Word: discounts
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...came on. He seemed very no-nonsense. "Alright," he said. "You wanna buy some arms? Discount is my middle name...
When a Wal-Mart discount store opens in your town -- which could happen soon if it has not already -- keep an eye out for a gray-haired 69-year-old wearing a flannel shirt and khaki pants. He may suddenly appear behind any Wal-Mart checkout counter to help the clerk approve a personal check. Or you may see the same grandfatherly figure driving his red-and-white 1984 Ford pickup through the parking lot, counting customers' cars as he goes. Or he may show up at the loading dock with a bag of doughnuts for a surprised crew...
...billion and growing. But Walton spends virtually no time counting his money, or even bothering to spend it. He is too busy as one of America's most restless and evangelical corporate leaders. Thanks to his uncanny ability to motivate employees and slash expenses, the chain of discount stores Walton started just 25 years ago has become the fastest-growing and most influential force in the retailing industry. "It's the best-managed company I've ever followed, and I've looked at hundreds," says Margaret Gilliam, a vice president at the First Boston investment firm...
...mostly linoleum floored and arrayed with row upon row of simple racks and counters, punctuated by signs pointing to particular bargains. But the no-frills atmosphere suits the predominantly blue-collar clientele just fine. From shotgun shells to laundry soap, most products are well-known brands at deep discounts. Wal-Mart, unlike many other discount outlets, offers more: well-scrubbed aisles, fully stocked shelves and relentlessly upbeat clerks. "It's attitude," explains Wal-Mart Vice Chairman Jack Shewmaker. "Give me workers with the right attitude...
...month trainee. After serving in the Army, he pooled his savings and borrowed $25,000 to buy a Ben Franklin store in Newport, Ark., in 1945. By the late 1950s he owned more than a dozen similar stores, but decided that the future was in discounting rather than in five-and-dimes. After studying a K mart in Chicago, Walton and his younger brother James, now a company senior vice president, opened the first Wal-Mart Discount City outlet in 1962, in Rogers, Ark. At the turn of the decade his stores had spread to more than 30 locations...