Walmart is one of the most successful retail chains in the United States, and lately it has announced several store closures. Today, we’re going to tell you 8 little-known facts about them.
Walmart is famous for its low prices, for its locations in various parts of the United States and around the world, for its contribution to job creation, and because it seems that most of the things they put out are usually successful and make their business expand. Even with the store closings that have been announced in recent weeks, Walmart maintains its leadership as one of the strongest retail chains.
Today, we are going to dedicate this article to tell you some little known facts about Walmart, so there is a good chance you didn’t know them. Take note!
1. Walmart is the largest company in the world.
And with this we want to tell you that it is one of the largest in the world. Its sales report profits of almost half a trillion dollars a year. It is also considered one of the most important international employers, since its workforce is made up of around 2.3 million employees.
2. Who is the founder of Walmart?
Businessman Sam Walton, who was almost fired from his job at JCPenney, where he worked as a management trainee, for keeping his books in disarray.
3.- The failure in Germany
Yes, just as you read it, it seems that everything Walmart does is successful, however, in Germany it was not like that. In this country they had to close all their stores, since their business formula was not well accepted.
4.- The first store was a franchise
This is how Walmart started as a business in the world of retail stores. Sam Walton, the founder, began by buying a franchise of Ben Franklin, a convenience store in the United States.
5.- They achieved rapid expansion
Walmart’s success could be seen in a short period of time. Walmart’s first store was the Walmart Discount City, which opened in 1962. In its first year of opening, it managed to sell $1 million dollars.
That helped them expand rapidly, achieving 18 stores in just five years. Their first five years, to be more exact.
6.- Walmart’s first store outside the United States
Walmart became international when it opened its first store outside the country, in Mexico. It was under the Sam’s Club brand in 1991.
7.- The CEO started working as a shipper
Doug McMillon joined Walmart when he was a teenager. His first job was unloading merchandise from the company’s trucks. His intelligence and charisma earned him several promotions until he managed to position himself as the company’s president and CEO in 2014.
8.- Walmart allows its staff to be promoted.
According to official figures, around 75% of Walmart’s administrative staff started as associates with an hourly wage.