Wal-Mart

Wal-Mart Stores, Inc. {{nyse|WMT}}, founded by Sam Walton in 1962, is the largest retailer and the largest company in the world based on revenue. For the fiscal year ending January 31, 2005, Wal-Mart reported net income of US $10.3 billion on US $285 billion of sales revenue (3.6% profit margin). If Wal-Mart were its own economy, it would rank 33rd in the world, with a GDP between those of Ukraine and Colombia. It is the largest private employer in the United States, Mexico and Canada. It holds an 8.9 percent retail store market share— $8.90 out of every $100 spent in U.S. retail stores is spent at Wal-Mart.

History

• 1962 First Wal-Mart store opens in Rogers, Arkansas
• 1969 The company incorporates as Wal-Mart Stores, Inc. on October 31, 1969.
• 1972 Wal-Mart listed on the New York Stock Exchange.
• 1983 First Sam's Club opens in Midwest City, Oklahoma.
• 1987 Wal-Mart completes largest private satellite communication system in the U.S.
• 1988 First Supercenter opens in Washington, Missouri.
• 1990 Wal-Mart becomes nation's largest retailer.
• 1991 The first store outside of the U.S. opens, in Mexico City.
• 1994 Wal-Mart acquires 122 Woolco stores in Canada.
• 1996 Wal-Mart enters China through a joint-venture agreement.
• 1997 Wal-Mart replaces Woolworth on the Dow Jones Industrial Average. Woolworth's Square One Shopping Centre location in Canada becomes the chain's biggest store, at 220,000 square feet (20,000 m²).
• 1997 Wal-Mart becomes largest private employer in the United States, with 680,000 employees worldwide.
• 1997 Wal-Mart has its first $100 billion sales year.
• 1999 Wal-Mart has 1,140,000 employees, making it the largest private employer in the world. It acquires the ASDA Group with 229 stores in the United Kingdom.
• 2003 Wal-Mart sets a single-day sales record of $1.52 billion on Black Friday.
• 2004 Wal-Mart buys the Amigo supermarket chain in Puerto Rico for $17 million.
• 2004 Wal-Mart employees in Jonquière, Quebec, Canada vote in favor of becoming the first unionized Wal-Mart in North America. Five months later, Wal-Mart announces that it would close the store due to poor sales.
• 2005 The Center for Community & Corporate Ethics launches http://walmartwatch.com to encourage Walmart to have more corporate responsibility.
• 2005 Wal-Mart launches http://www.walmartfacts.com in a public relations effort to counter critics.
• 2005 Wal-Mart seeks to expand to urban markets, most notably New York City, Chicago, and Los Angeles.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

~ ~ ~ ~ ~ ~ ~ ~ ~ ~