While the first Walmart may have opened in Rogers, Arkansas in 1962, the foundation for the company’s business strategies were laid long before. Walmart founder Sam Walton was born in 1918, and his attitudes toward money were developed by living through the depression. Working through these hard times, Mr. Walton went on to pursue a degree in business from the University of Missouri, then began his management career with JC Penney. After returning from serving in WWII, Mr. Walton bought a Butler Brothers franchise store called Ben Franklin in Newport, Arkansas in 1945 after borrowing $20,000 from his father-in-law. Walton took this store that was previously losing money and transformed it into the number one franchise in the state. During
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The following year the company began to be publicly traded, with the first stock selling at $16.50 per share and the Walton family owning 61% of the shares. In 1972, Wal-Mart was listed on the New York Stock Exchange as WMT. In March 1972, Wal-Mart had its first 100% split, trading at $47 per share. By the end of 1972, Wal-Mart has 51 stores and annual sales of $78 million. Wal-Mart expanded rapidly throughout the 1970’s, acquiring other companies, building new locations and expanding internal department offerings to include jewelry, pharmaceuticals and automotive services. In 1975, Walton introduced the Wal-Mart Cheer after being inspired by a visit to a South Korean factory. By 1979, Wal-Mart has quietly grown to 276 stores, 21,000 employees and $1 billion in sales, the quickest company in history to reach this milestone. Wal-Mart began the 1980’s with stock splits in 1980 and 1982, continuing to grow. In 1983, Wal-Mart began operating Sam’s Wholesale Club, targeting small businesses. In their retail store, Wal-Mart introduces point-of-sale technology to replace traditional cash registers. These computerized systems allow for faster, more accurate check-outs. Wal-Mart also acquired Woolco Stores, introducing their “People Greeter” program company wide, and establishing one-hour photo labs. As a result, Wal-Mart closed out 1983 at over $88 per
The following year the company began to be publicly traded, with the first stock selling at $16.50 per share and the Walton family owning 61% of the shares. In 1972, Wal-Mart was listed on the New York Stock Exchange as WMT. In March 1972, Wal-Mart had its first 100% split, trading at $47 per share. By the end of 1972, Wal-Mart has 51 stores and annual sales of $78 million. Wal-Mart expanded rapidly throughout the 1970’s, acquiring other companies, building new locations and expanding internal department offerings to include jewelry, pharmaceuticals and automotive services. In 1975, Walton introduced the Wal-Mart Cheer after being inspired by a visit to a South Korean factory. By 1979, Wal-Mart has quietly grown to 276 stores, 21,000 employees and $1 billion in sales, the quickest company in history to reach this milestone. Wal-Mart began the 1980’s with stock splits in 1980 and 1982, continuing to grow. In 1983, Wal-Mart began operating Sam’s Wholesale Club, targeting small businesses. In their retail store, Wal-Mart introduces point-of-sale technology to replace traditional cash registers. These computerized systems allow for faster, more accurate check-outs. Wal-Mart also acquired Woolco Stores, introducing their “People Greeter” program company wide, and establishing one-hour photo labs. As a result, Wal-Mart closed out 1983 at over $88 per