Wal- Mart was founded in 1962 by Sam Walton when he opened the company’s first store in Arkansas. Wal-mart was officially incorporated in 1969. Wal-Mart began selling shares in 1970. It experienced its first 100% split in 1971, and operated in 5 states at the time. In 1972 Wal-Mart was approved and listed on the New York stock exchange and its stock split a second time. In 1979 Wal-Mart became the first company to reach 1 billion in sales in such a short period. In 1983, Forbes magazine ranked Wal-Mart number 1 among general retailers for the eighth straight year, and its stock split for the sixth time. By the end of the decade, Wal-Mart was in 29 states. In 1991, Wal-Mart stepped into the international market with the opening of a retail unit in Mexico City. They formed an international division in 1993. By 1995, Wal-Mart was in all 50 states. Wal-Mart Stores Inc. operated 1,995 stores, 239 Supercenters, 433 Sam’s Clubs and 276 international stores with sales of $93.6 billion and 675,000 associates. They entered China through a joint venture agreement in 1996. In 1999, Wal-Mart became the largest private employer in the world, with 1,140,000 total associates, and their stock split for the 11th time. As of 2005, Wal-Mart employed more than 1.6 million associates in more 6,200 facilities around the world including 3,800 U.S. stores and 3,800 international units – with $312.4 billion in sales. Wal-Mart also marked a significant turning point in 2005 with a new commitment to bring environmental sustainability into its business. Finally, in 2007 Wal-Mart and Bharti Enterprises announced an agreement to establish Bharti Wal-Mart Private Limited, a joint venture for wholesale cash-and-carry and back-end supply chain management operations in India.
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