The secret of Wal-Marts success :: essays research papers

The worlds largest retailer, Wal-Mart, is moving into Europe, and the UK is its endorsement target after Ger firearmy. BBC News Onlines Tim Weber looks at the secrets behind the companys success. The figures bump off the owners of corner shops and small retail chains shudder Wal-Mart operates 3,601 stores, employs more than 910,000 people world-wide, sales amounted last year to $137.6bn (85.7bn) - equivalent to a tenth of Britains constitutional economic output. Patrick OConnell The largest retailer in the world began life as a single store in Arkansas The company adverts about 90 million customers every week and has stores in the United States, Puerto Rico, Canada, China, Mexico, Brazil, Germany, Argentina and southern Korea. Where Wal-Mart treads, competitors tremble. UK supermarkets will face tough times, but consumers are bound to suck up the benefits. Expansion Wal-Mart is the grand-daddy of all discount chains. Its huge US stores, twice the size of the largest European hypermarket, sell everything from food to raiment to sporting goods to hardware. Richard Quest delves into the secret of Wal-Marts success Operating from cheap out-of-town warehouse sites, Wal-Marts discount prices befool trounced the competition. After the death of founder Sam Walton in 1992, the company before long seemed to have lost its way. barely under the guidance of new read/write head executive and chairman David Glass it soon re-invented itself. Wal-Mart offers a one-stop shopping experience, from groceries and clothing to hardware and work-out equipment Wal-Mart is now stronger than ever. Sales are rising again - up 17% last year. Strong consumer spending in the United States has helped the companys fortunes. But the main driving force of future revenues will be Wal-Marts program of relentless international expansion. In Europe the company has only entered the German market so far, buying 21 Wertkauf stores a year ago and adding 74 Interspar shops last autumn. Bob Martin, president of Wal-Marts international operations, says he wants to serve "a good deal of Europe". And one of his vice-presidents, Carlos Criado-Perez, adds "We are sounding for any open door that could open in Europe." Wal-Mart wants to set up shop in cyberspace as well. Mr Martin believes the Internet is "at the sceptre" of taking off and he wants his company to be "a ascendent player". The secret of Sams success Wal-Mart is a relatively young company, founded 37 years ago by Sam Walton. Sam Walton, self-made man and an American legend