Founding

1962

Sam Walton, a former management trainee at J.C. Penney (JCP), and his brother Bud open the first Wal-Mart discount store in Rogers, Ark. The Walton brothers had operated a small chain of five-and-dime stores, pioneering many of the concepts that will prove critical to their success, such as buying wholesale goods from the lowest-priced supplier, then passing the savings on to shoppers. Walton also offers managers the opportunity to become limited partners, motivating them to maximize profits and improve their managerial skills.