On July 2, 1962, Sam Walton opened the first Walmart discount store in Rogers, Arkansas. Walmart is in the discount store industry and its principal competitors are Kmart, Target, ShopKo, and Meijer. Walmart’s culture has been built on a common purpose: saving people money so they can live better. By 1967, Walton had opened 24 stores and had generated $12.7 in sales. The company was officially incorporated as Walmart Stores, Inc. in 1969, and became publicly traded on the New York Stock Exchange in 1972. In 1983, the first Sam’s Club membership warehouse was opened and in 1988 opened the first Walmart supercenter, which features a complete grocery department in addition to general merchandise, was opened. Walmart’s board of directors is led by Chairman Rob Walton. In 2009, Mike Duke became the company’s fourth president and CEO. The current Chief Financial Officer is Charles M. Holley, Jr. Today Walmart has three main operating divisions, which are Walmart U.S., Walmart International, and Sam’s Club. In the U.S., Walmart operates more than 4,400 retail facilities, including Walmart stores and Sam’s Club warehouses. In 1991, Walmart International was established when Sam’s Club opened in Mexico City. Walmart International operates more than 5,600 retail units in 26 countries outside the U.S. These international stores have different styles and formats to fit in with local customer needs and customs. Over the years, Walmart has paid over $101 Billion to shareholders through dividends and stock repurchases. In fiscal year 2012, Walmart paid dividends on common stock at $1.46 per share. Walmart has 11,000 shares of common stock authorized but only has 3,418 shares issued and outstanding, and has 100 shares of preferred stock authorized but no shares of preferred stock have been issued.
Sales and Net Income
Walmart’s net sales were more than $443 billion for fiscal year 2012, over $418...