In 1962, Sam Walton founded Walmart which now happens to be the most popular grocery and departmental store in the United States. Born in times of the Great Depression, Walton’s father who was a farmer, left his profession and shifted to work with his brother in Walton Mortgage Company to serve his family during the financial crisis. Sam completed his studies from various universities in Columbia. Later he also served in military supervising the security at aircraft plants and prisoner of war camps. He ended up at the rank of a captain.
After completing his term in the arm forces, Sam began his own store by taking help from a few people in loans. In three years the value of his sales grew from 80,000 USD to 225,000 USD. After a few years of struggle, the first Walmart started up in July 1962 in Rogers, Arkansas. It was named as Walmart Discount City Store, where he mainly sold American made products at a cheaper rate than the market price. To extend the chain, Sam continued setting up stores in small towns where people didn’t have to travel miles for their basic essentials. His determination paid off when the gradual increase in the number of stores went from 190 to 800 in various parts in just 7 years. It is now privately handled by the Walton family.
Walmart now has 11,484 stores worldwide with a revenue of 523.964 billion USD and a net income of about 14.881 billion USD. According to 2018 reports, it has almost 2.2 million employees working for it.
As per the Forbes Global 2000 list, Walmart ranks at 29th position in the list of the world’s largest public corporation and at 1st when ranked in terms of revenue.
From Sam Walton’s story, one can learn that if you focus on your task, it will definitely reach great heights one day.
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