Walmart, a multinational retail corporation, manages a network of hypermarkets, discount department stores, and grocery outlets. Established in 1962 by Sam Walton, its headquarters are located in Bentonville, Arkansas. Walmart holds the distinction of being the world's leading retailer in terms of revenue and also stands as the largest private employer across the globe.
Born in Kingfisher, Oklahoma, in 1918, Sam Walton graduated with an economics degree from the University of Missouri in 1940. Following his service in the United States Army during World War II, Walton inaugurated his initial retail establishment, a Ben Franklin franchise, in Bentonville, Arkansas, in 1945.
In 1962, Walton introduced the very first Wal-Mart Discount City store in Rogers, Arkansas. Emphasizing affordability and convenience, Walton's approach played a pivotal role in Walmart's rapid expansion. By 1970, Walmart boasted a presence with more than 100 stores in Arkansas and Oklahoma.
Throughout the 1970s and 1980s, Walmart's reach extended nationwide, culminating in its status as the most profitable U.S. retailer by 1988. In 1990, Walmart marked its international debut with the opening of a store in Mexico.
Today, Walmart's operations span across 11,000 stores across 27 countries. It continues to hold the title of the world's foremost retailer by revenue and ranks as the largest private employer worldwide, with a workforce exceeding 2.2 million individuals.
While Walmart garners acclaim for its competitive pricing and convenience, it has also faced criticism for its labor practices and impact on small businesses. Despite these controversies, Walmart remains a preeminent and highly successful global retailing force.
