On July 2, 1962, the first Walmart store (called Wal-Mart Discount City) was opened in Rogers, Arkansas, by Sam Walton and his brother, James. Here are 5 things you never knew about the world’s largest private employer...
Walmart Is The Largest Private Employer In The World
Walmart has the largest privately-employed workforce in the world with about 2.3 million employees. By extension, the firm is also the world’s biggest family-owned business. Walmart’s widespread global presence comes with some of the biggest overall profits of any retailer today. They make close to half of a trillion dollars a year and own approximately 11,700 stores operating under 59 different names in 28 different countries. For example, Walmart operates as Best Price in India, Asda in the United Kingdom, and Seiyu Group in Japan.
J.C. Penney’s Loss Was Walmart’s Gain Walmart was founded by Sam Walton, who was almost fired from his retail job at J.C. Penney. According to Entrepreneur, while Walton was just a sales trainee at a J.C. Penney in Des Moines, Iowa, "he hated to make customers wait while he fussed with paperwork, so his books were a mess. His boss even threatened to fire him, saying he was not cut out for retail work." Ouch! Walton proved his old J.C. Penney boss wrong when he started his own discount store which became Walmart.
The Graphic At The End Of The Logo Is a "Spark" Some of us remember the days when the logo was a star planted smack in the middle of the "Wal" and the "Mart," but, since 2008, the company's symbol has been a cheery burst. It turns out, that's a "spark," not a flower. "It’s a symbol of the spark of inspiration Sam Walton had when he opened his very first store," the company said in a release. "It’s a symbol of all of the great ideas that have helped to develop our company over the years. And it’s a symbol of the inspiration that’s inside all of us."
Sam Walton’s Daughter Is The Third Richest Woman In The World Alice Walton is the only daughter of Walmart founder Sam Walton and one fof the three living heirs to the company founded by her father. With a net worth of $62 billion according to Forbes, Alice Walton is the third richest woman in the world. Much of Alice Walton’s wealth comes from her shares in Wal-Mart. Alice and her brothers own more than a 50% stake in Wal-Mart and receive substantial dividends from the company. Incidentally, the Waltons are also the richest family in the world. The Walton’s combined income from Wal-Mart is that of 42% of combined lower-income American families.
The Best Selling Item in Walmart May Surprise You If people responded to the question, “What sells the best at Walmart?” their answer probably wouldn’t be bananas. However, that is exactly what the top-selling item at Walmart has been for years. The company sells about 1 billion pounds of bananas annually around the world, which works out to about 32 pounds of bananas every second of the day - that’s a lot of bananas.