Word: wal-mart
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Dates: during 1983-1983
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...Give me a W!" shouts Sam Walton, 65, the chairman of Wal-Mart Stores, to employees at staff meetings. "Give me an A!" And so forth, down to the last T. Then he gives a final ringing cheer: "WalMart, we're No. 1!" Walton has plenty of reasons to shout. In April, sales at his 570 outlets were up 32% from the previous year. By comparison, Sears' revenues increased just 7.7%, K mart's by 5.5%, and J.C. Penney's were down...
Thanks to a strategy of selling big in small-town stores and deep discounting, Wal-Mart is the fastest-growing major U.S. retailer. It is opening nearly two new stores a week, and its sales are increasing almost three times as fast as the average for the discount-store industry. They totaled $3.4 billion in 1982, up from $2.4 billion the year before. That made Wal-Mart the nation's ninth-largest shopkeeper, well behind the likes of Sears (sales: $30 billion) and K mart ($17 billion), but ahead of such old-time retailers as R.H. Macy and Carter...
...Wal-Mart's profits last year mushroomed to $124.1 million, from $82.8 million in 1981. With first-quarter earnings up 51% over the same year-ago period, to $27.5 million, Wal-Mart has become a Wall Street darling. During the past year, its stock price has tripled, closing last week...
...Wal-Mart is based in the rolling Ozark hill country of Bentonville, Ark. (pop. 8,756). The sleepy mountain town was heretofore known chiefly as the birthplace of Louise McPhetridge Thaden, winner in 1929 of the first cross-country Powder Puff Air Derby for women aviators. Now it is famous as the home of Walton, an individualist who flies his own Piper Aztec, hunts quail, and is worth $500 million to $700 million...