The Road to Walmart how become a leading retailer as well as buyer in the world.

The Road to Walmart

Sam Walton was born in 1918 in Kingfisher, Oklahoma. In 1942, at the age of 24, he joined the military. He married Helen Robson in 1943. When his military service ended in 1945, Sam and Helen moved to Iowa and then to Newport, Arkansas. During this time, Sam gained early retail experience, eventually operating his own variety store.

In 1950, the Waltons left Newport for Bentonville, where Sam opened Walton’s 5&10 on the downtown square. They chose Bentonville because Helen wanted small-town living, and Sam could take advantage of the different hunting seasons that living at the corner of four states had to offer.

Inspired by the early success of his dime store, and driven to bring even greater opportunity and value to his customers, Sam opened the first Walmart in 1962 at the age of 44 in Rogers, Arkansas.

Changing the Face of Retail

Sam’s competitors thought his idea that a successful business could be built around offering lower prices and great service would never work. As it turned out, the company’s success exceeded even Sam’s expectations. The company went public in 1970, and the proceeds financed a steady expansion of the business. 

Sam credited the rapid growth of Walmart not just to the low costs that attracted his customers, but also to his associates. He relied on them to give customers the great shopping experience that would keep them coming back. Sam shared his vision for the company with associates in a way that was nearly unheard of in the industry. He made them partners in the success of the company, and firmly believed that this partnership was what made Walmart great.

As the stores grew, so did Sam’s aspirations. In addition to bringing new approaches and technologies to retail, he also experimented with new store formats—including Sam’s Club and the Walmart Supercenter—and even made the decision to take Walmart into Mexico. Sam’s fearlessness in offering lower prices and bringing Walmart’s value to customers in the U.S. and beyond set a standard for the company that lives on to this day. His strong commitment to service and to the values that help individuals, businesses and the country succeed earned him the Presidential Medal of Freedom, awarded by President George H. W. Bush in 1992.

It was during Sam’s acceptance remarks that he articulated what would come to be Walmart’s official company purpose.

“If we work together,” he said, “we’ll lower the cost of living for everyone…we’ll give the world an opportunity to see what it’s like to save and have a better life.”

Today, “saving people money so they can live better” is the driving force behind everything we do.

Experience Walmart’s History

Walmart’s history is more than just the stores we’ve built, the partnerships we’ve made and the customers we’ve served. So much of our history is in the details. See how Walmart began, how we grew and how our leadership has changed the retail industry.

1960s

Retail Revolution
Sam Walton’s strategy was built on an unshakeable foundation: The Lowest Prices Anytime, Anywhere.

1962
On July 2, 1962, Sam Walton opened the first Walmart store in Rogers, Ark.

1967
The Walton family owned 24 stores, ringing up $12.7 million in sales.

1969
The company officially incorporated as Wal-Mart Stores, Inc.
1970s

Walmart Goes National
In the 1970s, a decade of incredible growth, “Mr. Sam” began to take Walmart national, proving his vision’s widespread appeal.

1970
Walmart became a publicly traded company. The first stock was sold at $16.50 per share.

1971
The first distribution center and Home Office opened in Bentonville, Ark.

1972
Walmart was listed on the New York Stock Exchange (WMT).

With 51 stores, Walmart recorded sales of $78 million.

1975
Inspired by a visit to a Korean manufacturing facility, Sam Walton introduced the Walmart cheer.

1979 
The Walmart Foundation was established.

 1980s

Decade of Firsts
In the 1980s, the first Sam’s Club opened, serving small businesses and individuals, and the first Walmart Supercenter opened, combining a supermarket with general merchandise.

 1980

Walmart reached $1 billion in annual sales, faster than any other company at that time.

Walmart had 276 stores and employed 21,000 associates.

1983
The first Sam’s Club opened in Midwest City, Okla.

Walmart replaced cash registers with computerized point-of-sale systems, enabling fast and accurate checkout.

1984 
Sam Walton did the hula on Wall Street, making good on a promise to associates after the company achieved a pre-tax profit of 8% for the previous fiscal year.

1987
The company installed the largest private satellite communication system in the U.S., linking the company’s operations through voice, data and video communication.

1988
The first Walmart Supercenter opened in Washington, Mo., combining general merchandise and a full-scale supermarket to provide one-stop shopping convenience.

David Glass was named CEO.

1990s

America’s Top Retailer
By 1990, Walmart was the nation’s number-one retailer. As the Walmart Supercenter redefined convenience and one-stop shopping, Every Day Low Prices went international.

1991

Through a joint venture with Cifra, a Mexican retail company, Walmart went global, opening a Sam’s Club in Mexico City.

1992
While receiving the Medal of Freedom, Sam Walton articulated the company’s mission of saving people money so they can live better, shortly before passing away at age 74.

Rob Walton became chairman of the board.

Walmart employed 371,000 associates in 1,928 stores and clubs.

1993
Walmart celebrated its first $1 billion sales week.

1994
Walmart expanded into Canada with the purchase of 122 Woolco stores.

1996
Walmart opened its first stores in China.

1997
The company celebrated its first $100 billion sales year.

1998
The Neighborhood Market format was introduced with three stores in Arkansas.

1999
Walmart entered the United Kingdom with the acquisition of ASDA.

 2000s

New Millennium
Walmart entered the new millennium dedicated to offering customers a seamless shopping experience, whether they are online, in a store or on a mobile device.

2000
H. Lee Scott, Jr. succeeded David Glass as CEO.

Walmart.com was founded, allowing U.S. customers to shop online.

Walmart employed more than 1.1 million associates in 3,989 stores and clubs worldwide.

2002 
For the first time, Walmart topped the Fortune 500 ranking of America’s largest companies.

Walmart entered the Japanese market through its investment in Seiyu.

2005
Walmart took a leading role in disaster relief, contributing $18 million and 2,450 truckloads of supplies to victims of hurricanes Katrina and Rita.

Walmart made a major commitment to environmental sustainability, announcing goals to create zero waste, use only renewable energy and sell products that sustain people and the environment.

2006 
Walmart introduced its $4 generic-drug prescription program.

2007 
Walmart.com launched Site to Store service, enabling customers to make a purchase online and pick up merchandise in stores.

2009 
Mike Duke became CEO.

Walmart entered Chile with the acquisition of a majority stake in D&S S.A.

For the first time, Walmart exceeded $400 billion in annual sales.

2010 
Bharti Walmart, a joint venture, opened its first store in India.

Walmart committed $2 billion through the end of 2015 to help end hunger in the United States.

Walmart launched a global commitment to sustainable agriculture, aiming to strengthen local farmers and economies, while providing customers access to affordable, high-quality food.

2011 
With the acquisition of MassMart in South Africa, Walmart surpassed 10,000 retail units around the world.

The first Walmart Express stores were introduced in Arkansas.

Walmart established @walmartlabs, a hub for developing social, mobile and global platforms.

2012 
Walmart celebrated 50 years of helping people save money so they can live better.

2014

Doug McMillon succeeded Mike Duke as CEO.

The company employs 2.2 million associates worldwide and serves more than 200 million customers each week at more than 11,000 stores in 27 countries.

 

Source by: Walmart web

Facebook0Google+0LinkedIn0Twitter0Email
(Visited 73 times, 14 visits today)

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *


8 − four =

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>