Wal-Mart Stores, Inc. doing business as Walmart, is an American
multinational retailing corporation that operates as a chain of
hypermarkets, discount department stores, and grocery stores.
Headquartered in Bentonville, Arkansas, the company was founded by Sam
Walton in 1962 and incorporated on October 31, 1969. As of January 31,
2017, Walmart has 11,695 stores and clubs in 28 countries, under a total
of 63 banners. The company operates under the name Walmart in the United
States and Canada. It operates as Walmart de México y Centroamérica in
Mexico and Central America, as Asda in the United Kingdom, as the Seiyu
Group in Japan, and as Best Price in India. It has wholly owned
operations in Argentina, Brazil, and Canada. It also owns and operates
the Sam's Club retail warehouses.
Walmart is the world's largest company by revenue, according to the
Fortune Global 500 list in 2016, as well as the largest private employer
in the world with 2.3 million employees. It is a family-owned business,
as the company is controlled by the Walton family. Sam Walton's heirs
own over 50 percent of Walmart through their holding company, Walton
Enterprises, and through their individual holdings. Walmart is also one
of the world's most valuable companies by market value, and is also the
largest grocery retailer in the U.S. In 2016, 62.3 percent of Walmart's
US$478.614 billion sales came from its U.S. operations.
was listed on the New York Stock Exchange in 1972. By 1988, Walmart was
the most profitable retailer in the U.S., and by October 1989, it had
become the largest in terms of revenue.Geographically limited to the
South and lower Midwest up to the mid-1980s, by the early-1990s, the
company's presence spanned from coast to coast—Sam's Club opened in
New Jersey in November 1989 and the first California outlet opened in
Lancaster in July 1990. A Walmart in York, Pennsylvania opened in
October 1990, bringing the main store to the Northeast.