processing lab,
portrait studio, and numerous alcove shops, such as cellular phone
stores, hair and nail salons, video rental stores, local bank branches
(newer locations have Woodforest National Bank branches), and fast
food outlets Ͷ usually Subway, but sometimes Dunkin' Donuts,
McDonald's or Blimpie. Some also sell gasoline distributed by Murphy Oil Corporation (whose Wal-Mart
stations
are branded as "Murphy USA"), Sunoco, Inc. ("Optima"), or Tesoro Corporation ("Mirastar").
[53]
The first Supercenter opened in 1988 in Washington, Missouri. A similar concept, Hypermart USA,
opened in
Garland, Texas a year earlier. All of the Hypermart USA stores were later closed or converted into
Supercenters.
As of October 2010, there were 2,843 Wal-Mart Supercenters in the United States.
[55]
The largest Supercenter in the
United States, covering 260000 square feet (24154.8 m
) and two floors, is located in Crossgates Commons in
Albany, New York.
[56]
Since the introduction of the new Wal-Mart logo in 2008, the company has been phasing out the
"Supercenter"
portion of the name on these stores, simply referring to these stores as "Walmart."Wal-Mart 7
Neighborhood Market by Walmart
Neighborhood Markets by Walmart are grocery stores that average about 42000 square feet (3901.9 m
.(
[48]
They
are used to fill the gap between Discount Store and Supercenters, offering a variety of products, which
include full
lines of groceries, pharmaceuticals, health and beauty aids, photo developing services, and a limited
selection of
general merchandise.
The first Neighborhood Market opened in 1998 in Bentonville, Arkansas. As of October 2010, there were
181 of
them in the United States.

[55]
Neighborhood Market by Walmart now has the same logo as Wal-Mart does. However, this change took
place a few
months after the new logo was introduced on June 30, 2008.
Supermercado de Wal-Mart
Supermercado de Wal-Mart in Spring Branch,
Houston
Wal-Mart opened "Supermercado de Wal-Mart" locations to appeal to
Hispanic communities in the United States.
[57]
The first one, a
39000 square feet (3600 m
) store in the Spring Branch area of
Houston, opened on Wednesday April 29, 2009.
[58]
The store was a
conversion of an existing Wal-Mart.
[59] [60]
Wal-Mart also planned to
open "Mas Club," a warehouse retail operation patterned after Sam's
Club.
[61]
Marketside
Marketside is a new chain of grocery stores opened in October 2008,
the stores are said to be less than half the size of a conventional
supermarket, as stated in the backgrounder found on Wal-Mart's official homepage. As of October 2010,
there were
four Marketside stores, all within the state of Arizona.
[55]
Each of these stores is open from 7 a.m. to 10 p.m.
Sam's Club
A typical Sam's Club store in Maplewood,
Missouri
Sam's Club is a chain of warehouse clubs which sell groceries and
general merchandise, often in large quantities. Sam's Club stores are
"membership" stores and most customers buy annual memberships.
However, non-members can make purchases either by buying a
one-day membership or paying a surcharge based on the price of the
purchase.
[62]
Some locations also sell gasoline.
[53]
The first Sam's Club
opened in 1983 in Midwest City, Oklahoma
[62]
under the name "Sam's
Wholesale Club".
Sam's has found a niche market in recent years as a supplier to small
businesses. All Sam's Club stores are open early hours exclusively for
business members and their old slogan was "We're in Business for
Small Business." Their current slogan is "Savings Made Simple" as

Sam's Club attempts to attact a more diverse member base. In March 2009, the company announced
that it plans to
enter the electronic medical records business by offering a software package to physicians in small
practices for
$25,000. Wal-Mart is partnering with Dell and eClinicalWorks.com in this new venture.
[63]
Sam's Club's sales during 2010 were $47 billion, or 11.5% of Wal-Mart's total sales.
[48]
As of October 2010, there
were 607 Sam's Clubs in the United States. Wal-Mart also operates more than 100 international Sam͛s
Clubs in
Brazil, China, Mexico, and Puerto Rico.
[64]Wal-Mart 8
Wal-Mart International
Wal-Mart's international operations currently comprise 4,263 stores and 660,000 workers in 15
countries outside the
United States.
[65]
There are wholly owned operations in Argentina, Brazil, Canada,and the UK. With 2.1 million
employees worldwide, the company is the largest private employer in the US and Mexico, and one of
the largest in
Canada.
[66]
In the financial year 2010, Wal-Mart's international division sales were $100 billion, or 24.7% of total
sales.
[48]
Wal-Mart has operated in Canada since its acquisition of 122 stores comprising the Woolco division of
Woolworth
Canada, Inc in 1994. As of July 2010, it operates over 300 locations (including 100 Supercentres) and
employs
82,000 Canadians, with a local home office in Mississauga, Ontario.
[67]
Walmart Canada's first three Supercentres
(spelled as in Canadian English) opened on November 8, 2006, in Hamilton, London, and Aurora,
Ontario. The
100th Canadian Supercentre opened on July 10, 2010, in Victoria, BC.
Wal-Mart's UK subsidiary, Asda
Sales in 2006 for Wal-Mart's UK subsidiary, Asda (which retains the
name it had before acquisition by Wal-Mart), accounted for 42.7% of
sales of Wal-Mart's international division. In contrast to Wal-Mart's US
operations, Asda was originally and still remains primarily a grocery
chain, but with a stronger focus on non-food items than most UK
supermarket chains other than Tesco. As of 2010, Asda had 345 stores,
some of which were former Woolco stores operated by the UK division
of FW Woolworth. The stores are branded Asda Wal-Mart
Supercentres, as well as Asda Supermarkets, Asda Living, George
High Street and Asda Essentials stores.
[68]
In addition to its wholly owned international operations, Wal-Mart has joint ventures in China and
several
majority-owned subsidiaries. Wal-Mart's majority-owned subsidiary in Mexico is Walmex. In Japan, Wal-

Mart owns
about 53% of Seiyu.
[69]
Additionally, Wal-Mart owns 51% of the Central American Retail Holding Company
(CARHCO), consisting of more than 360 supermarkets and other stores in Guatemala, El Salvador,
Honduras,
Nicaragua, and Costa Rica.
[70]
Bompreço in Natal, Brazil.
In 2004, Wal-Mart bought the 116 stores in the Bompreço supermarket
chain in northeastern Brazil. In late 2005, it took control of the
Brazilian operations of Sonae Distribution Group through its new
subsidiary, WMS Supermercados do Brasil, thus acquiring control of
the Nacional and Mercadorama supermarket chains, the leaders in the
Rio Grande do Sul and Paraná states, respectively. None of these was
rebranded. As of April 2010, Wal-Mart operates 64 Super-Bompreço
stores, 33 Hyper-Bompreço stores. It also runs 45 Wal-Mart Supercenters, 24 Sam's Club stores, and 101
Todo Dia
stores. With the acquisition of Bompreço and Sonae, Wal-Mart is currently the third largest supermarket
chain in
Brazil, behind Carrefour and Pão de Açúcar.
[71]
In June 2006, Wal-Mart was excluded from the investment portfolio of The Government Pension Fund of
Norway,
which held stock values of about US$ 430 million in the company, due to a social audit into alleged labor
rights
violations in the company's operations in the US and worldwide.
[72] [73]
Although Wal-Mart did not respond to
questions from the fund's auditors, the company later claimed the decision "don't appear to be based
on complete
information".
[74]
In November 2006, Wal-Mart announced a joint venture with Bharti Enterprises to open retail stores in
India. As
foreign corporations are not allowed to directly enter the retail sector in India, Wal-Mart will operate
through
franchises and handle the wholesale end.
[75]
The partnership will involve two joint ventures; Bharti will manage the
front end involving opening of retail outlets, while Wal-Mart will take care of the back end, such as cold
chains andWal-Mart 9
logistics.
In 2008, Wal-Mart named German retailing veteran Stephan Fanderl as the president of Wal-Mart
Emerging
Markets-East in an effort to, "explore retail business opportunities in Russia and neighboring markets."
The market is
estimated to be worth more than US$140 billion per year in food sales alone.
[76]
In January 2009, the company acquired a controlling interest in the largest grocer in Chile, Distribucion y
Servicio
D&S SA.
[77]
In February 2010, the company agreed to buy Vudu, a Silicon Valley start-up whose three-year-old
online movie
service is being built into an increasing number of televisions and Blu-ray players. Terms of the
acquisition were not
disclosed, but a person briefed on the deal said the price for the company, which raised $60 million in
capital, was
over $100 million.
[78]
On September 28, 2010, Wal-Mart announced it would buy Massmart Holdings Ltd. of Johannesburg,
South Africa
in a deal worth over $4 billion, giving the company its first stores in Africa.
[12]
Wal-Mart Canada Bank
Wal-Mart Canada launched its application for banking license in 2008 to compete with similar stores in
Canada such
as Loblaw.
[79]
On July 24, 2009, Wal-Mart Canada Bank was incorporated under the Bank Act in Canada.
[80]
On June 15, 2010, Wal-Mart officially launched into the banking sector under the name Wal-Mart
Canada Bank
(French: La Banque Wal-Mart du Canada).
[81]
As a Schedule II federal financial institution, it is regulated by the
Office of the Superintendent of Financial Institutions.
[82]
Currently, WMCB only offers a Mastercard product but
could offer more banking services in the future.
[83]
Private label brands
About 40% of products sold in Wal-Mart are private label store brands, or products offered by Wal-Mart
and
produced through contracts with manufacturers. Wal-Mart began offering private label brands in 1991
with the
launch of Sam's Choice, a brand of drinks produced by Cott Beverages exclusively for Wal-Mart. Sam's
Choice
quickly became popular, and by 1993 was the third most popular beverage brand in the United States.
[84]
Other
Wal-Mart brands include Great Value and Equate in the US and Canada, and Smart Price in Britain. A
2006 study
talked of "the magnitude of mind-share Wal-Mart appears to hold in shoppers' minds when it comes to
awareness of
private label brands and retailers."
[85]
Entertainment
In 2010, Wal-Mart teamed with Procter & Gamble to produce Secrets of the Mountain and The Jensen
Project, 2
hour family movies which featured the characters using Wal-Mart and Procter & Gamble branded
products. The
Jensen Project also featured a preview of a product to be released in several months in Wal-Mart stores.
[86] [87]
third movie, A Walk in My Shoes, will air later in 2010 and a fourth is in production.
[88]
Wal-Mart's director of
brand marketing also serves as co-chair of the Association of National Advertisers's Alliance for Family
Entertainment.
[89]Wal-Mart 10
Corporate affairs
Wal-Mart Home Office in Bentonville, Arkansas
Wal-Mart is headquartered in the Wal-Mart Home Office complex in
Bentonville, Arkansas.
[90]
Wal-Mart's business model is based on selling a wide variety of
general merchandise at "always low prices."
[48]
The company refers to
its employees as "associates". All Wal-Mart stores in the US and
Canada also have designated "greeters", who welcome shoppers at the
store entrance.
[91]
In June, 2007. Wal-Mart announced it was retiring the blue vest its 1.5
million associates wear, and replacing it with khakis and polos. The
replacement was to help Wal-Mart increase sales.
Unlike many other retailers, Wal-Mart does not charge a slotting fee to suppliers for their products to
appear in the
store.
[92]
Instead, it focuses on selling more popular products and provides incentives for store managers to drop
unpopular products, as well as asking manufacturers to supply more popular products.
[92]
On September 14, 2006, the company announced that it would phase out its layaway program, citing
declining use
and increased costs.
[93]
Layaway ceased to be offered on November 19, 2006, and required merchandise pickup by
December 8, 2006. Wal-Mart now focuses on other payment options, such as increased use of six- and
twelve-month, zero-interest financing. The layaway location in most stores is now used for Wal-Mart's
Site-To-Store
program, which was introduced in March 2007. This enables walmart.com customers to buy goods
online with a free
shipping option, and have goods shipped to the nearest store for pickup.
[94]
Financial
For the fiscal year ending January 31, 2009, Wal-Mart reported a net income of $13.6 billion
[6]
on $404 billion of
revenue
[3]
(3.4% profit margin). For the fiscal year ending January 31, 2006, Wal-Mart's international operations
accounted for about 20.1% of total sales.
[48]
Governance
Wal-Mart is governed by a fifteen-member Board of Directors, which is elected annually by

shareholders. Robson
Walton, the eldest son of founder Sam Walton, serves as Chairman of the Board. Michael T. Duke serves
as Chief
Executive Officer (CEO), and Lee Scott, formerly CEO, serves as Chairman of the Executive Committee
of the
Board. Other members of the board include Aída Álvarez, Jim Breyer, M. Michele Burns, James Cash,
Roger
Corbett, Douglas Daft, David Glass, Gregory B. Penner, Allen Questrom, Arne M. Sorenson, Jim Walton,
Christopher J. Williams, and Linda S. Wolf.
[95]
Sam Walton died in 1992. After Walton's death, Don Soderquist,
Chief Operating Officer and Senior Vice Chairman, became known as the "Keeper of the Culture."
[96] [97]
Notable former members of the board include Hillary Clinton (1985ʹ1992)
[98]
and Tom Coughlin (2003ʹ2004), the
latter having served as Vice Chairman. Clinton left the board before the 1992 U.S. Presidential Election,
and
Coughlin left in December 2005 after pleading guilty to wire fraud and tax evasion for stealing hundreds
of
thousands of dollars from Wal-Mart.
[99]
On August 11, 2006, he was sentenced to 27 months of home confinement,
five years of probation, and ordered to pay US$411,000 in restitution.
[100]Wal-Mart 11
Competition
In North America, Wal-Mart's primary competition includes department stores like Kmart, Target,
ShopKo and
Meijer, Canada's Zellers, Hart the Real Canadian Superstore and Giant Tiger, and Mexico's Comercial
Mexicana and
Soriana. Competitors of Wal-Mart's Sam's Club division are Costco, and the smaller BJ's Wholesale Club
chain
operating mainly in the eastern US. Wal-Mart's move into the grocery business in the late 1990s also set
it against
major supermarket chains in both the United States and Canada. Several smaller retailers, primarily
dollar stores,
such as Family Dollar and Dollar General, have been able to find a small niche market and compete
successfully
against Wal-Mart for home consumer sales.
[101]
In 2004, Wal-Mart responded by testing its own dollar store

concept, a subsection of some stores called "Pennies-n-Cents."
[102]
Wal-Mart also had to face fierce competition in some foreign markets. For example, in Germany it had
captured just
2% of German food market following its entry into the market in 1997 and remained "a secondary
player" behind
Aldi with a 19% share.
[103]
In July 2006, Wal-Mart announced its withdrawal from Germany. Its stores were sold to
German company Metro.
[104]
Wal-Mart continues to do well in the UK, and its Asda subsidiary is the second largest
chain after Tesco.
[105]
In May 2006, after entering the South Korean market in 1998, Wal-Mart withdrew and sold all 16 of its
South
Korean outlets to Shinsegae, a local retailer, for $882 million. Shinsegae re-branded the Wal-Marts as
E-mart
stores.
[106]
Wal-Mart struggled to export its brand elsewhere as it rigidly tried to reproduce its model overseas. In
China,
Wal-Mart hopes to succeed by adapting and doing things preferable to Chinese citizens. For example, it
found that
Chinese consumers preferred to select their own live fish and seafood; stores began displaying the meat
uncovered
and installed fish tanks, leading to higher sales.
[107]
Customer base
Street sign for Wal ý Mart Drive near Gordon,
Pennsylvania
A price of 15 cents on folders and notebooks
Each week, about 100 million customers, nearly
one-third of the U.S. population, visit Walmart's U.S.
stores.
[108]
Walmart customers give low prices as the
most important reason for shopping there, reflecting the
"Low prices, always" advertising slogan that Wal-Mart
used from 1962 until 2006.
[109]
The average US
Wal-Mart customer's income is below the national
average, and analysts recently estimated that more than
one-fifth of them lack a bank account, twice the
national rate.
[110]
A Wal-Mart financial report in 2006
also indicated that Wal-Mart customers are sensitive to
higher utility costs and gas prices.
[111]
A poll indicated
that after 2004 US Presidential Election 76% of voters

who shopped at Wal-Mart once a week voted for
George W. Bush, while only 23% supported senator
John Kerry.
[112]
When measured against other similar
retailers in the U.S., frequent Wal-Mart shoppers were
rated the most politically conservative.
[113]
In 2006, Wal-Mart took steps to expand its US
customer base, announcing a modification in its USWal-Mart 12
stores from a "one-size-fits-all" merchandising strategy to one designed to "reflect each of six
demographic groups ʹ
African-Americans, the affluent, empty-nesters, Hispanics, suburbanites and rural residents."
[114]
Around six months
later, it unveiled a new slogan: "Saving people money so they can live better lives". This reflects the
three main
groups into which Wal-Mart categorizes its 200 million customers: "brand aspirationals" (people with
low incomes
who are obsessed with names like KitchenAid), "price-sensitive affluents" (wealthier shoppers who love
deals), and
"value-price shoppers" (people who like low prices and cannot afford much more).
[109]
Wal-Mart has also made
steps to appeal to more liberal customers, for example, by rejecting the American Family Association's
recommendations and carrying the DVD Brokeback Mountain, a love story between two gay cowboys
in
Wyoming.
[115]
Economic impact
Wal-Mart is the largest corporation in the world.
[27]
Kenneth Stone, Professor of Economics at Iowa State University, in a paper published in Farm
Foundation in 1997,
found that some small towns can lose almost half of their retail trade within ten years of a Wal-Mart
store
opening.
[30]
However, he compared the changes to previous competitors small town shops have faced in the
pastͶfrom the development of the railroads and the Sears Roebuck catalog to shopping malls. He
concludes that
shop owners who adapt to the ever changing retail market can thrive after Wal-Mart comes to their
community.
[30]
subsequent study in collaboration with Mississippi State University indicated that there are "both
positive and
negative impacts on existing stores in the area where the new supercenter locates."
[31]
A June 2006 article published by the libertarian Ludwig von Mises Institute suggested that Wal-Mart has
a positive
impact on small business.
[116]
It argued that while Wal-Mart's low prices caused some existing businesses to close,
the chain also created new opportunities for other small business, and so "the process of creative
destruction
unleashed by Wal-Mart has no statistically significant impact on the overall size of the small business
sector in the
United States."
[117]
A Loyola University Chicago study which suggested that impact a Wal-Mart store has on a local
business is
correlated to its distance from that store. The leader of that study admits that this factor is stronger in
smaller towns
and doesn't apply to more urban areas saying "It'd be so tough to nail down what's up with Wal-Mart".
[118]
Another
study found Wal-Mart's entry into a new market has a profound impact on its retail competition. When
a Wal-Mart
opens in a new market, median sales drop 40% at similar high-volume stores, 17% at supermarkets and
6% at
drugstores, according to a June 2009 study by researchers at several universities and led by the Tuck
School of
Business at Dartmouth College.
[119]
For the concern of jobs, a study commissioned by Wal-Mart with consulting firm Global Insight, found
that its
stores' presence saves working families more than US$2,500 per year, while creating more than 210,000
jobs in the
U.S.
[120] [121]
Alternately the Economic Policy Institute estimates that 196,000 jobs were lost between
2001ʹ2006,
[122]
and 68% of jobs lost were manufacturing jobs. Another study by Global Insight has found that
Wal-Mart's growth between 1985 and 2004 resulted in food-at-home prices that were 9.1% lower and
overall prices
(as measured by the Consumer Price Index) that were 3.1% lower than they would otherwise have been.
[123]
Another study at the University of Missouri found that a new store increases net retail employment in
the county by
100 jobs in the short term, half of which disappear over five years as other retail establishments close.
[124]
Studies of Wal-Mart show consumers benefit from lower costs. A 2005 Washington Post story reported
that
"Wal-Mart's discounting on food alone boosts the welfare of American shoppers by at least $50 billion
per year."
[125]
A study in 2005 at Massachusetts Institute of Technology measured the effect on consumer welfare and
found that
the poorest segment of the population benefits the most from the existence of discount retailers.
[126]
A 2004 paper by
two professors at Pennsylvania State University found that U.S. counties with Wal-Mart stores suffered
increased
poverty compared with counties without Wal-Marts.
[127]
They hypothesized, to explain their results: This could be
due to the displacement of workers from higher-paid jobs in the retailers customers no longer choose to
patronize,Wal-Mart 13
Wal-Mart providing less local charity than the replaced businesses, or a shrinking pool of local leadership
and
reduced social capital due to a reduced number of local independent businesses.
[127]
Dr Raj Patel, author of Stuffed
and Starved: Markets, Power and the Hidden Battle for the World Food System, said in a lecture at the
University of
Melbourne on 18 September 2007, that a study in Nebraska looked at two different Wal-Marts, the first
of which had
just arrived and ͞was in the process of driving everyone else out of business but, to do that, they cut
their prices to
the bone, very, very low prices͟. In the other Wal-Mart, ͞they had successfully destroyed the local
economy, there
was a sort of economic crater with Wal-Mart in the middle; and, in that community, the prices were 17
per cent
higher͟.
[128]
Employee and labor relations
A protest in Utah against Wal-Mart
Labor unions, Christian organizations,
[129] [130]
and environmental
groups
[131]
have criticized Wal-Mart for its policies and/or business
practices. In particular, several labor unions blame Wal-Mart workers'
unwillingness to join their organizations on the company's anti-union
stance. Others disapprove of the corporation's extensive foreign
product sourcing, treatment of employees and product suppliers,

environmental practices, and use of public subsidies, and the impact of
stores on the local economies of towns in which they operate.
[132] [133]
[134]
In 2005, two national campaigns to criticize Wal-Mart were launched:
the (United Food and Commercial Workers) launched Wake Up Wal-Mart and The Center for
Community and
Corporate Ethics launched Wal-Mart Watch.
[135] [136]
By the end of 2005, Wal-Mart launched Working Families for
Wal-Mart, an operation managed by Wal-Mart to tell the company's side of the story. Additional efforts
to counter
criticism included a PR campaign in 2005, managed through its PR website walmartfacts.com,
[137]
as well as several
television commercials. The company retained the PR firm Edelman to respond to negative media
attention,
[138]
and
started interacting directly with bloggers by sending them news, suggesting topics for postings, and
sometimes
inviting them to visit its corporate headquarters.
[139]
Similarly, in 2010, several of Wal-Mart's opponents have hired
The Saint Consulting Group to support grass-roots campaigns against Wal-Mart. The most notable of
these include
grocery chains such as Safeway Inc., SuperValu, and Ahold, concerned that the presence of Wal-Mart
will add more
competition to their operations.
[140]
In the past, Wal-mart has been accused of locking night-shift workers in at night,
[141]
paying employees below
minimum wage, and exposing employees to health hazards.
[73]
Wal-Mart's own "Standards for Suppliers" reports
document extensive problems of this kind among the company's "directly-sourced" factories.
[142]
Full-time
Wal-Mart employees earn an average of $10.78 per hour, but critics point out that the starting pay can
be far
lower Ͷ placing some employees with children below the poverty line Ͷ and that payrates do not rise
as quickly as
with unionized companies.
[143]
Others decry low levels of health coverage or overpriced health insurance, though the
company reports that it offers rates as low as $5 per month in some areas ($9 per month nationwide)
and that 92% of
its associates are insured (though not necessarily through Wal-Mart).
[144]
Other grievances regard poor working
conditions, unfavorable employer-employee relationships, and anti-union policies. Many suggest that
Wal-Mart's
high annual turnover-rate of ~70% shows that workers are dissatisfied and maltreated.
[143]
In response, Jay Nordlinger of National Review argues that Wal-Mart is attacked simply because it is a
leader of the
Fortune 500 list or the largest employer in America, and a "free-market success story".
[145]
Penn & Teller devoted an
episode of Bullshit! to an analysis of Wal-Mart criticism as a social movement. They theorized that
despite the noble
rhetoric, the real motivation of "Wal-Mart haters" was rooted in human psychology. They suggested
that hating
Wal-Mart permits a person "to feel better about themselves" for three main reasons: They "don't run a
greedy
international conglomerate", they aren't Wal-Mart workers, widely considered "low-skilled, minimum
wage drones",Wal-Mart 14
and they aren't Wal-Mart customers thought of as "toothless, welfare-getting hillbillies".
[146]
Wal-Mart stores are
unionized in every country outside of North America.
[147]
Wal-Mart has opposed the Employee Free Choice Act (EFCA), which would make it easier for workers to
unionize
by removing the employer's ability to demand a secret ballot in union elections, and which would
require mandatory
arbitration of labor disputes. In mid-2008, the company required store managers and department heads
to attend
meetings at which opposition to the EFCA was used as a fulcrum for criticism of Democratic candidates
in the
elections for the United States Senate and the House of Representatives, as well as of the presumptive
Democratic
Presidential nominee, Senator Barack Obama. At these meetings, Wal-Mart human resources managers
warned that
Democratic victories might result in passage of the EFCA and hence more unionization. At one meeting,
a Wal-Mart
customer service supervisor from Missouri stated, "I am not telling you how to vote, but if the
Democrats win, this
bill will pass and you won't have a vote on whether you want a union.
[148]
A Wal-Mart spokesman, while
acknowledging that the meetings were taking place nationwide, said, "If anyone representing Wal-Mart
gave the
impression we were telling associates how to vote, they were wrong and acting without approval."
[148]
Several
labor-rights groups including the AFL-CIO have asked the Federal Election Commission to investigate
whether
Wal-Mart broke federal election rules by advocating against Democratic candidate Barack Obama in
meetings with
employees.
[149]
According to a Newsweek article, Wal-Mart, after years of fierce fighting, accepted organized labor in
China. Labor
unions in China do not negotiate contracts, but rather they are an arm of the state "to secure the social
order" and
provide funding to the Communist Party.
[150]
Gender and sexual orientation
Wal-Mart is currently facing a gender discrimination lawsuit, Dukes v. Wal-Mart Stores, Inc., which
alleges that
female employees were discriminated against in matters regarding pay and promotions. If the class
action is
certified, it would be the largest such lawsuit in history, covering 1.5 million women according to the
plaintiffs.
[151]
A December 2007 United States Court of Appeals for the Ninth Circuit 2ʹ1 ruling
[152]
affirming the class
certification was vacated by the court for en banc review;
[153] [154]
in a 6ʹ5 decision, the appeals court affirmed in
part and remanded in part the district court's order regarding class certification.
[155]
In December 2010, the United
States Supreme Court granted certiorari with regard to whether the case may proceed as a class action.
[156] [157]
The
courts have not yet reached the merits of the underlying dispute.
[155]
According to a consultant hired by plaintiffs in
a sex discrimination lawsuit, in 2001, Wal-Mart's EEOC filings showed that female employees made up
65% of
Wal-Mart's hourly paid workforce, but only 33% of its management.
[158] [159]
Just 35% of its store managers were
women, whereas 57% were at comparable retailers.
[159]
Wal-Mart says comparisons with other retailers are unfair,

because it classifies employees differently; if department managers were included in the totals, women
would make
up 60% of the managerial ranks.
[159]
Others have criticized the lawsuit as without basis in the law and as an abuse of
the class action mechanism.
[160] [161] [162]
In 2007, Wal-Mart was named by the National Association for Female
Executives as one of the top 35 companies for Executive Women.
[163]
Wal-Mart's rating on the Human Rights Campaign's Corporate Equality Index, a measure of how
companies treat
LGBT employees and customers, has fluctuated widely during the past decade, from a low of 14% (2002)
to 65%
(2006). They were praised for expanding their antidiscrimination policy protecting gay and lesbian
employees,
[164]
as well as for a new definition of "family" that included same-sex partners.
[165] [166]
However, they have been
criticized in other areas, such as not renewing its membership in the National Gay and Lesbian Chamber
of
Commerce, which is reflected in their 2008 rating of 40% (compared to Target at 80% and Kmart at
100%).
[167]
In January 2006, Wal-Mart announced that "diversity efforts include new groups of minority, female and
gay
employees that meet at Wal-Mart headquarters in Bentonville to advise the company on marketing and
internal
promotion. There are seven Business Resource Groups: women, African-Americans, Hispanics, Asians,
Native
Americans, Gays and Lesbians, and a disabled group."
[168]Wal-Mart 15
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Women" by the National Association for Female Executives". Arkansas Business.
[164] Kershaw, Sarah. " Wal-Mart Sets a New Policy That Protects Gay Workers
(http://www.hrc.org/Content/ContentGroups/News3/
20037/Wal-Mart_Sets_a_New_Policy_That_Protects_Gay_Workers.htm)." The New York Times. July 1,

2003. Retrieved on October 1,
2006.
[165] " HRC Applauds Wal-Mart's Inclusive Family Policy

(http://www.hrc.org/Template.cfm?Section=Press_Room&
CONTENTID=24994&TEMPLATE=/ContentManagement/ContentDisplay.cfm)" (press release). Human

Rights Campaign. January 27,
2005. Retrieved on October 1, 2006.
[166] " Corporate Equality Index

(http://www.hrc.org/Template.cfm?Section=Get_Informed2&Template=/ContentManagement/
ContentDisplay.cfm&ContentID=33909)." Human Rights Campaign (http://www.hrc.org/). 2006.

Retrieved on November 2, 2006.
[167] DiGuglielmo, Joey. " Wal-Mart Sets Record with HRC Ratings Plunge
(http://washblade.com/thelatest/thelatest.cfm?blog_id=15438)."
Washington Blade. November 28, 2007. Retrieved on December 3, 2007.
[168] Kabel, Marcus. " Wal-Mart CEO Expects Record Profits

(http://www.findarticles.com/p/articles/mi_qn4188/is_20060105/
ai_n15996562)." Deseret News. January 5, 2006. Retrieved on December 1, 2006.
Further reading
ͻ Charles Fishman. The Wal-Mart Effect: How the World's Most Powerful Company Really Works--and
How It's
Transforming the American Economy (2006)

ͻ Paul Ingram, Lori Qingyuan Yue, and Hayagreeva Rao. "Trouble in Store: Probes, Protests, and Store
Openings
by Wal-Mart, 1998ʹ2007," American Journal of Sociology July 2010, Vol. 116, No. 1: pp 53ʹ92.
ͻ Nelson Lichtenstein. The Retail Revolution: How Wal-Mart Created a Brave New World of Business
(2009)
ͻ Sandra Stringer Vance and Roy V. Scott. Wal-Mart: A History of Sam Walton's Retail Phenomenon
(Twayne's
Evolution of Modern Business Series) (1997), academic study
External links
ͻ Official E-Commerce Website (http://www.walmart.com/)
ͻ Watching the Growth of Wal-Mart Across America (http://projects.flowingdata.com/walmart/)
ͻ Lobbying and campaign contributions

(http://www.opensecrets.org/orgs/summary.php?id=D000000367) at
OpenSecrets.orgArticle Sources and Contributors 21
Article Sources and Contributors
Wal-Mart Source: http://en.wikipedia.org/w/index.php?oldid=415372952 Contributors: (aeropagitica),

(jarbarf), *Mystic*, *drew, 0, 10.165, 134.132.11.xxx, 168-99-171-233-on-wheels,
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Wal-Mart 1

Wal-Mart Stores, Inc.

Public (NYSE: WMT

Dow Jones Industrial Average Component

Founded Rogers, Arkansas, U.S. (1962)

Founder(s) Sam Walton

Bentonville, Arkansas, U.S.

Area served Worldwide

Key people Mike Duke (CEO)

H. Lee Scott (Chairman of the Executive Committee of the

S. Robson Walton (Chairman)

Products Discount Stores

US$408.21 billion (2009)

US$ 23.95 billion (2009)

US$ 14.33 billion (2009)

US$ 170.70 billion (2009)

US$ 70.74 billion (2009)

approx. 2,100,000 (2009)

2000 for that year.

largest majority private employer

of its US$258 billion sales in the U.S. from grocery business.

It also owns and operates the Sam's Club retail

warehouses in North America.

Wal-Mart has 8,500 stores in 15 countries, with 55 different names.

The company operates under its own name in

store in Bentonville, Arkansas, now serving as

the Wal-Mart Visitor's Center

Sam Walton, a businessman from Arkansas, began his retail career

when he started work on June 3, 1940, at a J. C. Penney store in Des

Moines, Iowa where he remained for 18 months. In 1945, he met

Butler Brothers, a regional retailer that owned a chain of variety stores

Walton was extremely successful in running the store in Newport, far

However, when the lease came up for

renewal, Walton could neither come to agreement on the existing

store's lease renewal nor find a new location in Newport. Instead, he

opened a new Ben Franklin franchise in Bentonville, Arkansas, but

called it "Walton's Five and Dime." There, he achieved higher sales

volume by marking up slightly less than most competitors.

expanded to 24 stores across Arkansas and reached $12.6 million in sales.

In 1968, it opened its first stores

Incorporation and growth

total sales of $340.3 million.

Logo used from 1992-2008 (2001-2009 in

Canada, 1992-2009 in Mexico, although Mexico

used the current logo in December 2008). It is

still used in Mainland China. Still seen on many

American locations, even though a majority of

Canadian locations have this logo rather than the

1994-2001 Wal-Mart Canada logo with a hyphen.

In the 1980s, Walmart continued to grow rapidly, and by its 25th

This year also marked the completion of the

company's satellite network, a $24 million investment linking all

voice and data transmission and one-way video communication. At the

office to track inventory and sales and to instantly communicate to

In 1988, Sam Walton stepped down as CEO and was

replaced by David Glass.

people in senior positions.Wal-Mart 3

Inside a Walmart Supercenter in West Plains,

In 1988, the first Walmart Supercenter opened in Washington,

Thanks to its superstores, it surpassed Toys "R" Us in toy

sales in the late 1990s.

The company also opened overseas stores,

entering South America in 1995 with stores in Argentina and Brazil;