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Current Trends in Management

Current Trends in Management

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Published by raghavmehra

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Published by: raghavmehra on Feb 23, 2010
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Submitted By –
Raghav MehraI-B, 2315
Feb 2010
 US$404.16 Billion (2009)Employeesapprox. 2,100,000 (2008)Websitewww.walmartstores.com www.walmart.com Wal-Mart Stores, Inc. (branded as Walmart) is an Americanpublic corporation that runs a chain of large, discount department stores. It is the world's largestpublic corporation by revenue, according to the 2008Fortune Global 500. Thecompany was founded bySam Waltonin 1962,incorporatedon October 31, 1969, and listed on theNew York Stock Exchangein 1972. Wal-Mart is thelargest private employer[5]and the largestgrocery retailerin theUnited States. It also owns and operates theSam's Club retail warehousesinNorth America. Walmart operates inMexicoasWalmex, in theUnited KingdomasAsda, in Japan  asSeiyu, and inIndiaasBest Price. It has wholly-owned operations inArgentina,
Brazil,Canada, andPuerto Rico. Wal-Mart's investments outside North America have had mixed results: its operations in theUnited Kingdom,South Americaand Chinaare highly successful, while it was forced to pull out of GermanyandSouth Koreawhen ventures there were unsuccessful.
Sam Walton, a businessman from Arkansas, began his retail career when hestarted work on June 3, 1940, at a J.C. Penneystore inDes Moines, Iowawhere he remained for 18 months. In 1945, he metButler Brothers, a regionalretailer  that owned a chain of variety storescalledBen Franklinand that offered him one inNewport, Arkansas.Walton was extremely successful in running the store in Newport, far exceedingexpectations. However, when the lease came up for renewal, Walton couldneither come to agreement on the existing store's lease renewal nor find a newlocation in Newport. Instead, he opened a new Ben Franklin franchise inBentonville, Arkansas, but called it "Walton's Five and Dime." There, he achievedhigher sales volume by marking up slightly less than most competitors.On July 2, 1962, Walton opened the first Wal-Mart Discount City store located at719 Walnut Ave. inRogers, Arkansas. The building is now occupied by ahardware store and a pawn shop. Within five years, the company expanded to 24stores acrossArkansasand reached $12.6 million in sales. In 1968, it opened itsfirst stores outside Arkansas, inSikeston, MissouriandClaremore, Oklahoma.
Incorporation and growth
 The company wasincorporatedas Wal-Mart Stores, Inc. on October 31, 1969. In1970, it opened its home office and first distribution center inBentonville,Arkansas. It had 38 stores operating with 1,500 employees and sales of $44.2million. It began trading stock as apublicly held companyon October 1, 1970,and was soon listed on theNew York Stock Exchange. The firststock split  occurred in May 1971 at a market price of $47. By this time, Wal-Mart wasoperating in five states: Arkansas, Kansas, Louisiana, Missouri, and Oklahoma; it

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