The Founder Of Walmart : Sam Walton Essays

715 Words Jun 23rd, 2016 3 Pages
The founder of Walmart is Sam Walton. He started off in the retail business with JC Penny’s in 1940. In 1945, he was offered a variety store called Ben Franklin in Newport, Arkansas. When the lease came up, the lease was not renewed. He then opened up a Walton’s Five and Dime store. Sam was very successful at selling high volume and low cost merchandise. His strategy was to have “The lowest Prices Anytime, Anywhere.” (Our History, 2016) The store is now a Walmart museum.
In 1962, the Walton brothers opened up a new business in Rogers, Arkansas. The store was Walmart, the first of many stores to come. By 1969, the Walton family own 24 stores with over 12 million in sales. Later that year they incorporated as Wal-Mart Stores, Inc.
In the 1970’s, many changes happened. Walmart calls it the “decade of incredible growth.” (Our History, 2016) The growth includes going national and going to a public traded company. Walmart finally opened up a home office and a distribution center in Bentonville, Arkansas, just before going public. When they went to a publicly traded company in 1972 they are listed on the New York Stock Exchange (WMT). At that time, they had approximately 51 stores and sales of $78 million. Their stocks sold at $16.50 per share and today, July 17 they sell at $70.95 per share. When Mohr stores went into bankruptcy, Walmart bought sixteen of their stores and the next year they acquired Hutcheson Shoe Company. Near the end of the 1970’s Walmart…

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