The founder of Wal-Mart, Sam Walton, was born in Oklahoma and entered retailing as a management trainee for J. C. Penney's. After his World War II discharge and with the help of his father-in-law, he opened his own department store in 1945. Soon, Walton opened larger stores called Walton's Family Centers with his brother Bud, and by 1962 they owned a total of sixteen variety stores. The first Wal-Mart store was opened in Rogers, Arkansas, in 1962. Walton would continue to expand his retail empire through acquisitions of other stores and by his extraordinary leadership and vision. Wal-Mart became the nation's number-one retailer in 1990 and the first U.S. retailer to expand globally. Sam Walton's contributions to the retail world were honored in March 1992 when he received the Medal of Freedom from President George H. W. Bush. In 2006, its subsidiary Asda launched a new line called Must Haves as a spin-off from its George product line, which is run by Global George division.

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  • Wal-Mart — [Wal Mart] any of a very large group of shops in the US and other countries selling a wide range of goods at low prices. The company also owns the Asda supermarkets in Britain. The first Wal Mart Discount City was opened in 1962 by Sam Walton,… …   Useful english dictionary

  • Wal-Mart — [ wɔl ,mart ] TRADEMARK a large chain of U.S. stores that sell clothing and products for the house and garden at very low prices …   Usage of the words and phrases in modern English

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