Wal-Mart

Categories: Business & Finance | Companies | Business News
    • Stock symbol: WMT, NYSE
    • Annual revenue (2007): $378.799 billion United States
    • Founder: Sam Walton
    • Year Established: 1962
    • Industry: Retail
    • Phone: 1-479-273-4000
    • Fax: 1-479-273-4053
    • HQ: Bentonville, Arkansas
    • President and CEO: Michael Duke
    • CFO: Thomas M. Schoewe
    • Staff: 2.1 million
    • Other key people: S. Robson Walton, Chairman of the Board

  • Established in 1962 by Sam Walton, Wal-Mart is the largest company in the United States (when ranked by revenue) according to the 2008 Forbes 500 list. Wal-Mart runs a chain of large discount department stores, which are located throughout the country. The company is also the largest U.S. employer, employing nearly 2.1 million people as of 2007.

    In mid-March 2009, a text message circulated throughout the country which warned of a "gang initiation to kill 3 women and 3 men" at the local Wal-Mart. Police across the United States are reporting that this text message is a mass hoax rather than an actual local threat and people should feel safe to visit Wal-Mart's throughout the country.Tri-City Herald: THREAT: Wal-Mart shooting text a hoax, police say

  • Key Dates

    • 1962: First store is opened in Rogers, Arkansas
    • 1972: Wal-Mart goes public and lists on the NYSE
    • 1975: The company expands to nearly 125 stores across the country
    • 1979: Sales reach in excess of $1 billion
    • 1993: Randy Mott becomes Chief Information Officer
    • 1996: Online stores launched
    • 2006: Rollin Ford named CIO
    • 2009: Launch of Hispanic-focused Supermercado de Walmart

  • Wal-Mart Lawsuits

    Wal-Mart announced in December 2008 that they would pay around $352 million to settle several lawsuits across the country that claim the popular discount store chain forced employees to work off the clock. The actual amount of the settlement may be much higher, depending on the number of workers who submit claims. The settlement resolves all but 12 wage-and-hour lawsuits currently pending against Wal-Mart.New York Times: Wal-Mart to Settle Suits Over Pay (December 23, 2008)

  • Forming a Union?

    In July 2008, Wal-Mart held meetings with managers to alert them to the presence of legislation that would make it easier for employees to form unions. Though Wal-Mart says its intentions are ethical, many employees feel they are being told how to vote.Salon.com: Wal-Mart warning workers off Democrats (August 1, 2008) CBS News: Walmart Vs. Their Workers (August 1, 2008)

  • Leadership

    On January 7, 2009, Doug McMillon, who served as the CEO of Sam's Club wholesale unit, was promoted to the position of Walmart's International CEO. McMillon will begin his new position on February 1, 2009.Marketwatch: Wal-Mart names Sam's Club's McMillon as International Chief (January 7, 2008)

  • Food Expansion

    In February 2009, in the midst of sagging markets and a grim retail sector, Wal-Mart announced that it would expand its in-house brand of food products in response to growing frugality among consumers.BloggingStocks: Wal-Mart expands store-brand food deals (February 19, 2009)

  • Supermercado de Walmart

    In March 2009, Wal-mart announced the launch of its first Hispanic-focused supermarkets, named Supermercado de Walmart, to be opened in the summer of 2009 across Arizona and Texas. The new Hispanic supercenters will feature a bilingual staff and a new layout, signing and product assortment designed to specifically target and improve the experience of Hispanic shoppers.FT.com: Wal-Mart looks to Hispanic market

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