Wal-Mart Stores, Inc. (NYSE: WMT) was founded by Sam Walton in 1962. It is the largest retailer in the world and was formerly the largest corporation in the world based on revenue for 2004 (see Fortune Global 500). In 2006, it was surpassed by three of the major global oil companies.
Wal-Mart operates retail department stores selling a range of non-grocery products, though emphasis is now focused on the "supercenters" which include more grocery items. Wal-Mart also operates Sam's Club, a "warehouse club" (similar to Costco and BJ's) that sells merchandise, often in large quantities or volume, to customers who pay an annual fee for the privilege of shopping there.
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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, and it is a component of the Dow Jones Industrial Average.
