Wal-Mart is an American public corporation that runs a chain of large, discount department stores. Its history consists of innovation, leadership and success. It started with a single store in Rogers, Arkansas in 1962 and has grown to what is now the world’s largest retailer. Today, this retailing pioneer has annual revenues of over $100 billion, 3,000 stores and more than 750,000 employees worldwide. Wal-Mart operates with the attitude to provide everyday low prices and superior customer service.
Wal-Mart functions in Mexico as Walmex, in the United Kingdom as ASDA, and in Japan as Seiyu. It has owned operations in Argentina, Brazil, Canada, Puerto Rico, and the UK. The company's operations in South America and China are highly successful, but it sold its retail operations in South Korea and Germany in 2006 due to sustained losses in highly competitive markets.
Wal-Mart has had many recent initiatives, for example; in October 2005, Wal-Mart announced they would implement several environmental measures to increase energy efficiency. The primary goals included spending $500 million a year to increase fuel efficiency in Wal-Mart’s truck fleet by 25% and reduce greenhouse gas emissions by 20%. Furthermore, their aim was to reduce energy use at stores by 30%; and cut solid waste from U.S. stores and Sam’s Clubs by 25%.
Wal-Mart has been criticised by some community groups, women's rights groups, grassroots organisations, and labour unions. Specific criticisms include the company's extensive foreign product sourcing, low rates of employee health insurance enrolment, resistance to union representation, and alleged sexism. Wal-Mart became an international company in 1991 and two years later, Wal-Mart International was created to oversee the growing opportunities for the company worldwide. They have 2,982 units in thirteen markets which can prove that their low price message can be clearly be understood in any language....