Wal-Mart

            After the World War II, the style of retailing in the US evolved into discount merchandising. A discount retail store such as Wal-Mart Stores, Inc. can provide goods for consumers at lower prices by accepting lower margins, while selling greater quantities of goods. In 1945, Wal-Mart founder Sam Walton (brand name comes from Walton) opened his first variety store, and in 1962 he opened his first Wal-Mart Discount City in Rogers, Arkansas. By the end of that decade Walton and his brother (from Bentonville, AR) operated 18 Wal-Mart stores in small towns throughout Arkansas, Missouri, Kansas and Oklahoma. While Wal-Mart went public in 1970 (sales were $44 million for the company), the retail industry became highly competitive, but at the same time the economy became weak due to inflation. Wal-Mart's strategy was to compete with its rivals and lower overhead expenses. The chain of department stores grew rapidly during the 1980s due to diversification of the company. Wal-Mart centered on small-towns first, then moved to large cities, and by the early 1980s Walton had become a billionaire. In 1990 Wal-Mart became the nation's No. 1 retailer (Quick 954; Pereira). .
             Headquarters of the widespread company is still located in Bentonville, Arkansas. Main executives are Sam Walton (Chairman) and H. Lee Scott (President, CEO, and Director) who are the head of about 1.4 million employees. Wal-Mart provides family apparel, health & beauty aids, household needs, electronics, toys, fabrics, crafts, lawn & garden, jewelry and shoes. Also, the company runs a pharmacy department, Tire & Lube Express, and Photo processing center as well. Wal-Mart's corporate management strategy involves selling high quality and brand name products at the lowest price. In order to keep prices low, the company reduces costs by the use of advanced electronic technology and warehousing, and negotiates deals for merchandise directly from manufacturers (Pereira).