History of Wal Mart

The great American retail giant Wal-Mart was founded in the early nineteen sixties [1962] by Mr. Sam Walton and his brother bud Walton, after years of owning the Ben Franklyn variety stores.
Wal-Mart Stores, Inc. is not only the largest retailer in the world; it now also ranks as the largest corporation in the world. The retail giant dwarfs its nearest competition, generating three times the revenues of the world's number two retailer, France's Carrefour SA. Domestically, Wal-Mart has more than 1.2 million workers, making it the nation's largest nongovernmental employer.
Wal- Mart inc. as grown into a great conglomerate, with several subsidiaries which includes, the Sam’s club, Wal-Mart super centers, Wal-Mart neighborhood super markets and several international subsidiaries.
The company was founded on the revolutionary philosophies of excellence in the workplace, customer service and always having the lowest prices. “We have always stayed true to the Three Basic Beliefs Mr. Sam established in 1962: 1. Respect for the Individual. 2. Service to Our Customers. 3. Strive for Excellence
the following are important key dates to be noted in the company’s history, growth, and development ‘

1970: Wal-Mart stock begins trading over the counter.

1972: The Company’s stock is listed on the New York Stock Exchange.

1979: Revenues surpass $1 billion; the company is the fastest to reach this milestone.

1983: The first Sam's Wholesale Clubs are opened; they are later renamed Sam's Clubs.

1988: The Company opens its first Wal-Mart Super centers, combined discount outlets and grocery stores.

1990: Wal-Mart becomes the largest retailer in the United States.

1991: Foreign expansion begins with the creation of a joint venture with Cifra, S.A. de C.V., Mexico's largest retailer.

1998: The first Wal-Mart Neighborhood Markets are opened in the United States; 74 Inters par hypermarkets are acquired in Germany.

2003: Fiscal 2003 revenues of $244.52 billion make Wal-Mart the world's largest corporation.

The above are important key dates to be noted in the company’s history, growth, and development ‘
The company’s, information technology approach of early adopters as giving the corporation an unsurpassable edge over its competitors as the company is never scared to try new technology, and is constantly investing in the new technology through its MIS department this as helped the company in its incredible growth, and rapid expansion.


CEO of Wal-Mart

The CEO of Wal-Mart is Michael Terry Duke. An American businessman, he was born in 1949. In February 2009, Duke became the fourth chief executive officer of Wal-Mart. He earned a BS in Industrial Engineering from the Georgia Institute of Technology in 1971. He has 23 years of experience in retailing with Federated Department Stores and May Department Stores. He served as Chief Executive Officer and President of Wal-Mart International since October 2005. He served as the Chief Executive Officer and President of Wal-Mart Stores USA (Mart Stores Division) since April 25, 2003. He also served as an Executive Vice President of Wal-mart Stores Inc., from April 25, 2003 to September 2005 and as its Executive Vice President of Administration from 2000 to April 25, 2003. From March 2000 to July 2000, he operated as an Executive Vice President of Logistics at Wal-mart Stores Inc. From March 1996 to March 2000, he served as a Senior Vice President of Logistics at Wal-mart Stores Inc. Prior to March 1996, Duke served as a Senior Vice President of Distribution of Wal-Mart Stores Division (USA). He handled full operating responsibilities for all of Wal-Mart Stores Division (USA)'s International operations including Argentina , Brazil , Canada , China , Costa Rica , El Salvador , Germany , Guatemala , Honduras , Japan , Mexico , Nicaragua , Puerto Rico , South Korea and the United Kingdom . He operated as Vice Chairman of Wal-Mart International since October 2005 and served as Vice Chairman of Wal-Mart Stores Inc. until February, 2009. He also performed as Vice Chairman of Wal-Mart Stores USA since April 25, 2003. Duke has also been a Director of Wal-Mart International Division of Wal-mart Stores Inc., since October 2005 and a Director of Wal-Mart Stores Inc. since November 2008. He serves as an External Director of Seiyu Ltd. He serves on the Board of Directors of Arvest-Bank of Bentonville, the Retail Industry Leaders Association. He served as Director of Wal-Mart de Mexico SAB De CV (Wal-Mart de Mexico SA) since 2006.