History Timeline
1960s  First discount store in Rogers, Ark. The Walmart story began in 1962, when Sam Walton, our founder opened the company’s first discount store in Rogers, Ark. 1968 saw the hiring of Walmart Aviation’s first full-pilot, who provided help to Sam and Bud Walton, as well as the opening of the first stores outside of Arkansas, in Sikeston, Mo., and Claremore, Okla. The company officially incorporated as Walmart Stores Inc. on October 31, 1969. 1970s  Walmart's first distribution center, Bentonville, Ark. The 1970s marked the beginning of significant growth for the company. The first year of that decade saw the opening of the first Walmart distribution center, as well as the Walmart Home Office, in Bentonville. Ark. At that point, Walmart employed 1,500 associates (employees) working in 38 stores, with sales of $44.2 million. Walmart also began selling shares over the counter as a publicly-held company in 1970. 1971 In May 1971, Walmart stock experienced its first 100 percent split, at a market price of $47. At that time, the company operated in five states: Arkansas, Kansas, Louisiana, Missouri and Oklahoma. In 1972, after being approved and listed on the New York Stock Exchange, Walmart stock split 100 percent for a second time, with a market price of $47.50. The company then expanded into three more states, entering Tennessee in 1973 and Kentucky and Mississippi in 1974. 1975 By the middle of the decade, Walmart employed more than 7,500 associates in 125 stores with sales of $340.3 million, and in 1975 entered into the state of Texas. Walmart stock split for the third time in August of that same year, with a market price of $24, and the company made its first acquisition, taking control of 16 Mohr-Value stores in Michigan and Illinois. 1975 was also the year that Sam Walton, inspired by workers he encountered during a visit to Korea, conceived of the famous “Walmart Cheer” and introduced it to his associates. Walmart began operating in Illinois, its 10th state, in 1977. The next year, the company acquired the Hutcheson Shoe Company, and introduced the Walmart pharmacy, auto service center and jewelry divisions. In 1979, Walmart became the first company to reach $1 billion in sales in such a short period of time. The company closed out the decade with 276 stores, 21,000 associates and $1.248 billion in sales, and the addition of its 11th state, Alabama. 1980s  First Sam's Club, Midwest City, Okla. 1980 Growth continued into 1980, with Walmart stock splitting 100 percent for the fourth time with a market price of $50. That year also saw the opening of the largest distribution center to date in Palestine, Texas. In 1981, Walmart entered Georgia and South Carolina, and made its second acquisition with 92 Kuhn’s Big K stores. The company entered Florida and Nebraska in 1982, following June’s fifth 100 percent stock split at a market price of $49.875. 1983 Forbes magazine ranked Walmart No. 1 among general retailers for the eighth year straight in 1983, the year that the first Sam’s Club opened in Midwest City, Okla. The same year, Walmart opened stores in Indiana, Iowa, New Mexico and North Carolina, implemented the characteristic People Greeters in all locations, and opened the first 1-hour photo lab in Tulsa, Okla. Walmart also acquired U.S. Woolco Stores in 1983, and the stock split 100 percent for the sixth time with a market price of $81.625.  Sam Walton does the hula on Wall Street. 1984 1984 saw Sam Walton doing the hula at high noon on Wall Street, making good on a promise to associates after the company achieved a pre-tax profit of 8 percent for the previous fiscal year. 1984 was also the year that David Glass was named company president, and Walmart entered Virginia. 1985 At mid-decade, Walmart employed 104,000 associates in 882 stores with sales of $8.4 billion. Stock split 100 percent in September, with a market price of $49.75. That year, the company entered Wisconsin and Colorado and also acquired Grand Central Shoes. The next year, 1986, Walmart entered Minnesota. 1987 Walmart marked its 25th anniversary in 1987, with 1,198 stores, sales of $15.9 billion and 200,000 associates. The stock split 100 percent again in June, with a market price of $66.625. The company also completed the Walmart Satellite Network, the largest private satellite communication system in the United States, linking all operating units of the company and the Home Office with two-way voice, data, and one-way video communication. 1988 By 1988, 99 percent of Walmart stores had bar-code scanning capabilities, the first Supercenter opened in Washington, Mo., and the company acquired Supersaver units. David Glass was named chief executive officer of Walmart. Walmart closed out the 1980s with the addition of operations in Michigan, West Virginia, and Wyoming, for a total of 29 states. 1990s  Walmart Visitors' Center, Bentonville, Ark. 1990 Walmart became the nation’s No. 1 retailer in 1990, entering into California, Nevada, North Dakota, Pennsylvania, South Dakota, and Utah and acquiring the McLane Company of Temple, Texas. The company also opened the Walmart Visitors' Center on Bentonville’s town square, on the site of Sam Walton’s original Walton’s 5-10 store. Walmart stock split 100 percent for the ninth time in 1990 as well, at a market price of $62.50. 1991 Branching out further in 1991, Walmart stepped into the international market with the opening of a retail unit in Mexico City. On the domestic front, the company entered into several states in the Northeast and South Atlantic regions, including Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey and New York, and acquired Western Merchandisers, Inc. of Amarillo, Texas. Walmart also introduced the “Sam’s American Choice” brand products in 1991.  President George H. W. Bush presents Medal of Freedom to Sam Walton. 1992 On April 5, 1992, Sam Walton passed away at the age of 74. Just weeks before, President George H.W. Bush presented him with the Medal of Freedom, the nation’s highest civilian honor, during a ceremony at Walmart headquarters. Following Sam’s passing, his son S. Robson Walton was named chairman of the board. With the additions of Idaho, Montana and Oregon, Walmart operated in 45 states in the United States in 1992, and expanded into Puerto Rico. 1993 Walmart’s international business formed its own division the following year, with Bobby Martin serving as president. 1993 also saw the tenth 100 percent stock split at a market value of $63.625; the first billion-dollar sales week in December; the acquisition of 91 Pace Warehouse Clubs; and Walmart’s entry into Alaska, Hawaii, Rhode Island and Washington, bringing the company’s total to 49 states. The 50th would be added two years later. 1994 In 1994, a prototype Walmart store, designed to be as environmentally friendly as possible, opened in Lawrence, Kan. The company acquired 122 Woolco stores in Canada, and opened three value clubs in Hong Kong. As of that year, Walmart International operated 123 stores in Canada and 86 in Mexico. Also in 1994, the Code Adam missing child program was implemented in all stores, being named for Adam Walsh.  Walmart Todo Dia in Brazil 1995 1995 saw the passing of Sam Walton’s brother, James Lawrence “Bud” Walton, Walmart’s co-founder. The company entered its 50th state, Vermont, and built three units in Argentina and five in Brazil. As of that year, Walmart Stores Inc. operated 1,995 stores, 239 Supercenters, 433 Sam’s Clubs and 276 international stores with sales of $93.6 billion and 675,000 associates. In 1996, Walmart entered China through a joint-venture agreement. 1997 By the following year, Walmart became the largest private employer in the United States with 680,000 associates, plus an additional 115,000 international associates. 1997 was also Walmart’s first $100 billion sales year, with sales totaling $105 billion, and the company served 90 million customers per week worldwide. Walmart also replaced Woolworth on the Dow Jones Industrial Average, and the company introduced OneSource nutrition centers. 1998 Walmart entered into two more countries in 1998, with the acquisition of 21 Wertkauf units in Germany and a joint-venture agreement to operate in Korea. The company exceeded $100 million in annual charitable contributions that year, with donations totaling $102 million. Walmart also introduced the Neighborhood Market concept with three stores in Arkansas. Late 1990s In the last year of the 1990s, Walmart became the largest private employer in the world, with 1,140,000 total associates. The stock split 100 percent for the 11th time, with a market price of $89.75. The 1999 Cone/Roper Report, an annual national survey on philanthropy and corporate citizenship, ranked Walmart the No. 1 Corporate Citizen in America. The company acquired 71 Interspar units in Germany and acquired the ASDA Group plc in the United Kingdom. 2000s  H. Lee Scott Jr., third CEO of Walmart Stores Inc. 2000 Walmart entered the new millennium with the appointment of H. Lee Scott Jr. as the third CEO of Walmart Stores Inc. in 2000. That same year, Fortune magazine ranked the company fifth in its "Global Most Admired All-Stars" list and named Walmart the third most admired company in America. The 2000 Cone/Roper Report once again ranked Walmart as the No. 1 Corporate Citizen in America. 2002 Hispanic Business magazine ranked Walmart one of the "Top 25 Diversity Recruitment Programs" in 2001 for its aggressive program to hire and promote Latinos. In 2002, Walmart received the 2002 Ron Brown Award, the highest Presidential Award recognizing outstanding achievement in employee relations and community initiatives. 2003-2004 Fortune magazine also placed Walmart in the top spot on its “Most Admired Companies” list two years in a row, in 2003 and 2004. In 2004, Walmart was also presented the "Corporate Patriotism Award," which is presented to a company that exhibits exceptional dedication to supporting of U.S. service members and their families. 2005 Walmart marked a significant turning point in 2005 with a new commitment to bring environmental sustainability into its business, under the leadership of CEO Lee Scott. The sustainability commitment developed after Walmart lead the corporate drive to assist in U.S. hurricane relief efforts with $18 million in cash donations. That same year, in McKinney, Texas, and Aurora, Colo., Walmart created experimental stores that save energy, conserve natural resources, and reduce pollution. The company also launched the Acres for America program, which conserves critical wildlife habitats for future generations. As of 2005, Walmart employed more than 1.6 million associates in more 6,200 facilities around the world – including 3,800 U.S. stores and 3,800 international units – with $312.4 billion in sales for the year. The company served more than 138 million weekly customers in the United States, Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea and the United Kingdom. View the current unit count for each country.  Seiyu Store in Japan 2006 By 2006, the number of weekly customers grew to more than 176 million around the world, with 6,779 locations. Walmart had record net sales of $345 billion. The company increased its ownership stake in Seiyu in Japan, to 53.3 percent, and increased its ownership of CARHCO to 51 percent, renaming the company Walmart Central America. Through the Walmart Foundation, charitable partners, and donations from customers and associates, Walmart contributed more than $415 million in cash and in-kind merchandise to 100,000 organizations worldwide. Walmart also launched a new $4 generic prescription drug program to help customers in its U.S. pharmacies save money on health care. 2007 In February 2007 Walmart helped launch Better Health Care Together, a unique partnership of organizations dedicated to a set of four common sense principles for achieving a new American health care system by 2012. Later in the year, Walmart expanded its successful $4 generic program, which as of 2007 had saved customers more than $396 million on prescription drug costs.  Walmart International reached significant milestones as well. In August, Walmart and Bharti Enterprises announced an agreement to establish Bharti Walmart Private Limited, a joint venture for wholesale cash-and-carry and back-end supply chain management operations in India.
The 3000th international store, a Supercenter in Sao Paulo, Brazil, opened in November 2007. In December, Walmart successfully completed a tender offer to acquire all issued and outstanding shares of Seiyu in Japan, which raised Walmart’s ownership to 95.1 percent. 2008 On April 10, 2008, Sam's Club celebrated its 25th anniversary. In 2008, Sam's Club operates more than 590 locations nationwide and more than 100 locations internationally. 2009  Mike Duke, President and CEO of Walmart Mike Duke succeeds Lee Scott as president and chief executive officer, effective February 1, 2009. Duke was also elected to the company’s board of directors. Scott continues serving as chairman of the executive committee of the board. The board also approved the promotion of Eduardo Castro-Wright to vice chairman of Walmart Doug McMillon is promoted to president and chief executive officer of Walmart International, the company’s second largest operating segment.
|
|
Click the links below to add this entry to social networking sites.
|
|
|