Sam Walton

What is the company Walmart?

Walmart as we know it today evolved from Sam Walton’s goals for great value and
great customer service. “Mr. Sam,” as he was known, believed in leadership through
service. This belief that true leadership depends on willing service was the principle
on which Walmart was built, and drove the decisions the company has made for the
past 50 years. So much of Walmart’s history is tied to the story of Sam Walton
himself, and so much of our future will be rooted in Mr. Sam’s principles.

The Road to Walmart want to talk about founder S.Walton

About Sam Walton!

Sam Walton was born in 1918 in Kingfisher, Oklahoma. In 1942, at the age of 24, he
joined the military. He married Helen Robson in 1943. When his military service
ended in 1945, Sam and Helen moved to Iowa and then to Newport, Arkansas. During
this time, Sam gained early retail experience, eventually operating his own variety
store.

In 1950, the Waltons left Newport for Bentonville, where Sam opened Walton’s 5&10
on the downtown square. They chose Bentonville because Helen wanted small-town
living, and Sam could take advantage of the different hunting seasons that living at the
corner of four states had to offer.

Inspired by the early success of his dime store, and driven to bring even greater
opportunity and value to his customers, Sam opened the first Walmart in 1962 at the
age of 44 in Rogers, Arkansas.
He have changed the Face of Retail all over the world

Sam's competitors thought his idea that a successful business could be built around
offering lower prices and great service would never work. As it turned out, the
company's success exceeded even Sam's expectations. The company went public in
1970, and the proceeds financed a steady expansion of the business. Sam credited the
rapid growth of Walmart not just to the low costs that attracted his customers, but also
to his associates. He relied on them to give customers the great shopping experience
that would keep them coming back. Sam shared his vision for the company with
associates in a way that was nearly unheard of in the industry. He made them partners
in the success of the company, and firmly believed that this partnership was what
made Walmart great.

As the stores grew, so did Sam's aspirations. In addition to bringing new approaches
and technologies to retail, he also experimented with new store formats—including
Sam's Club and the Walmart Supercenter—and even made the decision to take
Walmart into Mexico. Sam's fearlessness in offering lower prices and bringing
Walmart's value to customers in the U.S. and beyond set a standard for the company
that lives on to this day. His strong commitment to service and to the values that help
individuals, businesses and the country succeed earned him the Presidential Medal of
Freedom, awarded by President George H. W. Bush in 1992. 

It was during Sam's acceptance remarks that he articulated what would come to be
Walmart's official company purpose.

If we work together, we'll lower the cost of living

for everyone...we'll give the world an opportunity to
see what it's like to save and have a better life.
Today, "saving people money so they can live better" is the driving force behind
everything The Walmart do.
10 Rules for Building a Better Business

Sam Walton believed running a successful business boils down to 10 simple rules and
they helped Walmart become the global leader it is today. They continue to apply
them to every part of their business.

1. Commit to your business.

Believe in it more than anybody else. If you love your work, you'll be out there every
day trying to do it the best you possibly can, and pretty soon everybody around will
catch the passion from you – like a fever.

2. Share your profits with all your associates, and treat them as partners.
In turn, they will treat you as a partner, and together you will all perform beyond your
wildest expectations.

3. Motivate your partners.

Money and ownership alone aren't enough. Set high goals, encourage competition,
and then keep score. Don't become too predictable.

4. Communicate everything you possibly can to your partners.

The more they know, the more they'll understand. The more they understand, the
more they'll care. Once they care, there's no stopping them.

5. Appreciate everything your associates do for the business.

Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of
praise. They're absolutely free – and worth a fortune.

6. Celebrate your success.

Don't take yourself so seriously. Loosen up, and everybody around you will loosen
up. Have fun. Show enthusiasm – always. All of this is more important, and more fun,
than you think, and it really fools competition.

7. Listen to everyone in your company.

And figure out ways to get them talking. To push responsibility down in your
organization, and to force good ideas to bubble up within it, you must listen
to what your associates are trying to tell you.

8. Exceed your customers’ expectations.

Give them what they want — and a little more. Make good on all your
mistakes, and don't make excuses — apologize. Stand behind everything you
do.

9. Control your expenses better than your competition.

This is where you can always find the competitive advantage. You can make
a lot of different mistakes and still recover if you run an efficient operation.
Or you can be brilliant and still go out of business if you're too inefficient.

10. Swim upstream.

Go the other way. Ignore the conventional wisdom. If everybody else is
doing it one way, there's a good chance you can find your niche by going in
exactly the opposite direction.

Mr. Sam's Legacy

Sam Walton died in 1992, shortly after receiving the Medal of Freedom, but
his legacy lives on. To this day, Walmart remains a leader in the retail
industry. They are committed not just to expanding the business to better
serve their customers, but also to improving the communities they serve
through their efforts to constantly improve what they do and how they do it,
and through the impacts they're able to achieve through the Walmart
Foundation. Through this daily dedication to their business and otheir
customers.
 Timeline
1967

The Walton family owns 24 stores, ringing up $12.7 million in sales.

1969

The company officially incorporates as Wal-Mart Stores, Inc.

1970

Walmart becomes a publicly traded company. The first stock is sold at

$16.50 per share.

1971

The first distribution center and Home Office open in Bentonville, Arkansas.

1972

Walmart is listed on the New York Stock Exchange (WMT). With 51 stores,
Walmart records sales of $78 million.

1975

Inspired by a visit to a Korean manufacturing facility, Sam Walton introduces

the Walmart cheer.

1979

The Walmart Foundation is established.

1980

Walmart reaches $1 billion in annual sales, faster than any other company at
that time.
Walmart has 276 stores and employs 21,000 associates.

1983

The first Sam’s Club opens in Midwest City, Oklahoma.

Walmart replaces cash registers with computerized point-of-sale systems,

enabling fast and accurate checkout.

1984

Sam Walton does the hula on Wall Street, making good on a promise to
associates after the company achieves a pre-tax profit of 8% for the previous
fiscal year.

1987

The Walton family establishes the Walton Family Foundation.

The company installs the largest private satellite communication system in
the U.S., linking the company's operations through voice, data and video
communication.

1988

The first Walmart Supercenter opens in Washington, Missouri, combining

general merchandise and a full-scale supermarket to provide one-stop
shopping convenience.

David Glass is named chief executive officer.

1991

Through a joint venture with Cifra, a Mexican retail company, Walmart goes
global, opening a Sam’s Club in Mexico City.

1992
While receiving the Medal of Freedom, Sam Walton articulates the
company’s mission of saving people money so they can live better, shortly
before passing away at age 74.

Rob Walton becomes chairman of the board.

Walmart employs 371,000 associates in 1,928 stores and clubs.

1993

Walmart celebrates its first $1 billion sales week.

1994

Walmart expands into Canada with the purchase of 122 Woolco stores.

1996

Walmart opens its first stores in China.

1997

The company celebrates its first $100 billion sales year.

1998

The Neighborhood Market format is introduced with three stores in Arkansas.

Walmart enters the United Kingdom with the acquisition of Asda.

2000

H. Lee Scott, Jr. succeeds David Glass as Chief executive officer.

Walmart.com is founded, allowing U.S. customers to shop online.

Walmart employs more than 1.1 million associates in 3,989 stores and clubs
worldwide.

2002
For the first time, Walmart tops the Fortune 500 ranking of America's largest
companies.

Walmart enters the Japanese market through its investment in Seiyu.

2005

Walmart takes a leading role in disaster relief, contributing $18 million and
2,450 truckloads of supplies to victims of hurricanes Katrina and Rita.

Walmart makes a major commitment to environmental sustainability,

announcing goals to create zero waste, use only renewable energy and sell
products that sustain people and the environment.

2006

Walmart introduces its $4 generic-drug prescription program.

2007

Walmart.com launches its Site to Store service, enabling customers to make a

purchase online and pick up merchandise in stores.

2009

Mike Duke becomes CEO.

Walmart enters Chile with the acquisition of a majority stake in D&S S.A.

For the first time, Walmart exceeds $400 billion in annual sales.

2010s
2010

Bharti Walmart, a joint venture, opens its first store in India.

Walmart commits $2 billion through the end of 2015 to help end hunger in
the United States.

Walmart launches a global commitment to sustainable agriculture, aiming to

strengthen local farmers and economies, while providing customers access to
affordable, high-quality food.

2011

Walmart expands its business into South Africa by acquiring 51% of

Massmart Holdings Limited.

With the acquisition of Massmart in South Africa, Walmart surpasses 10,000

retail units around the world.

2012

Walmart celebrates 50 years of helping people save money so they can live
better.

2013

Walmart U.S. announces it will hire any honorably discharged veteran within
their first year off active duty. Walmart projects hiring over 100,000 veterans
in the next five years.

Walmart acquires Bharti Walmart Private Limited, including the Best Price
Modern Wholesale cash and carry business in India.

Walmart commits to buying $250 billion in goods manufactured in the

United States over the next 10 years.
Walmart opens its first store in the District of Columbia.

2014

Doug McMillon succeeds Mike Duke as CEO.

Greg Foran becomes President and CEO of Walmart U.S.

2015

The company employs 2.3 million associates worldwide and serves more
than 200 million customers each week at more than 11,000 stores in 27
countries.

Walmart announces a $2.7 billion investment over two years in its U.S.

workforce, including raising its minimum wage to $9 an hour, implementing
new training programs, and giving associates more control over their
schedules.
Walmart acquires 100% stake in Yihaodian, an e-commerce business in
China, up from the 51% stake since 2012.

Rob Walton retires as chairman of the board of directors for Wal-Mart Stores,
Inc. He continues to serve as a director.

Greg Penner succeeds Rob Walton as chairman of Wal-Mart Stores, Inc.

2016

Walmart opens its Culinary & Innovation Center in Bentonville to develop

and test new and innovative products.

Walmart Pay, a fast, easy and secure way for customers to make purchases
with their smart phones, becomes a popular in-store payment method.
Online retailer Jet.com becomes part of the Walmart family with the two
companies joining forces to save customers even more time and
money. Hayneedle, a subsidiary of Jet.com, is also included in this merger.
Walmart opens its first training Academy in South Carolina, with 200 total
locations planned at stores across the U.S.
More than 1.2 million Walmart and Sam’s Club associates get a pay
increase as part of the company’s two-year, $2.7 billion investment in its
people.
Walmart and JD.com, China’s largest e-commerce company by
revenue, form a strategic alliance to better serve consumers across China,
covering both online and offline retail.
The company makes a commitment to become the most trusted
retailer through hitting specific goals by 2025, all focused on sustainability,
empowering its associates and improving the lives of people around the
world.

2017

John Furner becomes Sam's Club's new president and CEO.

Walmart launches free two-day shipping on more than 2 million items, no
membership required.
Walmart acquires Moosejaw, ModCloth, Bonobos and Parcel. Jet
acquires ShoeBuy.com, which is later renamed Shoes.com.
Walmart launches Store No 8, a tech incubator, with a focus to drive
commerce forward and transform the future of retail.
Walmart launches Project Gigaton, asking suppliers to help reduce
greenhouse gas emissions from its supply chain by 1 gigaton. The company
also sets a new goal to reduce its consumables chemical footprint by 10% by
2022.

2018

The company changes its legal name from Wal-Mart Stores, Inc. to Walmart

Inc.
Walmart announces plans to increase its starting wage rate for all U.S. hourly
associates to $11, expand maternity and parental leave benefits and provide a
one-time cash bonus for eligible associates. More than 1 million associates
are expected to benefit from the combined wage and benefit changes.
Judith McKenna becomes President and CEO of Walmart International.
The company takes thoughtful and deliberate actions to serve customers and
position its International business for long-term growth with the acquisition
of Flipkart in India,divestiture of its business in Brazil and proposed merger
of Asda and Sainsburys in the U.K.
Walmart acquires Eloquii, Bare Necessities, and Art.com.

2019

John Furner named President and CEO of Walmart U.S.

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We’ve come a long way since 1962. As our business has changed, so has our
logo.