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Wal-Mart Stores, Inc. () is an / Fortune .'' April 16 , 2007 . Retrieved on July 15 , 2007 . It was founded by Sam Walton in 1962 , Incorporated on October 31 , 1969 , and listed on the New York Stock Exchange in 1972 . It is the largest private employer in the world and world's fourth largest utility or commercial Employer , only trailing the People's Liberation Army of China , the National Health Service of the United Kingdom and the Indian Railways . Wal-Mart is the largest Grocery Retailer in the United States , with an estimated 20% of the retail grocery and consumables business, and the largest toy seller in the U.S., with an estimated 45% of the retail toy business, having surpassed Toys "R" Us in the late 1990s . Wal-Mart operates in Mexico as Walmex , in the United Kingdom as ASDA , and in Japan as The Seiyu Co., Ltd. Wholly owned operations are located in Argentina , Brazil , Canada , Puerto Rico , and the UK. Wal-Mart's investments outside North America have produced mixed results. In 2006 , Wal-Mart sold its retail operations in South Korea and Germany due to sustained losses and a highly competitive market. Wal-Mart has been the target of Criticism from Labor Union s and various groups and individuals. Specific criticisms include disapproval of the company's foreign product sourcing, quality of employee health insurance, lack of union representation, claims of Sexism , as well as accusations that Wal-Mart "destroys small business," among other things. HISTORY See Also: History of Wal-Mart Sam Walton 's retailing career began when he accepted a job offer at a JCPenney store in Des Moines, Iowa on June 3 , 1940 where he remained for 18 months. In 1945 , he met with Butler Brothers , a regional Retail er that owned a chain of Variety Stores called Ben Franklin . Butler Brothers offered him a Ben Franklin store in Newport, Arkansas . Walton could not come to agreement on his lease renewal and could not find a new location in Newport; so he located a new variety store in .'' April 1 , 2006 . Retrieved on July 24 , 2006 . In 1962, Walton opened the first Wal-Mart store, Wal-Mart Discount City and within five years the company expanded to 24 stores across the state of , 2006 . The company was , Kansas , Louisiana , Missouri and Oklahoma , and entered Tennessee in 1973, and Kentucky and Mississippi in 1974 . As it moved into Texas in 1975 , there were 125 stores with 7,500 employees, and total sales of $340.3 million. Wal-Mart continued to grow rapidly during the 1980s, and by its , 1988 . Retrieved on July 24 , 2006 . Walton remained on as Chairman of the Corporate Board Of Directors , and the company also restructured their senior management positions, elevating a cadre of executives to positions of greater responsibility. Also in 1988, the first ''Wal-Mart Supercenter'' opened in .'' October 26 , 2005 . Retrieved on July 25 , 2006 . By 2000, as / Fortune .'' April 17 , 2006 . Retrieved on July 15 , 2007 . In 2005, Wal-Mart had $312.4 billion in sales, more than 6,200 facilities around the world, including 3,800 stores in the .'' September 22 , 2005 . Retrieved on July 24 , 2006 . In .'' March 22 , 2006 . Retrieved on July 25 , 2006 . The new store features wooden floors, wider aisles, a Sushi bar, a coffee/sandwich shop (with free Wi-Fi Internet access), and higher-end items such as Microbrew Beer , expensive Wine s, and high-end electronics. The exterior sports the less-common hunter green background behind the Wal-Mart letters instead of the trademark blue. SUBSIDIARIES See Also: List of assets owned by Wal-Mart Stores, Inc. Wal-Mart's operations are comprised primarily in three retailing subsidiaries. Wal-Mart Stores Division U.S., , Food And Drug s, General Merchandise stores, bodegas (small markets), cash and carry stores, Membership Warehouse Club s, Apparel stores, soft Discount Store s and Restaurant s. Wal-Mart Stores Division U.S. , USA . Unlike smaller Wal-Mart stores, most Wal-Mart Supercenters feature double entrances and a few triple entrances (Main, Food, and Garden Center).]] .]] , a suburb of the St. Louis area.]] The Wal-Mart Stores Division U.S. is Wal-Mart's largest business subsidiary, accounting for 67.2% of fiscal 2006 net sales. This segment consists of three traditional retail formats: .'' February 6 , 2007 . Retrieved on February 14 , 2007 . Wal-Mart Stores operates retail department stores selling a range of non-grocery products, though emphasis is now focused on the supercenters, which include more grocery items. Wal-Mart Discount Stores Wal-Mart Discount Stores are a chain of Discount Department Store s that range in size from 100,000 square feet (5,000 m&2) to 224,000 square feet (21,000 m&2) with an average size of approximately 102,000 square feet (9,500 m&2). They carry some General Merchandise products and a selection of Food Items . Many of these stores also feature a garden center, a Pharmacy , Tire & Lube Express, optical center, One-hour Photo Processing Lab , Portrait studio, and a Fast Food outlet. Some also have Gasoline Stations. The first Wal-Mart store in Rogers, Arkansas , has been remodeled and expanded, becoming a 24-hour Wal-Mart Supercenter. A similar Wal-Mart concept, ''Discount City'', opened in Rogers a year earlier, but all of these stores were later closed or converted into Discount Stores. As of , 2006 . Wal-Mart Supercenter Wal-Mart Supercenters are a chain of Hypermarket s that range in size from 98,000 square feet (9,000 m&2) to 261,000 square feet (24,000 m&2) with an average size of approximately 197,000 square feet (17,000 m&2). They carry everything a Wal-Mart Discount Store does, as well as a full-line Supermarket (including Meat and Poultry , Baked Goods , Delicatessen , Frozen Foods , Dairy products, Garden Produce and fresh Seafood ). Many Wal-Mart Supercenters also feature a garden center, a Pet Shop , a Pharmacy , a Tire & Lube Express, optical center, one-hour photo processing lab, portrait studio, and numerous alcove shops such as a cellular phone store, hair and nail salons, a video rental store, a family fun center, a branch of a local bank, and possibly a Fast Food outlet. Some locations also sell Gasoline , either through Murphy Oil Corporation , whose Wal-Mart stations are branded as "Murphy USA", Sunoco, Inc. as "Optima", or Tesoro Corporation , who uses the "Mirastar" banner on theirs. The first Supercenter opened in 1988 in Washington, Missouri ; a similar Wal-Mart concept, '' Hypermart USA '', opened in Garland, Texas a year earlier, but all of those stores were later closed or converted into Supercenters. As of May 31 , 2007 , there were 2,326 Wal-Mart Supercenters in the United States . Wal-Mart Neighborhood Market See Also: Wal-Mart Neighborhood Market Wal-Mart Neighborhood Markets are a chain of Grocery Store s that average about 42,000 square feet (3,900 m&2). They offer a variety of products (including a full-line of Groceries , pharmaceuticals, health and beauty aids, photo developing services, and a limited selection of General Merchandise ). The first Neighborhood Market opened in 1998 in Bentonville, Arkansas . As of May 31 , 2007 , there were 118 Neighborhood Markets in the United States . Sam's Club See Also: Sam's Club Wal-Mart operates Sam's Club, a chain of Warehouse Club s that sells Groceries and General Merchandise , often in large quantities or volume. Sam's Club stores are only open to customers who subscribe to a paid, annual membership. Some locations also sell Gasoline . The first Sam's Club opened in 1983 in Midwest City, Oklahoma . According to Wal-Mart's 2006 Annual Report, Sam's Club accounted for approximately 12.7% of fiscal 2006 sales. Competitors of Wal-Mart's Sam's Club division are Costco , and the smaller BJ's Wholesale Club chain operating mainly in the eastern US. As of May 31 , 2007 , there were 584 Sam's Clubs in the United States . Wal-Mart International Wal-Mart's international operations comprise 2,701 stores in 14 countries outside the United States." Wal-Mart Announces Sale of German Business ." ''Wal-Mart.'' July 28 , 2006 . Retrieved on August 15 , 2006 . According to Wal-Mart's 2006 Annual Report, International accounted for approximately 20.1% of fiscal 2006 sales. Wholly owned operations are located in Argentina , Brazil , Canada , Puerto Rico and the United Kingdom (UK). With 1.8 million employees worldwide, the company is the largest private employer in the US and Mexico , and one of the largest private employers in Canada.." ''Wal-Mart.'' Retrieved on August 12 , 2006 . ]] Wal-Mart has operated in Canada since their acquisition of the Woolco division of , Richmond Hill , Vaughan , Cambridge , Pickering , and Toronto ). In December 2006, conversion of a Wal-Mart Discount Store into a Wal-Mart Supercentre has begun in Lethbridge, Alberta, making it the 7th in Canada and the first in Western Canada. , China ]] Sales in the fiscal year 2006 for Wal-Mart's UK subsidiary, ASDA (an abbreviation of ASquith and '''DA'''iries), were 42.7% of the International segment sales. In contrast to Wal-Mart's US operations, ASDA was originally and remains primarily a grocery chain, but it has a stronger focus on non-foods than most UK supermarket chains (a notable exception is Tesco , UK's largest grocery & Non-food retailer). At the end of fiscal year 2006, there were 236 ASDA stores, 10 George stores, 5 ASDA Living and 43 ASDA small stores. In addition to its wholly owned international operations, Wal-Mart has joint ventures in .'' January 31 , 2006 . Retrieved on July 26 , 2006 . In 2004, Wal-Mart bought the Bompreço supermarket chain, composed of 116 stores. Bompreço is the major supermarket chain in Northeastern Brazil . In late 2005, Wal-Mart took control of the Brazilian operations of Sonae Distribution Group through its new subsidiary, WMS Supermercados do Brasil, thus acquiring control of the Nacional and Mercadorama supermarket chains, the leaders in Rio Grande Do Sul and Paraná states. None of those operations were rebranded. As of August 2006, Wal-Mart operates 71 Bompreço stores, 27 Hiper-Bompreço stores, 15 Balaio stores and 3 Hiper-Magazines (all originally part of Bompreço). It also runs 19 Wal-Mart Supercenters, 13 Sam's Club stores and 2 Todo Dia stores. With the acquisition of Bompreço and Sonae, Wal-Mart is currently the third largest supermarket chain in Brazil, behind Carrefour and Pão De Açúcar . In July 2006, Wal-Mart announced its withdrawal of operations from .'' July 28 , 2006 . Retrieved on July 31 , 2006 . The sale was completed in Wal-Mart's fiscal third quarter. Private label brands See Also: List of Wal-Mart brands Today, approximately 40% of products sold in Wal-Mart are .'' August 21 , 2006 . Retrieved on August 23 , 2006 . CORPORATE AFFAIRS Wal-Mart's business model is based on selling a wide variety of general merchandise and marketing, at "always low prices." The company refers to its employees as "associates." All Wal-Mart stores in the US and Canada also have designated "greeters", whose general role is to welcome shoppers at the store entrance, and play a role in loss prevention.Mikkelson, Barbara. " Code Adam ." '' Snopes .'' December 31 , 1998 . Retrieved on August 3 , 2006 . Unlike many other retailers, Wal-Mart does not charge a .'' April 20 , 2001 . Retrieved on August 1 , 2006 . Alternatively, they focus on selling more popular products and often pressure store managers to drop unpopular products in favor of more popular ones, as well as manufacturers to supply more popular products. More than 70% of the goods sold in Wal-Mart are manufactured in China . {Link without Title} {Link without Title} On , 2006 . Retrieved on October 8 , 2006 . Layaway was offered until November 19 , 2006 , with merchandise pickup by December 8 , 2006 . They plan to focus on alternative payment options, such as increased use of 6 and 12 month zero interest financing. Financial In 2006, Wal-Mart ranked at number 67 of the 100 largest corporations in terms of profitability (profits divided by total revenue), behind retailers , 2007 . Retrieved on Sep 6 , 2007 . Governance Wal-Mart is governed by a thirteen-member Board Of Directors , which is elected annually by Shareholder s. S. Robson Walton , the eldest son of founder Sam Walton , serves as Chairman Of The Board , and H. Lee Scott , the Chief Executive Officer , serves on the board as well. Other members of the board include Aída Álvarez , James Breyer , M. Michele Burns , James I. Cash, Jr. , Douglas N. Daft , David D. Glass , Roland A. Hernandez, Jack C. Shewmaker, Jim C. Walton , Christopher J. Williams, and Linda S. Wolf. Notable former members of the board include .'' August 11 , 2006 . Retrieved on August 11 , 2006 . Competition In .'' May 10 , 2004 . Wal-Mart has struggled in other foreign markets. For example, in .'' April 11 , 2005 . Retrieved on July 27 , 2006 . In July 2006, Wal-Mart announced its withdrawal of operations from Germany because of sustained losses. Its stores are to be sold to German company .'' October 6 , 2003 . Retrieved on July 27 , 2006 . Specifically, ASDA is a distant second to Tesco in the UK grocery market, and as of 2006 the gap is widening, based on market share figures published by TNS Worldpanel . Customer base Each week, approximately 100 million customers, or one-third of the US population, visits Wal-Mart's US stores.Zimmerman, Ann; Hudson, Kris. " Managing Wal-Mart ." .'' August 16 , 2006 . Retrieved on April 3 , 2007 . When measured against other similar retailers in the US, frequent Wal-Mart shoppers were rated the most politically conservative.Birchall, Jonathan; Yeager, Holly. "A purchase on psephology." '' Financial Times .'' August 17 , 2006 . Page 9, US edition. In 2006, Wal-Mart made steps to expand its US customer base, announcing a modification in its US stores from a, "one-size-fits-all," merchandising strategy to a custom-fitting merchandise assortment designed to, "reflect each of six demographic groups – African-Americans, the affluent, empty-nesters, Hispanics, suburbanites and rural residents."" Wal-Mart to drop one-size-fits-all approach ." ''. April 6 , 2006 . Retrieved on April 3 , 2007 .... Employee and labor relations See Also: Criticism of Wal-Mart .'' October 28 , 2003 . Retrieved on July 31 , .'' Retrieved on July 31 , 2006 . In 2005, labor unions created several web pages and front organizations to damage Wal-Mart's public image. These include .'' March 7 , 2006 . Retrieved on August 1 , 2006 . Critics also decry Wal-Mart's employee and workforce relations, .'' Retrieved on February 24 , 2007 . A jury in Massachusetts Superior Court awarded nearly 2 million dollars to a woman who worked at Wal-Mart as a Pharmacist for 9 years. She demanded she be paid a wage differential and bonuses for managers and that she was reprimanded for reporting missing drugs to the U.S. Drug Enforcement Administration. The jury rejected Wal-Mart's claim that she had left the pharmacy unsecured and was fired for numerous violations of company policy. " Mass. Jury awards $2 million in Wal-Mart Bias suit ." '' CNN.'' Retrieved on June 22 , 2007 . Diversity According to a consultant hired by plantiffs in a sex discrimination lawsuit,Conlin, Michelle. " Is Wal-Mart Hostile to Women? " '', 2007 . Retrieved on April 3 , 2007 . Wal-Mart has received improving scores on the .'' January 27 , 2005 . Retrieved on October 1 , 2006 . In January 2006, Wal-Mart announced that, "diversity efforts include new groups of minority, female and gay employees that have started meeting at Wal-Mart headquarters in Bentonville to advise the company on marketing and internal promotion. There are seven so-called Business Resource Groups: women, African-Americans, Hispanics, Asians, Native Americans, Gays and Lesbians, and a disabled group."Kabel, Marcus. " Wal-Mart CEO expects record profits ." '' Deseret News .'' January 5 , 2006 . Retrieved on December 1 , 2006 . Wal-Mart is currently facing a .'' August 31 , 2002 . Retrieved on May 14 , 2007 . REFERENCES EXTERNAL LINKS |
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