Walmart Inc.
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| Walmart Inc. | |
|---|---|
| Name | Walmart Inc. |
| Type | Public |
| Founded | 1962 |
| Founder | Sam Walton |
| Headquarters | Bentonville, Arkansas, United States |
| Key people | Doug McMillon; Greg Penner |
| Products | Retail, grocery, electronics, pharmacy, apparel |
| Revenue | US$573.1 billion (2022) |
| Employees | 2.3 million (2022) |
Walmart Inc. is an American multinational retail corporation operating a chain of hypermarkets, discount department stores, and grocery stores. Founded in 1962 by Sam Walton and incorporated as a public company, it grew from a single store in Rogers, Arkansas into one of the world's largest corporations by revenue, competing with firms such as Amazon (company), Costco, Target Corporation, and Carrefour. The company has played a prominent role in U.S. retailing, influencing supply chains, logistics, and labor debates while expanding into international markets like Mexico, China, United Kingdom, and India.
History
Walmart's origins trace to the opening of the first store in Rogers, Arkansas by Sam Walton after previous retail experience with Ben Franklin Stores and influence from discount pioneers like A&P (The Great Atlantic & Pacific Tea Company), Kroger, and J.C. Penney. Rapid expansion in the 1970s and 1980s followed the development of centralized distribution influenced by innovations from FedEx, United Parcel Service, and concepts seen in Walmart's Sam's Club which paralleled membership models like Costco Wholesale Corporation. Listing on the New York Stock Exchange and strategic use of barcode and inventory systems influenced by IBM and Universal Product Code standards accelerated growth. International moves began with acquisitions such as Seiyu Group in Japan and Asda in the United Kingdom, leading to later divestitures and partnerships with investors like Kroger and sovereign funds including Qatar Investment Authority. Leadership transitions from Sam Walton to the Walton family, to executives like H. Lee Scott Jr. and Doug McMillon paralleled corporate events including antitrust scrutiny linked to cases involving Federal Trade Commission actions and competition with Woolworths Group (UK).
Corporate structure and governance
The company is governed by a board of directors chaired by Greg Penner with executive officers including President and CEO Doug McMillon. As a publicly traded corporation on the New York Stock Exchange, it follows reporting standards set by the Securities and Exchange Commission and accounting principles influenced by Financial Accounting Standards Board. Major shareholders include members of the Walton family, investment firms such as Vanguard Group, BlackRock, and pension funds like California Public Employees' Retirement System. Corporate governance has been shaped by proxy contests, shareholder proposals from groups like Green Century Capital Management and CalPERS, and regulatory oversight from bodies such as the U.S. Department of Labor and Occupational Safety and Health Administration.
Operations and business segments
Walmart operates through multiple segments: Walmart U.S., Walmart International, and Sam's Club. Store formats include Supercenters, Neighborhood Markets, and warehouse clubs, reflecting models similar to Aldi, BJ's Wholesale Club, and IKEA in different categories. Its supply chain relies on a network of distribution centers, trucking fleets, and technology platforms drawing on innovations associated with Oracle Corporation, SAP SE, and Microsoft Corporation. The company has integrated e-commerce platforms to compete with Amazon (company) and partners with logistics providers such as DHL and XPO Logistics. In health and pharmacy segments, Walmart interacts with entities like CVS Health, Walgreens Boots Alliance, and Kaiser Permanente.
Financial performance
Walmart's revenue and earnings are monitored by analysts at firms like Goldman Sachs, Morgan Stanley, and J.P. Morgan Chase. Financial reporting follows quarterly filings to the Securities and Exchange Commission with disclosures influenced by standards from the Financial Accounting Standards Board. The firm's market capitalization has placed it among peers including Apple Inc., Microsoft Corporation, ExxonMobil, and Amazon (company), with credit ratings issued by agencies such as Moody's Investors Service, Standard & Poor's, and Fitch Ratings. Financial performance reflects retail metrics comparable to Target Corporation and Costco Wholesale Corporation, including same-store sales, gross margin, and inventory turnover.
Corporate affairs and controversies
The company has faced controversies involving labor relations with unions like the United Food and Commercial Workers International Union and legal actions involving employment law in courts including the United States Court of Appeals for the Seventh Circuit. Environmental and sourcing controversies have drawn scrutiny from NGOs such as Greenpeace and Human Rights Watch, while antitrust and competitive practices prompted inquiries by the Federal Trade Commission. High-profile legal disputes have included cases related to wages, hours, and benefits, with involvement from organizations like National Labor Relations Board and plaintiff law firms. Product safety and recalls have involved regulators such as the U.S. Consumer Product Safety Commission, and taxation debates implicated authorities like the Internal Revenue Service and state revenue departments.
Corporate social responsibility and sustainability
Walmart has announced initiatives linked to renewable energy and emissions reduction aligning with frameworks from the Science Based Targets initiative and partnerships with renewable providers like NextEra Energy. Sustainability programs address supply chain practices alongside certification schemes such as Forest Stewardship Council and Rainforest Alliance and reporting aligned with standards from the Global Reporting Initiative and the Task Force on Climate-related Financial Disclosures. Philanthropic efforts have been channeled through the Walmart Foundation and collaborations with organizations like Feeding America, United Way, and Bill & Melinda Gates Foundation on health, hunger, and community resilience projects.
International operations and expansion
International expansion has included operations and investments across Canada, Mexico, Chile, China, India, South Africa, and United Kingdom with acquisitions and joint ventures involving groups such as Seiyu Group, Asda Group, and local partners including Bharti Enterprises in earlier deals. Market exits and restructurings have occurred in response to competition from regional chains like Tesco, Metro AG, and regulatory environments involving entities such as the Competition and Markets Authority (United Kingdom). Cross-border e-commerce and logistics strategies engage with platforms like Alibaba Group in Asia and payment systems such as PayPal and Razorpay in select markets.