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Sam Walton and his business empire |
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| Release time:2013-09-05 Source:admin Reads: | |
| RFID technology and barcode labels are widely applied into retailing business. For instance, the giant Wal-Mart Stores, Inc., branded as Wal-Mart, is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores. The company is the world's third largest public corporation, according to the Fortune Global 500 list in 2012, the biggest private employer in the world with over two million employees, and is the largest retailer in the world. Wal-Mart remains a family-owned business, as the company is controlled by the Walton family, who own a 48 percent stake in Wal-Mart. It is also one of the world's most valuable companies. The company was founded by Sam Walton, incorporated on October 31, 1969, and publicly traded on the New York Stock Exchange. It is headquartered in Bentonville, Arkansas. Wal-Mart is also the largest grocery retailer in the United States. It generated 51 percent of its US$258 billion sales in the U.S. from grocery business. It also owns and operates the Sam's Club retail warehouses and barcode labels in North America. Wal-Mart Express is a smaller discount store, with a range of services, from simple grocery shopping, to check cashing, and even gasoline service. The concept is focused on small towns that are not able to support a larger store, and in large cities where physical space is at a premium. The German market at this point was an oligopoly with high competition among the companies which also used a similar low price strategy. Also Wal-mart's corporate culture was not viewed positively among employees and customers in Germany, particularly Wal-mart's "statement of ethics", which restricted relationships between employees and led to a public discussion in the barcode labels, resulting in a bad reputation for Wal-mart among customers. Wal-Mart announced its withdrawal from Germany due to sustained losses. The stores were sold to the German company Metro during Wal-Mart's fiscal third quarter. |
