In February 1988, company founder Sam Walton stepped down as chief executive officer, and David Glass was named to succeed him. Continuing their technological upgrades, they had equipped 90% of their stores with barcode readers by 1988, to further assist in keeping track of their large inventory. In 1985, with 882 stores with sales of $8.4 billion and 104,000 associates, the company expanded into Wisconsin and Colorado, and the first stores opened in Minnesota in 1986.īy the company's 25th anniversary in 1987, there were offices to track inventory, sales, and send instant communication to their stores. The first stores opened in Virginia in 1984.
They also expanded into Indiana, Iowa, New Mexico, and North Carolina and implemented "people greeters" in all of their stores. In April 1983, the company opened its first Sam's Club store, a membership-based discount warehouse club, in Midwest City, Oklahoma. They expanded into Florida and Nebraska in 1982. In 1981, Walmart expanded into the southeastern US market, opening stores in Alabama, Georgia and South Carolina, and acquiring 92 Kuhn's Big K stores. In the same year Walmart also branched out into several new markets, launching its pharmacy, auto service center, and jewelry divisions.ġ980s and 1990s A Wal-Mart store in the 1980s. This was followed by the acquisition of the Hutcheson Shoe Company in 1978. As the company expanded into Texas in 1975, there were 125 stores with 7,500 associates, and total sales of $340.3 million (~$1.35 billion in 2021).īy 1977, Walmart expanded into Illinois and made its first corporate acquisition, assuming ownership and operation of the Mohr-Value stores, which operated in Missouri and Illinois. By this time, Walmart was operating in five states: Arkansas, Kansas, Louisiana, Missouri and Oklahoma, and expanded into Tennessee in 1973, and Kentucky and Mississippi in 1974. The company's first stock split occurred in May 1972 at a market price of $47 (~$234.00 in 2021). By 1967, the company grew to 24 stores across the state of Arkansas, and had reached $12.6 million in sales, and by 1968, the company opened its first stores outside of Arkansas in Sikeston, Missouri, and Claremore, Oklahoma. Responsible for the purchase and maintenance of signage, Walton's assistant, Bob Bogle, came up with the name "Wal-Mart" for the new chain. Inspired by the successes of other discount department store chains, Walton opened the second store in Harrison, Arkansas, that year. The company introduced its warehouse club chain Sam's Club in 1983 and its first Supercenter stores in 1998.ġ960s and 1970s Logo used from 1962 to 1964Īt some point, Sam Walton made the decision to achieve higher sales volumes by keeping sales prices lower than his competitors by reducing his profit margin. The expansion was largely fueled by new store construction, although the chains Mohr-Value and Kuhn's Big K were also acquired.
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The Walmart chain proper was founded in 1962 with a single store in Rogers, expanding outside Arkansas by 1968 and throughout the rest of the Southern United States by the 1980s, ultimately operating a store in every state of the United States, plus its first stores in Canada, by 1995. Harrison in Bentonville, Arkansas, and opened Walton's 5 & 10. The history of Walmart, an American discount department store chain, began in 1950 when businessman Sam Walton purchased a store from Luther E. Sam Walton's original Walton's Five and Dime, now the Walmart Visitor's Center in Bentonville, Arkansas.
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