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Mar 26, 2015 · Sam Walton was an American businessman best known for founding the retail chain Walmart, which grew to be the world’s largest corporation. Who Was Sam Walton? Sam Walton opened the first Walmart in...
Samuel Moore Walton (March 29, 1918 – April 5, 1992) was an American businessman and entrepreneur best known for founding the retailers Walmart and Sam's Club. Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest private employer in the world.
Apr 01, 2021 · Sam Walton, in full Samuel Moore Walton, (born March 29, 1918, Kingfisher, Oklahoma, U.S.—died April 5, 1992, Little Rock, Arkansas), American retail magnate who founded Walmart in 1962 and developed it, by 1990, into the largest retail sales chain in the United States.
Sam Walton Founder of Wal-Mart Stores Inc. Founded: 1962 " There is only one boss-the customer.
Sam Walton was an American businessman who founded the Wal-Mart Stores Inc. which grew to be the world’s largest corporation by revenue as well as the biggest private employer in the world. Founded in 1962, today the company has thousands of stores all over the world.
Aug 20, 2004 · What Sam Walton developed was a complete philosophy of business, one he outlined in his autobiography, “Made in America: My Story.” One of them in particular, value your associates, was something...
- Pre-Walmart Years
- Starting Walmart
Walton attended the University of Missouri where he was elected senior class president. To pay the tuition bill, he worked as a lifeguard, waiter, and newspaper delivery driver. He graduated in 1940 with a degree in economics. Following graduation, he aspired to attend the Wharton School of Business at the University of Pennsylvania, but quickly found he couldn't afford it. Instead, he took a job as a manager trainee at J.C. Penney in Des Moines, Iowa, where he worked for 18 months before serving in the Army during World War II. After the war, Walton opened his first store, a Ben Franklin franchise, in Newport, Arkansas, on Sept. 1, 1945, after his wife insisted she would not live in a town of more than 10,000 people. In less than two decades, he owned 15 of the franchised stores. While still operating his Ben Franklin franchises, Walton approached Herbert Gibson, founder of an already-successful discount chain in the south, to discuss the possibility of a partnership. Rebuffed for...
The first Walmart opened in 1962 in Rogers, Arkansas. Stores originally were located within a day's driving distance from the company's distribution center to ensure almost instantaneous restocking. Walmart's supply chain was so efficient it would order a product and have it sold in three days while having to pay vendors every thirty days. Sales increased from $313 million to $1.2 billion during the 1970s while the number of stores increased more than eightfold. Much of the increase came from bank debt, which was paid off mostly with proceeds from the company's 1970 initial public offering. In 1991, Walmart surpassed Sears, Roebuck & Company to become the country’s largest retailer. Sears fell to third place after Walmart and Kmart. In that same year, as the country was mired in an economic downturn, Walmart increased sales by more than 40%.
Walmart embraced technology before many other companies. In the early 1980s, the business was one of the first to utilize UPC barcodes to automate the inventory process. In 1983, the business spent tremendous amounts of capital on a private satellite system that could track delivery trucks, speed credit card transactions, and transmit audio and video signals and sales data. Walmart later introduced online ordering with free pickup and mobile apps. Through the end of 2018, Walmart still was one of the largest companies in the world, with a market capitalization of more than $275.8 billion.
- Early Life & Childhood
- Personal Life & Death
- Legacy – First Stores
- Legacy – Wal-Mart
- Wal-Mart Today
Sam Walton was born in Kingfisher, Oklahoma and lived on the family farm. The farm was owned by his parents, Thomas Gibson Walton and his mother, Nancy Lee. He lived on the farm until 1923. Due to the Great Depression, Walton's father had to move the family out of the farm and had to travel from city to city while working for his brother. Walton, while attending school in Shelbina, Missouri, became the youngest Eagle Scout in the Missouri State History. In later life, this success was continued when Walton was awarded the Distinguished Eagle Scout Awardfrom the Boy Scouts of America. As time went on, the Walton family relocated to Columbia, Missouri. Walton was recorded to have been a very helpful child, assisting his family in day to day chores such as milking the family cow and delivering the milk to the family's customers. Frequently, after his days of work, he would set about completing his paper route for the Columbia Daily Tribune. Alongside this, Walton also sold magazine sub...
Sam Walton married Helen Robsonon February 14th, 1943. During their marriage, they had four children. These children were Samuel Robson (1944), John Thomas (1946), James Carr (1948) and Alice Louise (1949). In his free time, Walton and Helen were active members of the Bentonville Church of Christ. Walton served as an Elder and as a Sunday School teacher. The Walton family made considerable donations to this congregation over the course of his lifetime. Walton died on Sunday, April 5th, 1992. He died of the blood cancer known as multiple myeloma. He was admitted to a hospital in Little Rock, Arkansas. He was cremated, and his remains were delivered to Bentonville Cemetery.
Sam Walton left the military in 1945. From here, he became the manager of his first variety store. With a $20,000 loan from his new father-in-law in addition to the $5,000 he had saved from the Army, Walton invested in a Ben Franklinstore in Newport, Arkansas. In three years, Walton had turned sales from $80,000 to $225,000. After some disagreement with the landlord, Walton decided to purchase a new store in downtown Bentonville. The landlord bought the store's inventory at the time for £50,000 and Walton then left. Over the next three years, Walton increased the profits of his new store from $72,000 a year to $175,000. Over the following years, Walton and his brother, Bud would continue to scout out potential store locations and would log thousands of flight hours over his career. In 1954, Walton and Bud opened a store in a shopping mall in Ruskin Heights, Kansas City, Missouri. From here, Walton continued to open stores, encouraging his managers to run the stores properly by letti...
Sam Walton opened hisfirst Wal-Mart store on July 2nd, 1962. It was located in Rogers, Arkansas. Walton set about establishing his stores in small towns rather than big cities and worked slowly in logistics. He ensured that stores were not located more than a days drive for Wal-Marts regional warehouses. He also put substantial effort into only buying American made products and using American manufacturers. In 1977, Walton had 190 stores. He rapidly increased this figure to 800 storesby 1985.
In 1998, Sam Walton was featured in the 100 most influential people of the 20th Century, by Time magazine. He was included in this list for his efforts and innovations in the retail industry. He also received the Presidential Medal of Freedomfrom George W. Bush in March 1992. Walton was ranked the Richest Person in the United Statesfrom the years 1982 to 1988 by Forbes. He only lost this spot when Forbes editors began to credit Walton and his children for the success jointly. In the University of Arkansas, the Business College is named the Sam M. Walton College of Business in his honor. Walton was also given a place in the Junior Achievement U.S. Business Hall of Famein 1992.
Since Sam Walton's first store, Wal-Martnow operates throughout the U.S. and in more than 15 international locations. These locations are: Argentina, Brazil, Canada, Chile, China, Costa Rica, El Salvador, Guatemala, South Africa, Botswana, Ghana, Malawi, Japan, Namibia, Mexico, United Kingdom and many many more. Wal-Mart went on the public stock exchange in 1970. The first stock was sold at $16.50 per share. Just two years later, the company was listed on the New York Stock Exchange. By 1980, the company had reached $1 billion in annual sales. By the early 1990s, the company sales had rocketed to $45 billion. Sam Walton stepped down from his CEO position in 1988 but remained an active member of the company until 1992. The company is renowned as the largest private sector employer in the world.
Sam Walton was passionate about giving back to society. He created the Wal-Mart foundationin 1979. This foundation was set up to give opportunities to unprivileged people, giving them sustainability and a sense of community. He was also famous for donating large sums of money to charitable causes and churches.
Sam Walton was a brilliant American businessman best remembered as the founder of the WalMart Stores Inc. which eventually grew to be the largest corporation in the world (by revenue) as well as the leading private employer in the world. Founded in 1962, the company currently boasts of thousands of stores across the world.
http://storiesofusa.com/greatest-american-entrepreneurs-and-business-professionals-in-the-usa/#samuel-moore-sam-walton - Sam Walton Biography WalMart History
- 5 min
- Randy King
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