Wal-Mart: An Epic Idea
“Save Money, Live Better.” A greeter welcomes you into the phenomenal discount store we Americans call Wal-Mart. A one stop shop for just about anything and everything you need, Wal-Mart is a major investment to America: 1) Wal-Mart is one of Americas most leading discount stores 2) Wal-Mart employs many people 3) Wal-Mart sells its products for a lower price, making it more favorable to consumers. In 1962, the first Wal-Mart was founded in Rogers, Arkansas. Its growth and succession has lead to its spread around the world. One man, one vision; Sam Walton’s mission was to save people money to help them live a better quality lifestyle. With its earnings and its improvements, Wal-Mart has played a major role in America’s economy. The first Wal-Mart was found in 1962. The year the birth of discount retailing began. The chain of variety stores that Sam Walton owned during the 1950’s faced stiff competition from the many regional discount stores. Before the opening of Wal-Mart, Mr. Walton traveled the country studying just about everything about discount retailing. He noticed that American consumers wanted a fresh new type of store. Acting on instinct, Sam and his wife Helen invested about 95 percent of their income into their first Wal-Mart store in Rogers, Arkansas. In 1972, many other discounters expanded, yet Wal-Mart only opened 15 stores. Later, Wal-Mart stock was offered to the New York Stock Exchange. With the infusion of capital, the company then grew to 216 stores in 11 states by the end of the decade. By the year of 1981, there were 1402 Wal-Mart stores. Employment had increased tenfold; sales had grown from 1 billion in 1980, to 26 billion. Today, 8416 stores and club locations have been opened. Wal-Mart employs more than 2.1 million associates, serving more than 176 million customers a year. Wal-Mart is a perfect example of how to manage growth without losing sight of your values. America’s most popular discount store, Wally’s...
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