Walmart History Essay

1152 Words Apr 22nd, 2011 5 Pages
Wal-Mart Stores
History
Sam Walton founded Walmart in 1962. He was a businessman who started working in retail in 1940 at a J.C. Penney store in Des Moines, Iowa. In 1945, he ran a retail store in Newport, Arkansas, part of a chain of variety stores named Ben Franklin. Instead of renewing his lease, however, he decided to open a new Ben Franklin franchise in Bentonville, Arkansas and called it “Walton’s Five and Dime.” He succeeded by selling at a discount. Walmart’s purpose best exemplifies what the company still stands for today:
“Saving People Money So They Can Live Better” (Walmartstores.com) Within five years, the company had grown to 24 stores throughout Arkansas, reaching sales of $12.6 million. The company officially
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1).” Project Impact will result in cleaner, less cluttered stores that meant to improve the shopping experience with friendlier customer service. (Gregory, 2009) It’s ultimate goal—to crush the remaining competition. Although it is of little surprise, Wal-Mart continues to take hits from critics that question the negative impacts in local communities. Strategies, like its Project Impact further cement those concerns.
“Under Project Impact, Walmart will make major plays in winnable categories. The pharmacy, for example, has been pulled into the middle of the store, and its $4-prescriptions program has generated healthy buzz. With Circuit City out of business, the electronics section has been beefed up. Walmart is also expanding its presence in crafts. Sales at Michael's Stores, the country's largest specialty arts-and-crafts retailers, have sagged, and Walmart sees an opportunity. (Gregory, 2009)”
SWOT Analysis
Strengths • Largest retailer & employer in U.S.
• A large number of products offered in one place
• Sales prices throughout the year, not just special

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