Wal-Mart

Books Related to Wal-Mart

• Walton, S. (with John Huey) 1992. Sam Walton Made in America: My story. New York: Double day.

• Fishman, T. C. 2005. China Inc.: How the rise of the next superpower challenges America and the world. New York: Scribner

• Shenkar, O. 2006. The Chinese century: The rising Chinese economy and the impact on the global economy, the balance of power, and your job. Wharton School Publishing.

• Forbes Magazine:• October 1985• Sam Walton:

The richest man in America

• Samuel Moore "Sam" Walton (March 29, 1918 – April 5, 1992) was an American businessman and entrepreneur born in Kingfisher, Oklahoma, best known for founding the retailers Walmart and Sam's Club.

Walton as he

Appears in

David H. Hickman

High School’s

Yearbook.

Voted the Most

Versatile

Boy

University of

Missouri 1940

• Walton married Helen Robson on February 14, 1943. They had four children: Samuel Robson (Rob) born in 1944, John Thomas (1946-2005), James Carr (Jim) born in 1948, and Alice Louise born in 1949. 

• In 1945, after leaving the military, Walton took over management of his first

variety store at the age of 26. With the help of a $20,000 loan from his father-in-law, plus $5,000 he had saved from his time in the Army, Walton purchased a Ben Franklin variety store in Newport, Arkansas.

• The sales volume grew from $80,000 to $225,000 in three years.

• He, his wife Helen and his father managed to negotiate the purchase of a new location on the downtown square of Bentonville, Arkansas. 

• The first true Wal-Mart opened on July 2, 1962 in Rogers, Arkansas, called the Wal-Mart Discount City store.

• Wal-Mart Stores Inc. operates retail stores in various formats worldwide.

• 3 segments: Walmart U.S., Walmart International, and Sam’s Club.

• 2,200,000 Employees. Last Reported Date: 03/21/14

• 2014 revenues at Wal-Mart Stores Inc. totaled $473.1B USD,

• While annual earnings equaled $5.11 per share on 02/22/2014.

• If Wal-Mart were a country, its revenues ($473.1B) would make it on par with the GDP of the 25th largest economy in the world by, surpassing 157 smaller countries.

Read more: http://www.businessinsider.com/25-corporations-bigger-tan-countries-2011-6?op=1#ixzz3D2Y13jvz

• Fortune magazine awarded the retailer the No. 1 slot on its annual list of the 500 largest American companies

• If all Walmart sold were new homes, which averaged $268,900 in April, that would be almost 1.59 million homes.

• Today, Walmart operates over 11,000 retail units under 71 banners in 27 countries.

• We employ 2.2 million associates around the world — 1.3 million in the U.S. alone.

• There are another 95 countries with populations smaller than the retailer's sprawling workforce, including Botswana, Kosovo, The Gambia, Trinidad and Tobago, Bahrain, Cyprus, Qatar, Luxembourg, Belize, Iceland, The Bahamas and Greenland.

• Total retail units on July 31, 2014 11,053

• Walmart U.S. 4,281

• Sam's Club

640• Walmart International

6,132

•  

• In 1998, Walton was included in Time's list of 100 most influential people of the 20th Century. 

• Walton was honored for all his pioneering efforts in retail in March 1992, when he received the Presidential Medal of Freedom from President George H. W. Bush.

• Forbes ranked Sam Walton as the richest person in the United States from 1982 to 1988.

• Single out one element:• A Passion to Compete

It is about • Entrepreneurship• Risk• Hard work• Do what it takes to get there• Believing in your idea

• Contributor vs. Taker• Money: Do not spend it. • Be Conservative.• Money never has meant that

much to me, not even in the sense of keeping score.

• We’re not ashamed of having money, but I just don’t believe a big showy lifestyle is appropriate for anywhere…

• What motivates the man is the desire to absolutely be on top of the heap.

• It is not money.

• I have always pursued everything I was interested in with a true passion—some would say obsession—to win.

• I’ve set extremely high personal goals.

• Secrets to campus leadership

• Speaking to people coming down the sidewalk before they speak to you.

• I would call them by name.

• Small-town strategy• Ben franklin variety store in

Newport, Arkansas—7,000 people

• I’ve always believed in goals, so I set myself one:

• I wanted my little Newport store to be the best, most profitable variety store in Arkansas within five years.

• SMART Goals

• You can learn from everybody.• I didn’t just learn from reading

every retail publications I could get my hands on, I probably learned the most from studying what John Dunham was doing across the street.

• He was always looking for a way to do a better job. Helen

• I bought an item for 80 cents, I found that by pricing it at $1.00 I could sell three times more of it than by pricing it at $1.20.

• Discounting: By cutting your price, you can boost your sales to a point where you earn far more at the cheaper retail price than you would have by selling the item at the higher price. (p. 25)

• I think my constant fiddling and meddling with the status quo may have been one of my biggest contributions to the latter success of Wal-Mart.

• I was real involved in the community and kept my ear to the ground pretty good.

• He is always thinking up new things to try in the store.

• I didn’t want all my eggs in one basket.

• This store was ahead of its time too, self-service all the way, unlike the competition.

• And like most other overnight success, it was about twenty years in the making.

• A percentage of nothing is still nothing.

• He rolled up his sleeves and worked every day until we built that store from scratch.

• Looking around for ideas and items that would make our stores stand out.

• Most everything I’ve done I’ve copied from somebody else.

• David Glass:• 1. He gets up every day

bound and determined to improve something.

• 2. He is less afraid of being wrong than anyone I’ve ever known.

• Whatever money we made in one store, we’d put it in another new one, and just keep on going.

• Herb Gibson, a barber, started his stores with a simple philosophy:

• Buy it low, stack it high, sell it cheap.

• The first big lesson: There was much, much more business out there in small-town America than anybody, including me, had ever dreamed.

• Customer service and Satisfaction guaranteed

• Keep our prices below everybody else’s

• Keep the expenses down

• List price = $1.98• Sell for $1.25

• No,• We paid 50 cents for it. Mark it up 30%,

and that’s it.

• Reducing expenses• Improving efficiency

• We wanted everybody to know what was going on and everybody to be aware of the mistakes we made.

• Check everyone who is our competition. And don’t look for the bad. Look for the good.

• We’re concerned with what they’re doing right, and everyone is doing something right.

• Stay flexible. • We always have to stop and

look at stores—any kind of stores—on the way to wherever was were headed.

• Sam never went by a Kmart that he didn’t stop and look at it.

• #1 The average U.S. family now spends more than $4000 a year at Wal-Mart.

• #4 Wal-Mart now sells more groceries than anyone else in America does.  In the United States today, one out of every four grocery dollars is spent at Wal-Mart.

• #5 Amazingly, 100 million customers shop at Wal-Mart every single week.

• #6 Wal-Mart has opened more than 1,100 "supercenters" since 2005 alone.

• #8 If Wal-Mart was an army, it would be the second largest militaryon the planet behind China.

• #9 Wal-Mart is the largest employer in 25 different U.S. states.

• #10 According to the Economic Policy Institute, trade between Wal-Mart and China resulted in the loss of 133,000 manufacturing jobs in the United States between 2001 and 2006.

• #11 The CEO of Wal-Mart makes more in a single hour than a full-time Wal-Mart associate makes in an entire year.

• #12 Tens of thousands of Wal-Mart employees and their children are enrolled in Medicaid and are dependent on the government for healthcare.

• #13 Between 2001 and 2007, the value of products that Wal-Mart imported from China grew from $9 billion to $27 billion.

• #14 Amazingly, 96 percent of all Americans now live within 20 milesof a Wal-Mart.

• #15 The number of "independent retailers" in the United States declinedby 60,000 between 1992 and 2007.

• #16 According to the Center for Responsive Politics, Wal-Mart spent 7.8 million dollars on political lobbying during 2011.  That number does not even include campaign contributions.

• #17 Today, Wal-Mart has five times the sales of the second largest U.S. retailer (Costco). Michael Snyder, on July 4th, 2012

• September 23, 2014, NPR News• Marketplace• Sarah McCanumon • At some Wal-Marts, health care in your

shopping cart• North Augusta, South Carolina—On-site

primary care clinics:

• $40 for a medical checkup with a nurse practitioner

• For Wal-Mart Employees on the company health plan.

• It is $4.

• In areas with high rates of chronic disease and a shortage of healthcare providers

• In 2006, $4 generic prescription drug program

• It caused other pharmacies to follow suit.

• Dean Harris Merman, Tufts University School of Medicine

• Technology is making it easier for nurse practitioners to stay in touch with doctors

• Wal-Mart is very much into rural areas.