Walmart has become a global benchmark in the retail sector, with a presence in 24 countries and over 10,000 stores. Its success is based on a business model centered on offering low prices and a wide variety of products, which has allowed it to win over millions of consumers worldwide.
But, what does the name Walmart mean and what is the origin of this retail giant in Mexico and the world?
What does Walmart mean and how did the name come about?
The name Walmart is a clever acronym that combines the first three letters of its founder’s last name, Sam Walton, with the word “mart,” which in English means “market.”
Thus, “Walmart” translates to “Wal’s market,” a simple and direct name that reflects the essence of the company: providing a market where consumers can find everything they need at affordable prices.
History of Walmart
The company’s history began in 1962 in Bentonville, Arkansas, when Sam Walton opened the first Walmart Discount City store. From the beginning, Walton focused on offering low prices and a pleasant shopping experience for his customers. His business philosophy, based on efficiency and savings, allowed him to expand his business rapidly, opening new stores across the United States.
Walmart’s expansion began in states near Arkansas and eventually spread throughout the United States. As the company grew, it also diversified its offerings, introducing new store formats such as Walmart Supercenters and Walmart Neighborhood Market, which offer a wider range of services and products.
When did Walmart arrive in Mexico?
Walmart arrived in Mexico in 1991 through a joint venture with Cifra, a leading retail company in Mexico at the time. Its first store in Mexico was a Sam’s Club.
As such, the first Walmart Supercenter format opened in 1993 in Mexico City, marking a significant change in the Mexican retail market. Walmart de México became one of the group’s most successful subsidiaries, operating several stores under different formats including Bodega Aurrerá and Sam’s Club.
Who owns Walmart?
In Mexico, Walmart is owned by Walmart de México y Centroamérica, a subsidiary of Walmart Inc. The American company holds a majority stake in the Mexican subsidiary, while the rest of the shares are traded on the Mexican Stock Exchange.
Globally, Walmart Inc. is owned by the Walton family, with Walton Family Enterprises as the main shareholder. The Walton family has maintained control of the company since its founding, ensuring the continuity of the philosophy and values that have made this company a global retail giant.
How many stores does it have worldwide?
It currently has 10,615 branches.
The Walmart group stores are distributed internationally as follows:
- Africa (South Africa, Botswana, Kenya, Lesotho, Malawi, Mozambique, Namibia, Swaziland, and Zambia) – 375 (289 retail and 86 wholesale)
- Canada – 402 retail
- Central America (Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua) – 882 retail
- Chile – 392 (379 retail and 13 wholesale)
- China – 365 (322 retail and 43 wholesale)
- India – 28 wholesale
- Mexico – 2,862 (2,694 retail and 168 wholesale)
The rest of the branches are located in the United States.
Net revenues from Walmart’s worldwide sales
The company’s net sales have gradually increased until last year, when they reached the highest figure at approximately $642.6 billion USD.
Market value
Since joining the Dow Jones in 1997, the company has experienced a gradual increase in its market capitalization. It is the sixth company with the highest market capitalization value at $494.52 billion USD.
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The largest Walmart in Mexico and Latin America
Located at Calzada de Guadalupe 431, in the Gustavo A. Madero delegation, Walmart Tepeyac stands out not only for its size but also for its history and services.
This establishment, which is built on what was once a Ford assembly plant and the Hipermercado Gran Bazar, has consolidated itself as the benchmark for the brand in terms of dimensions.
Operating 24 hours a day, the magnitude of this store requires the supervision of two managers per shift, underscoring its importance within the company’s structure.
The store, which acts as the anchor of Plaza Tepeyac, recently underwent an ambitious remodeling. This update brought the implementation of self-checkout registers, aiming to streamline the shopping process for customers and improve the user experience.
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