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Overview When Sam Walton founded the first Wal-Mart in 1962 the idea of bringing in a discount-shopping store into rural America was almost unheard of except for the local five and dime stores When Walton noticed that he had a lot of competition from regional discount chains him and his wife Helen traveled the country to study other new retailing concepts and were convinced that it was the wave of the future With Waltons vision Wal-Mart grew to be a multi-billion dollar international company operating about 4600 stores around the world Wal-Mart competes in many industries that include 5331- Retail-Variety stores 5411-Grocery stores 5311-Department stores 5812-Eating Places 5399-Miscellaneous General Merchandise store and 5912-Drug stores and Proprietary stores Since there are several industries to choose from our group chose to go with retail-variety stores SIC code 5331 These establishments are primarily engaged in the retail sale of a variety of merchandise in the low and popular price ranges Sales are made on a cash and carry basis with the open-selling method of display and customer selection of merchandise Wal-Marts milestones began in 1962 when the first Wal-Mart was opened in Rogers Arkansas Seven years later the company incorporated as Wal-Mart Stores Inc Then a year later they opened the first distribution center and home office in Bentonville Arkansas and also went public on the New York Stock Exchange Several years later in 1988 the first super center was opened Then in 1991 the first international unit was opened in Mexico City By the turn of the century Discount Store News had named Wal-Mart Retailer of the Century and made Fortune magazines lists of the Most Admired Companies in America and the 100 Best Companies to Work For They were also ranked on Financial Times Most Respected in the World list In 2002 Wal-Mart became number one on the Fortune 500 list and was presented with the Ron Brown Award for Corporate Leadership a presidential award that
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