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Samuel Moore Walton (March 29, 1918 – April 5, 1992) was an American business magnate best known for founding the retailers Walmart and Sam's Club, which he started in Rogers, Arkansas, and Midwest City, Oklahoma, in 1962 and 1983 respectively. Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest ...
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] The Walmart chain proper was founded in 1962 with a single store in Rogers, Arkansas, expanding inside Oklahoma by 1968 and ...
Bentonville has been home to Walmart since Sam Walton purchased a store on the town square in 1950 and renamed it Walton's 5 & 10. The retailer continued a rapid growth, but Helen Walton wished to remain in Bentonville to raise the family, and thus by the time Walmart became the #1 Fortune 500 in 2002, it was still based in Bentonville.
By 1984, Sam Walton had begun to source between 6% and 40% of his company's products from China. [39] In 1988, Walton stepped down as CEO and was replaced by David Glass. [40] Walton remained as chairman of the board. During this year, the first Wal-Mart Supercenter opened in Washington, Missouri. [41]
In September 1945, Sam and Helen Walton opened a Ben Franklin "five and dime", their first retail store, in Newport, Arkansas. In 1950, they moved to Bentonville, Arkansas, and in 1962, they opened the first Wal-Mart. Sam Walton credits her for having the idea of the profit-sharing plan with the company's associates. [2]
Even the Walmart Museum, housed in some of the company’s original store locations, is getting a facelift, with a new interactive, life-sized hologram of founder Sam Walton, who died in 1992.
On May 9, 1950, Sam and Helen bought out a Harrison's variety store in Bentonville, Arkansas. They opened a new Ben Franklin store and named it Walton's 5&10. Photo: Courtesy of The Walmart Museum
Sam Walton (son-in-law) Leland Stanford "L.S." Robson (January 21, 1884 – August 10, 1973) was an American businessman, lawyer, politician, banker, and rancher. He was the father of Helen Walton and father-in-law of Walmart and Sam's Club founder Sam Walton. Robson provided Sam Walton with the loan to open his first store, and was one of ...