Wal-Mart Stores Inc Company News
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Big-box retailers can be both affordable and convenient. But should you be shopping at them? Read on to find out.
For more than six decades, the discount megastore Walmart (WMT) has redefined retail. In 2023 alone, the company brought in more than $648 billion dollars in revenue. Beyond the Ticker takes a deep dive into the company’s biggest moments. 1962 Walmart was founded by Sam Walton. Its first location was in Rogers, Arkansas. 1967 The Walton family owned 24 stores and had racked up $12.7 million in sales. 1970 On October 1, 1970, Walmart went public via an IPO on the New York Stock Exchange. Shares opened at $16.50 per share. 1983 The company opened its first Sam's Club in Oklahoma in a bid to compete with Costco’s (COST) wholesale, member-only model. 1988 Founder Sam Walton stepped down as CEO, and David Glass was named his successor. That same year, the first Walmart Supercenter opened in Washington, Missouri, creating what it’s currently known for – a mix of general merchandise and grocery. 1996 Walmart opened its first location in China and surpassed $1 billion in sales for the year. 2000 Walmart.com launched, allowing US customers to shop online – as Amazon.com (AMZN) began to take off. 2017 To compete with Amazon, among other online retailers, Walmart introduced free two-day shipping. 2020-2021 During the pandemic, the retailer boomed as consumers sought out the Covid-19 vaccine, and then, cheaper groceries as inflation picked up. 2024 In late March, Walmart stock reached a record closing high of $61.45 per share. And it only keeps growing – with more than 10,500 stores in 19 different countries. From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street's trending companies and how they transformed into the financial icons they are today. Check out more of our Beyond the Ticker series, and be sure to tune in to Yahoo Finance. Editor's note: This video was produced by Zach Faulds.
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The eldest son of founder Sam Walton has been with the company since 1969 — even longer if you count his job at his father’s original five-and-dime.
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Rob Walton, son of Walmart founder Sam Walton, will retire from the board at the end of his current term, the company said in a proxy filing. Chipotle CEO Brian Niccol will take his place, the company added. Rob Walton started working at the company in 1969 across various roles in senior management.
BENTONVILLE, Ark., April 25, 2024--Walmart Inc. (NYSE: WMT) issued its 2024 Annual Report and filed its Proxy Statement today in preparation for the company’s Annual Shareholders’ Meeting on Wednesday, June 5, 2024.
Walmart’s former chair and long-serving board member Rob Walton, the son of the retail giant’s founder, will retire from the company’s board in June.
The CEO is routinely among the highest-paid CEOs in retail.
(Reuters) -Walmart said on Thursday that Rob Walton, the longest serving member on its board and eldest son of founder Sam Walton, would retire from his position of the big-box retailer at the end of his term on June 5. Walton served as the company's chairman of the board of directors after his father died in 1992 and held the post until June 2015. Walmart also disclosed seven shareholder proposals in the regulatory filing, including some repeated calls for conducting an independent racial equity audit and human rights impact assessment in its supply chain.
Walmart said on Thursday that Rob Walton, the longest serving member on its board and eldest son of founder Sam Walton, would retire from his position of the big-box retailer at the end of his term on June 5. Walton served as the company's chairman of the board of directors after his father died in 1992 and held the post until June 2015. Walmart also disclosed seven shareholder proposals in the regulatory filing, including some repeated calls for conducting an independent racial equity audit and human rights impact assessment in its supply chain.
The National COSH named Walmart to its annual "Dirty Dozen" list, alleging unsafe work conditions and pointing to worker deaths.
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- Wal-Mart's China imports cost 400,000 U.S. jobs during 2001-2013: report. [Reuters] - United States goods trade deficit with China increased almost fourfold to $324.2 billion in the 12 years till 2013, with Wal-Mart accounting for $48.1 billion of the total, the EPI said. "Wal-Mart has aided China's abuse of labor rights and its violations of fair trade (norms) by providing a conduit for the distribution of artificially cheap and subsidized Chinese exports to the United States," the EPI said.
- Wal-Mart's China imports cost 400,000 US jobs during 2001-2013 - report. [Reuters] - Wal-Mart Stores Inc's import of goods from China led to the loss of over 400,000 jobs in the United States between 2001 and 2013, according to a report from a U.S.-based non-profit think tank. United States goods trade deficit with China increased almost fourfold to $324.2 billion in the 12 years till 2013, with Wal-Mart accounting for $48.1 billion of the total, the EPI said. "Wal-Mart has aided China's abuse of labor rights and its violations of internationally recognized norms of fair trade by providing a vast and ever-expanding conduit for the distribution of artificially cheap and subsidized Chinese exports to the United States," the EPI said.
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Wal-Mart Stores Inc Short Company Overview:
Wal-Mart Stores, Inc. operates discount stores, supercenters, and neighborhood markets. The Company's discount stores and supercenters offer merchandise such as apparel, housewares, small appliances, electronics, and hardware. Walmart's markets offer a full-line supermarket and a limited assortment of general merchandise. The Company operates nationally and internationally.
