Wal-Mart History, Facts and Trivia | Brand History
Wal-Mart History: Wal-Mart is an American public multinational corporation that runs chains of large discount department stores and warehouse stores.
Founder: It was started by Sam Walton in 1962. Sam Walton was ranked the richest person in USA from 1982-88.
TICKER: NYSE – WMT
Tagline: “Always low prices” [from 1962-2007] “Save Money. Live Better.” [2007- Present]
Wal-Mart started as Walton’s Five and Dime Store which was a Ben Franklin franchise in 1954. Sam Walton operated it on a principle of greater sales volume at profits slightly lower than the competition.
The first Wal-Mart Discount store began in July 1962, and there has been no looking back ever since.
Wal-Mart currently operates 8,500 stores in 15 countries, under 55 different names such as SEIYU in Japan, Best Price in India, Walmex in Mexico and Asda in UK.
Wal-Mart History Trivia:
– Wal-Mart is the largest employer in the world, with the estimated number of employees being close to 2.1 million.
– It first featured on the Fortune 500 list as America’s largest corporation in 2002 and continues to be featured on the first spot every year (except in 2006, when it was replaced by Exxon Mobil).
– If Wal-Mart is treated as a separate nation, it would be the 23rd largest economy in the world with revenue of approx. $405 billion in 2010.
– Wal-Mart’s low price business principle is termed as ‘creative destruction’, as it closes down small local businesses, but also creates many job opportunities. Wal-Mart has also been criticized for its anti-union stance and several cases of gender biasing.
– According to a study, Wal-Mart discounts benefit consumers in the USA by adding almost $50 billion in savings.
– Wal-Mart has a policy of not carrying any violent, sexually provocative or objectionable materials in their stores (though it sells cigarettes & guns!) and made many musicians repackage their albums. These ‘cleaner’ editions of music albums are also referred to as ‘Wal-Mart editions’.
– If Walmart’s more than 8,500 stores were put in one place, they would take up more than 32 square miles.
– Each week nearly one-third of the U.S. population visits Walmart’s U.S. stores.
– In 2000, Walmart was sued 4,851 times.
– Walmart parking lots alone combined will take up roughly the size of Tampa, Florida.
– Wal Mart now averages a “profit” (not sales) of $36 billion per year.
Wal-Mart History & Trivia.