Wal-Mart – everything you ever wanted to know!

It was in 1940s when a person names Sam Walton wanted to achieve more from his strategy which he was planning while franchising a Ben Franklin’s variety store in the area of Newport Ark. Walton purchased his first store WALTON’s Five and Dime that would become the headquarters of the biggest retailers in the united states, in the town of Ozark Mountain, Arkansas. Who could every thought the idea cooking inside Sam Walton’s mind would later be the biggest and most used shopping mart in entire United States. Walton strategy was to get good deals from the supplier’s at a bargained price. This way a retailer can keep a good profit margin from the deal he got a wholesale price. Walton, on the other hand realized the potential his idea has given him when he did the unthinkable and passed on the saving towards the customers and provoking them buy more in volume. This was the greatest decision in Walton’s career and by now, Sam Walton’s business strategy brought him loads of deals, money and a super giant called Wal-Mart in the year 1962.

Walton never thought this would happen to him as he had this billion dollar idea just naturally. It was nothing that he planned on doing. Walton was freakishly cheap and you can know this by analyzing some facts about him as he continued to use the same things he was before and after becoming the richest man in the Unites States in 1980s. Walton culture got around in his company as well as Cost-cutting is something everyone learned while living and breathing in Wal-Mart. Any company trips were always on the economical side which ends up in shared hotel rooms occupied by the boss himself and other accompanying staff members. No only that even a cup of coffee would need the office stay to shed 10 cents into the contribution tin.

During the very year of 1962, Walton grew up to eleven Walton stores which itself is a remarkable sign of tremendous potential the discount store chain had as predicted by Walton’s vision. Bob Bogle, who was hired by Sam Walton to check on the purchase and maintenance proposed a name Wal-Mart for this discount store chain. During 1967, the Wal-Mart stored grew to a figure of 24 stores in the state of Arkansas itself and reaching an impressive profit figure of $12.6 million in sales. In 1968 the company ventures in other states by opening their stores in the city of Sikeston, Missouri and Claremore, Oklahoma and continued to crusade of adding more and more location covering small towns. Its was high time that the company was incorporated was Wal-Mart Stores Inc on the very day October 31, 1969-70 and got the home office and distribution center fixed at Bentonville, Arkansas. By this time they were only 38 stores with around 1500 associates and a profit of $44.2 millions to get listed at the stock exchange. The company started trading stock and got listed at the New York Stock Exchange in the year 1972. But in the year 1971, the company had a stock split at a price of $47 and Wal-Mart was operational in the states of Arkansas, Kansas, Missouri, Oklahoma and Louisiana. 1973, the company entered into the state of Tennessee.

By the time year 1974 came, the company had 78 stores and went for inter-store communication network based on computer technology. This was a remarkable investment which improved the way the communication between the stores. It was decided that the company venture out in the states of Kentucky and Mississippi. In the year 1975, the company opened there stores in the state of Texas. By this time there were total of 125 stores operated and maintained by 7500 associates. The sales and invoicing/ordering methodology improved giving company a sales which was thrice in profit from $167.5 million to a magical number of $479 million. During 1977 the company took a vital decision and made its first ever corporate acquisition by assuming the ownership of operation control of the historical Mohr-Value sores which were successfully running in Illinois and Michigan followed by another acquisition of Hutcheson Shoe Company in the year 1978. Again in 1978, the company took major risks and ventures out to explore new markets and possibilities of business retailing. The concept of pharmacy, Jewelry and Auto service-centre were launched giving another advantage for a buyer to visit Wal-Mart again.

By the time it was year 1979, the company was at a record breaking 279 stores with 21,000 associates reaching a total of $1.248 Billion in total sales. The growth was tremendous and the possibilities of making more ventures were making the company venture out to a phenomenal extent. In the year 1980, the company had its fourth split and the market price reached $50. This was the time people started gain so much confidence in this industry that they blindly invested and gained exceptional profits on the stocks. In the year 1981, the Wal-Mart moved to explore south east US markets by opening more stores in the states of South Carolina and Georgia and took over 91 stores of Kuhn’s Big K chain followed by the opening of new stores in the states of Nebraska and Florida by 1982.

In the year 1983, there was a new era of warehouse shopping club, based on membership known as Sam’s Club was introduced in the Midwest City of Oklahoma along with the continue growth of retail stores in the states of Iowa, Indiana, Mexico and North Carolina with a new attitude “People Greeters” in every store. History and facts also revealed that Wal-Mart also entered into the state of Virginia. With 882 stores and a stunning sales figure of $8.4 billion, the company had over 100,000 associates and enters into the states of Colorado and Wisconsin. Minnesota was the next inline and got its first ever Wal-Mart stores opened in year 1986.

It’s a record until today that this company has made on its 25th anniversary in the year 1987 by having more than 1198 stores and a sales figure beyond expectations of %15.9 billion with 200,000 associates. This was another great year when the company got their first ever satellite link connection to connect all its stores to the Bentonville head-office at an expense of $24 million. This connection supported, two-way Voice-&-data along with one-way video communication channels. This was the biggest private network in the history of retailing business and gave tremendous boost to company’s inventory, sales and instant communication links to other stores booming and making excellent money in many states. The company went ahead with the technological advancements and continued the upgrade of their stores equipment. By year 1988, all the stores were equipped with the barcode readers which helped further in keeping a track record of inventory figures.

All this happened with the simple formula Sam Walton explained to his associates. Walton told each one of his associated to look in the eye of the customer and greet them and offer your assistance. Sam understood the need for good hospitality and gesture which led to the personality development of many of his associates who were shy and hesitated in talking with the customers. Sam guaranteed the improvement in the communication and relations skills for everyone which would later on help them get to a higher position leading a leader’s role throughout. This was his last few comments before stepping down as the chief executive officer and handing over the responsibility to David Glass. Sam Walton continued to stay at the chairman’s position and remained part of the corporate board of director’s. David Glass on the other hand went on and made some remarkable changes to the senior management positions by promoting most old and loyal senior employee to high positions with more responsibility to handle. This was the same time when Wal-Mart launched there first ever Supercenter in the Washington, Missouri with all the features similar to Wal-Mart discount store offered along with the addition of Optical Center, Tire and oil change shop, one hour photo lab, numerous alcove shops like cellular, Banks, portrait studio, Video rentals, fast food outlets etc giving a different look altogether. In the year 1989, Wal-Mart was the first every retail store chain which was operational in 26 states with the newest addition of North Dakota, South Dakota, California, Utah, Nevada and Pennsylvania. A newest form of WallMart vision center also launched on the same site of Sam Walton’s Original store.

1990s was an era which saw tremendous growth the company’s profits and sales along with critics mentioned by several newspapers articles questioning about the ways of Wal-Mart’s operations. During the year 1990 Wal-Mart acquired another giant, the McLane Company, a quality food service distributor. And the crusade continued with the company moving into remaining states covering entire United States and its nearby locations and countries. The biggest blow came in year 1992 with the death of the Chairman Sam Walton which left the company into turmoil’s and dilemma of who will be the next chairman.

Until Sam Walton was there, he took the company from 153 stores to the dramatic growth with 330 stores and a profit of $1.2 billion in sales in year 1980 to 1,114 stores and $6.4 billion in year 1985 to 1,528 stores and $25,800,000,000 in sales in year 1990. This is a stunning performance by any man who strictly followed his vision. WalMart is Sam’s American choice brands of products which is appreciated and used by millions around the world today! Year 1992-2000 was the era of changes in vision and implementations of better technology for the development of the company and its associates. What Sam Walton left behind was not left to die but was taken to new heights and a dream to provide good products at cheap price to the worldwide consumer market who would buy in volume. Wal-Mart became the largest private employer in the world with 1,140,000 associates around the world and by acquiring United Kingdom’s ASDA group plc which was running with 229 stores.

In the year 2000, Fortune Magazine ranked Wal-Mart at 5th spot on the Global Most Admired All-Starts List and in the following years 2003-04 as America’s most admired company. Year 2005 was a good year when the company went on and broke all records when it made $312.4 Billion in the global sales with over 6200 facilities and 3,800 stores in United States alone and 3,800 international units with over 1.6 million associates. No place was left without a WallMart in United States as it was found within every 60 miles coverage area. Approximately 138 millions customer visits Wal-Mart every week and this is an exceptional achievement. Wal-Mart has also been keeping itself busy with charity and relief work.

Wal-Mart, live the dream America style!

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