Wal-Mart
Wal-Mart Stores, Inc. (NYSE: WMT) was founded by Sam Walton in
1962. It is the largest retailer in the world and one of the largest
companies in the world based on revenue; in 2004 it was the largest,
but the recent rise in oil prices has taken at least one oil company
past it. For the fiscal year ending January 31, 2006, Wal-Mart
reported net income of US $11.2 billion on US $316 billion of sales
revenue (3.5% profit margin). It is the largest private employer in
the United States, Mexico and Canada. It holds an 8.9 percent retail
store market share, with $8.90 out of every $100 spent in U.S.
retail stores being spent at Wal-Mart.
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Wal-Mart's impact is hotly debated. Some praise the corporation
for cutting prices on consumer goods, while others criticize it for
harmful impacts in many other realms. Specific areas of controversy
include the company's product origins; treatment of suppliers,
environmental policies, and employees; extraction of public
subsidies; impacts on independent businesses and local communities,
and effects on global trade.
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Wal-Mart operates discount retail department stores selling a
broad range of non-grocery products, though emphasis is now focused
on the "Supercenters" which offer a full line of grocery items.
Wal-Mart also operates Sam's Club, a "warehouse club" (similar to
Costco and BJ's) that sells discounted bulk merchandise to
dues-paying members.
In addition to its wholly-owned international operations, Wal-Mart
owns a 42% stake in The Seiyu Co., Ltd. in Japan, with a proposed
$597 million to increase its stake to 50%. This purchase has been
approved by Seiyu Group shareholders and The Seiyu will be
consolidated into Wal-Mart International in FYE 2006.
In September 2005, Wal-Mart acquired 33.3% of the Central American
Retail Holding Company (CARHCO), and in March 2006, increased its
holdings to 51%. Wal-Mart Central America was formed from the 375
supermarkets and other store formats, operating in 5 Central
American countries: Guatemala, El Salvador, Honduras, Nicaragua and
Costa Rica.
In the past, Wal-Mart operated dot Discount Drugs, Bud's Discount
City, Hypermart*USA, OneSource Nutrition Centers, and Save-Co Home
Improvement stores. In 1990 Wal-Mart acquired The McLane Company, a
foodservice distributor. In 2003 McLane Company was sold to
Berkshire Hathaway.
Wal-Mart stock is publicly traded on the New York Stock Exchange
under the symbol WMT.
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