Wal-Mart Stores, Inc. (also spelled Walmart) is an American public corporation that runs a chain of large, discount department stores. It is the world's largest public corporation by revenue, according to the 2008 Fortune Global 500. A leader in sustainability, corporate philanthropy and employment opportunity, Wal-Mart ranked first among retailers in Fortune Magazine’s 2009 Most Admired Companies survey.
The headquarters of Wal-Mart is located in Bentonville, Arkansas, U.S.A. Currently the company operates in fourteen countries: Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, United States and the United Kingdom. Although Wal-Mart linked a joint venture with India-based “Bharti Express”, it could not enter the market directly. This is because of the regulations pertaining to foreign direct investment only allow single brand retailers such as Nike or Gucci to own 51% of their business operations in India. Wal-Mart is known by different names in some of the countries where it countries operates. It operates in Mexico as Walmex, in the UK as Asda, and in Japan as Seiyu. It has wholly owned operations in Argentina, Brazil, Canada, and Puerto Rico. Wal-Mart's investments outside North America have had mixed results: its operations in South America and China are highly successful, while it was forced to pull out of Germany and South Korea when ventures there were unsuccessful.
The history of Wal-Mart’s innovation, leadership and success began in 1962, when Sam Walton opened the company’s first discount store in Rogers, Arkansas. Soon Wal-Mart began to be is considered as an industry trendsetter. In 1967, there were 24 Wal-Mart stores in Arkansas ringing up $12.6 million in sales. 1968 saw the hiring of Wal-Mart Aviation’s first full-pilot, who provided help to Sam and Bud Walton, as well as the opening of the first stores outside of Arkansas, in Sikeston, Mo., and...