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The history of Walmart, an American discount department store chain, began in 1950 when businessman Sam Walton purchased a store from Luther E. Harrison in Oklahoma City, Oklahoma, and opened Walton's 5 & 10. [1] .
Since the first Walmart opened in 1962 in Rogers, Arkansas, we've been dedicated to making a difference in the lives of our customers. Today, we're helping communities save money and live better all over the world.
The company was incorporated under Delaware General Corporation Law as Wal-Mart, Inc. on October 31, 1969, and changed its name to Wal-Mart Stores, Inc. in 1970. The same year, the company opened a home office and first distribution center in Bentonville, Arkansas. It had 38 stores operating with 1,500 employees and sales of $44.2 million.
The Bentonville, Ark.-based company traces its roots back to 1962 when it was founded by a local business man named Sam Walton, with the first location in nearby Rogers, Ark.
On 2 July 1962, Sam Walton opened the first Walmart store in Rogers, Arkansas and this was his first store that was not a part of the Ben Franklin franchise. Sam’s assistant, Bob Bogle, was the one to come up with the name “Wal-Mart” for the new chain and this name stuck on since then.
In the 1980s, the company reaches several major milestones: the first Sam’s Club opens, serving small businesses and individuals alike; the first Supercenter opens, in Washington, Missouri; and the company’s strategy of Every Day Low Prices thrives.
In 1962, he opened his first “Wal-Mart Discount City,” in Rogers, Arkansas. Two years later, he opened two more Walmarts, one in Harrison and another in Springdale. From its hub in Bentonville, Walmart expanded into Missouri and Oklahoma, bringing low prices to underserved rural communities.
First opened in 1962 by Sam Walton, Walmart quickly exploded into a retail empire turning over hundreds of billions of dollars in revenue. Here is a look at how he built it.
The history of Walmart, an American discount department store chain, began in 1950 when businessman Sam Walton purchased a store from Luther E. Harrison in Oklahoma City, Oklahoma, and opened Walton's 5 & 10.
Walmart started with one man. In 1962, Sam Walton began with just one store and one mission: help people save money so they could live better. As a growing global digital enterprise and with over 11,500 stores, we maintain Mr. Sam’s vision, but now, we are able to help more customers than ever.