Walmart is one of the biggest multinational retail corporations in the whole of America.
Their company headquarters is in Bentonville, Arkansas.
It was founded by Sam Walton in Rogers, Arkansas, in 1962. Originally, it focused its early growth in rural areas, avoiding direct competition with successful retailers such as Sears and Kmart.
However, as the company grew Walmart had become one of the largest grocers in the United States.
A year later it moved into international markets opening a store in Mexico, and growth continued, either through new stores or acquisition through retailers, in countries such as Canada, China, Germany, and the United Kingdom.
Walton’s death in 1992 caused a big decline in sales but the company eventually rebounded and by 1995 Walmart’s sales had doubled.
Then in 1999 the company had become the world’s largest private employer, and in 2001 its total sales rocketed past those of Exxon Mobile.
This led to Walmart ranking as the largest corporation in the world.
Today, Walmart operates around 10,500 stores and clubs under 48 banners in 24 different countries and websites.
It employs 2.2 million people around the world with 1.6 million of them being from the US alone.
Walmart has a program put in place to ensure equality in the workplace.
It aims to drive change inside and outside the company, so in June 2020, they announced that it would develop strategies and invest resources to increase fairness, equity and justice.
It is also aiming to address systematic racism in society and make a change, Walmart and the Walmart Foundation have also put in $100 million in over five years to create a new center for racial equity.
The company also focuses on sourcing its produce and items made and sourced in America.
Most of the products they source for the retail businesses in the U.S. and other bigger markets like Mexico were made, grown or assembled domestically.
Speaking before his death, Mr Walton revealed some of the secrets to the business’s success.
“I probably have traveled and walked into more variety stores than anybody in America.
“I am just trying to get ideas, any kind of ideas that will help our company. Most of us don’t invent ideas. We take the best ideas from someone else.”
He also said: “The two most important words I ever wrote were on that first WalMart sign: ”Satisfaction Guaranteed.’ They’re still up there, and they have made all the difference.”