The Walmart story began in 1962, when Sam Walton, our founder opened the company’s first discount store in Rogers, Ark. 1968 saw the hiring of Walmart Aviation’s first full-time 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 Claremore, Okla. The company officially incorporated as Wal-Mart Stores Inc. on October 31, 1969.
The 1970s marked the beginning of significant growth for the company. The first year of that decade saw the opening of the first Walmart distribution center, as well as the Walmart Home Office, in Bentonville. Ark. At that point, Walmart employed 1,500 associates (employees) working in 38 stores, with sales of $44.2 million. Walmart also began selling shares over the counter as a publicly-held company in 1970.
First discount store in Rogers, Ark.
In May 1971, Walmart stock experienced its first 100 percent split, at a market price of $47. At that time, the company operated in five states: Arkansas, Kansas, Louisiana, Missouri and Oklahoma. In 1972, after being approved and listed on the New York Stock Exchange, Walmart stock split 100 percent for a second time, with a market price of $47.50. The company then expanded into three more states, entering Tennessee in 1973 and Kentucky and Mississippi in 1974.
Walmart's first distribution center, Bentonville, Ark.
By the middle of the decade, Walmart employed more than 7,500 associates in 125 stores with sales of $340.3 million, and in 1975 entered into the state of Texas. Walmart stock split for the third time in August of that year, with a market price of $24, and the company made its first acquisition, taking control of 16 Mohr-Value stores in Michigan and Illinois. 1975 was also the year that Sam Walton, inspired by workers he encountered during a visit to Korea, conceived of the famous “Walmart Cheer” and introduced it to his associates. Walmart began... [continues]
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