Walmart Inc is an American retail corporation that operates several hypermarkets, grocery stores, and department stores. Walmart has its headquarters in Bentonville, Arkansas. The company was founded in 1962 by Sam Walton and incorporated in October 1969. As of September 2019, Walmart operated 11,390 stores and clubs in 27 countries. The company operates as Walmart in Canada and the US, Walmart de México y Centroamérica in Latin America, Asda in the UK, and Seiyu in Japan. It also operates in India, Argentina, South Africa, and Chile. Walmart is the largest company by revenue and the world’s largest employer, with over 2.2 million employees. The Walton family owns 50% of the company while the rest is publicly traded. The company listed on the NYSE in 1972, and by 1988 it was the most profitable retailer in the country. It was initially limited to the South and the Lower Midwest, but by the early 1990s, it had stores across the country. Though the company and its subsidiaries have thrived in the United States, United Kingdom, China, and Central and South America, it failed in South Korea and Germany.
Incorporation And Growth
Walmart opened its first headquarters and distribution center in Bentonville, Arkansas, in 1970. It operated 38 stores with about 1,500 employees and $44.2 million in sales. It began trading stocks in October 1970 and listed on the NYSE thereafter. By May 1971, the retailer was operating in Arkansas, Kansas, Missouri, Louisiana, and Oklahoma. Walmart proliferated in the 1980s, and by 1987, it operated more than 1,100 stores and generated sales of over $15.9 billion. In 1991, Walmart and Mexican retail, Cifra, opened Sam’s Club in Mexico City, marking the first venture outside the US.
Walmart has its headquarters at the Walmart Home Office Complex in Bentonville, Arkansas. The retailer’s model is based on selling products at low prices. The company’s employees are known as associates, while all stores in Canada and the United States have designated “greeters” to welcome customers at the entrance. All Walmart employees wear uniforms to distinguish them from customers and make them easily identifiable to those requiring help. Walmart also allows customers to purchase goods online with an option to ship free. In September 2017, the retailer announced that it would construct a new headquarters in Bentonville to replace the current building that was built in 1971.
Bentonville is the seat of Benton County and the 9th largest city in Arkansas. It is home to the headquarters of Walmart Inc. It is a city of approximately 50,000 people. The retailer dominates the economy of the city as it has attracted over 1,200 vendors who have established regional sales offices within the metropolis. In 2017, Livability ranked Bentonville the best city for entrepreneurs in the United States.