This article covers the history of Walmart
, the large international discount retail chain.
The history of Walmart can be traced back to the 1940s when Sam Walton
began his career in retailing at J.C. Penny
. In 1943 Walton met the Butler Brothers who owned the retail chain Ben Franklin Stores. On May 9, 1950, Walton purchased a store from Luther E. Harrison in Bentonville, Arkansas
, and opened Walton's 5 & 10. Thus, the Ozark Mountain town of 2,900 residents would become the headquarters for the world's largest retailer.
In 1952 Walton invested 95% of the capital to open the first Walmart store.
1960s and 1970s
At some point Sam Walton made the decision to achieve higher sales volumes by keeping sales prices lower than his competitors by reducing his profit margin. By 1960, he had eleven Walton's storesFrank, T.A. "." The Washington Monthly.
April 1, 2006. Retrieved on July 24, 2006. Inspired by the successes of other discount department store chains, Walton opened the first store in his own discount chain in Rogers, Arkansas
that year. Responsible for the purchase and maintenance of signage, Walton's assistant, Bob Bogle, came up with the name "Wal-Mart" for the new chain. By 1967, the company grew to 24 stores across... Read More