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Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores in the United States and 23 other countries. It is headquartered in Bentonville, Arkansas. The company was founded by brothers Sam and James "Bud" Walton in nearby Rogers, Arkansas in 1962 and incorporated under Delaware General Corporation Law on October 31, 1969. It also owns and operates Sam's Club retail warehouses.
Samuel Moore Walton was an American business magnate best known for founding the retailers Walmart and Sam's Club, which he started in Rogers, Arkansas and Midwest City, Oklahoma in 1962 and 1983 respectively. Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest private employer in the world. For a period of time, Walton was the richest person in the United States. His family has remained the richest family in the U.S. for several consecutive years, with a net worth of around US$240.6 billion as of January 2022. In 1992 at the age of 74, Walton died of blood cancer and was laid to rest at the Bentonville Cemetery in his longtime home of Bentonville, Arkansas.
Kmart, formerly legally registered as Kmart Corporation, now operated by Transformco, is a department store chain, and an online retailer in the United States and operates six remaining Kmart big-box department stores — 3 in the US Virgin Islands and one each in Kendale Lakes, Florida ; Bridgehampton, New York; and Tamuning, Guam.
Woolco was an American-based discount retail chain. It was founded in 1962 in Columbus, Ohio, by the F. W. Woolworth Company. It was a full-line discount department store unlike the five-and-dime Woolworth stores which operated at the time. At its peak, Woolco had hundreds of stores in the US, as well as in Canada and the United Kingdom. While the American stores were closed in 1983, the chain remained active in Canada until it was sold in 1994 to rival Walmart, which was looking to enter the Canadian market. All of the former UK Woolco stores were sold by Kingfisher, which had bought the UK Woolworth business, to Gateway which subsequently sold them to Asda.
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FedMart was a chain of discount department stores started by Sol Price, who later founded Price Club. Originally a discount department store open to government employees paying a $2 per family membership fee, FedMart earned four times more than its investors had projected in its first year. Over the next 20 years, FedMart grew to include 45 stores, mostly in California, and the Southwest in a chain that generated over $300 million in annual sales. The business expanded to several states in the Southwest United States. Many stores were previous White Front or Two Guys locations. Price later sold two-thirds of the chain to Hugo Mann, a German retail chain, in 1975 and was forced out of his leadership position the following year. FedMart went out of business in 1982.
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The history of Walmart, an American discount department store chain, began in 1950 when businessman Sam Walton purchased a store from Luther E. Harrison in Oklahoma City, Oklahoma, and opened Walton's 5 & 10. The Walmart chain proper was founded in 1962 with a single store in Rogers, expanding inside Oklahoma by 1968 and throughout the rest of the Southern United States by the 1980s, ultimately operating a store in every state of the United States, plus its first stores in Canada, by 1995. The expansion was largely fueled by new store construction, although the chains Mohr-Value and Kuhn's Big K were also acquired.
Ashley Landing is a shopping center in Charleston, South Carolina, United States. It was the first indoor shopping mall in the West Ashley area of Charleston when the complex was fully completed in 1972. The center, located at 1401 Sam Rittenberg Boulevard at the fork of Old Towne Road was developed by Gate City Realty Company of Fort Lauderdale, Florida. Ground was broken for the complex in 1962 with Ashley Plaza opening on April 16, 1964. At its opening the shopping center consisted of J.M. Fields Department Stores joined to a Pantry Pride supermarket, built at a cost of $1.75 million and owned by Sumar Corporation of South Carolina. The locally owned Condon's Department Store, constructed adjacent to Pantry Pride as a freestanding building, became the third tenant when it opened in 1970. The center, originally known as "Ashley Plaza" was noted for its large red and white neon pylon "Ashley Plaza" sign in the center of the parking lot that remained until 1989 when it was destroyed by Hurricane Hugo.
Harding Mall was a shopping mall located in suburban Nashville, Tennessee, United States. It was southeast of downtown at the corner of Nolensville Pike US 31A/US 41A and Harding Place in the Paragon Mills neighborhood. Built in 1966, it was demolished in 2005 for a Walmart. Harding Mall is notable for being the first enclosed shopping mall in the state of Tennessee.
References
- 1 2 "Kuhn's Big K Stores Plans Wal-Mart Tie". New York Times . June 23, 1981.
- ↑ "Kuhn Brothers Name Changed To Big K". Clarksville Leaf-Chronicle. July 2, 1969. Retrieved May 5, 2020.
- ↑ "Big K Plans Stock Offering". The Nashville Tennessean. March 27, 1970. Retrieved May 5, 2020.
- ↑ "The first public offering..." The Boston Globe. April 3, 1971. Retrieved May 5, 2020.
- 1 2 "Big K Planning 7 New Outlets". The Nashville Tennessean. August 20, 1971. Retrieved May 5, 2020.
- ↑ "Big K obtains Greene firm's lease". Johnson City Press Chronicle. January 8, 1972. Retrieved May 5, 2020.
- ↑ "ACQUISITIONS". The Atlanta Journal & The Atlanta Constitution. September 5, 1977. Retrieved May 5, 2020.
- ↑ "33-Store S. Carolina Chain Acquired by Kuhn's-Big K". The Tennessean. September 2, 1977. Retrieved May 5, 2020.