Where Did Wal-Mart Get It's Start?

 

Walmart Inc., headquartered in Bentonville, Arkansas, is an American multinational retail firm that operates a chain of hypermarkets (also known as super centers), cheap department stores, and grocery stores throughout the United States. Sam Walton launched the corporation in neighboring Rogers, Arkansas in 1962, and it was incorporated on October 31, 1969, under the Delaware General Corporation Law. Sam's Club retail warehouses are also owned and operated by the company. Walmart had 10,524 stores and clubs in 24 countries as of July 31, 2021, operating under 48 distinct names. In the United States and Canada, the corporation is known as Walmart, whereas in Mexico and Central America, it is known as Walmart de México y Centroamérica and in India, it is known as Flipkart Wholesale. Chile, Canada, and South Africa are all completely owned subsidiaries. Since August 2018, Walmart has held only a minority part in Walmart Brazil, which was rebranded Grupo Big in August 2019, with private equity firm Advent International owning the other 80% of the company's shares.

According to the Fortune Global 500 list for 2020, Walmart is the world's largest company by revenue, with $548.743 billion. With 2.2 million employees, it is also the world's largest private employer. The Walton family controls the corporation, hence it is a publicly traded family-owned enterprise. Through their holding company Walton Enterprises and their individual assets, Sam Walton's heirs own over 50% of Walmart. Walmart was the leading grocery retailer in the United States in 2019, with US operations accounting for 65 percent of Walmart's total sales of US$510.329 billion.

On July 2, 1962, Walton opened the first Wal-Mart Discount City store at 719 W. Walnut Street in Rogers, Arkansas. Its design was inspired by Ann & Hope, which Walton visited in 1961, as did Kmart founder Harry B. Cunningham. The building is now occupied by a hardware store and an antiques mall, while the company's "Store #1" has since expanded to a Super center several blocks west at 2110 W. Walnut Street. Within its first five years, the company expanded to 18 stores in Arkansas and reached $9 million in sales. In 1968, it opened its first stores outside Arkansas in Sikeston, Missouri and Claremore, Oklahoma.