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Walmart

The meaning of «walmart»

Walmart Inc. ( /ˈwɔːlmɑːrt/; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquartered in Bentonville, Arkansas.[9] The company was founded by Sam Walton in nearby Rogers, Arkansas in 1962 and incorporated under Delaware General Corporation Law on October 31, 1969. It also owns and operates Sam's Club retail warehouses.[10][11] As of July 31, 2021,[update] Walmart has 10,524 stores and clubs in 24 countries, operating under 48 different names.[2][3][12] The company operates under the name Walmart in the United States and Canada, as Walmart de México y Centroamérica in Mexico and Central America, and as Flipkart Wholesale in India. It has wholly owned operations in Chile, Canada, and South Africa. Since August 2018, Walmart holds only a minority stake in Walmart Brasil, which was renamed Grupo Big in August 2019, with 20 percent of the company's shares, and private equity firm Advent International holding 80 percent ownership of the company.

Walmart is the world's largest company by revenue, with US$548.743 billion, according to the Fortune Global 500 list in 2020. It is also the largest private employer in the world with 2.2 million employees. It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.[13] Walmart was the largest United States grocery retailer in 2019, and 65 percent of Walmart's US$510.329 billion sales came from U.S. operations.[14][15]

Walmart was listed on the New York Stock Exchange in 1972. By 1988, it was the most profitable retailer in the U.S.,[16] and it had become the largest in terms of revenue by October 1989.[17] The company was originally geographically limited to the South and lower Midwest, but it had stores from coast to coast by the early 1990s. Sam's Club opened in New Jersey in November 1989, and the first California outlet opened in Lancaster, in July 1990. A Walmart in York, Pennsylvania, opened in October 1990, the first main store in the Northeast.[18]

Walmart's investments outside the U.S. have seen mixed results. Its operations and subsidiaries in Canada, the United Kingdom, Central America, South America, and China are successful, but its ventures failed in Germany, Japan, and South Korea.[citation needed]

In 1945, businessman and former J. C. Penney employee Sam Walton bought a branch of the Ben Franklin stores from the Butler Brothers.[19] His primary focus was selling products at low prices to get higher-volume sales at a lower profit margin, portraying it as a crusade for the consumer. He experienced setbacks because the lease price and branch purchase were unusually high, but he was able to find lower-cost suppliers than those used by other stores and was consequently able to undercut his competitors on pricing.[20] Sales increased 45 percent in his first year of ownership to US$105,000 in revenue, which increased to $140,000 the next year and $175,000 the year after that. Within the fifth year, the store was generating $250,000 in revenue. The lease then expired for the location and Walton was unable to reach an agreement for renewal, so he opened up a new store at 105 N. Main Street in Bentonville, naming it "Walton's Five and Dime".[20][21] That store is now the Walmart Museum.[22]

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