Walmart
Wal-Mart is a chain of warehouse style, large-scale discount retail and grocery superstores across the country. It’s stock trades on the New York Stock Exchange under the symbol WMT. Wal-Mart Stores, Inc. also owns the store chain Sam’s Club. The corporation is widely known both for its dominance of discount retail and grocery markets, and for the criticism it has received regarding its business practices. Regardless of criticism, the company has become the largest retailer on the planet, and the second largest corporation. Wal-Mart’s revenue is more than most countries, and it is the largest non-government employer in North America.
Wal-Mart, founded by Sam Walton, opened its first store in Rogers, Arkansas, in 1962. By 1969 it was had incorporated into Wal-Mart Stores, Inc., and in 1972 it went public on the New York Stock Exchange. It grew steadily across the United States, and by 1990 it was the nation’s largest retailer. In 1991 and 1994, Wal-Mart moved into Mexico and Canada respectively. By 1997 it was incorporated into the Dow Jones Industrial Average. As of 2005, Wal-Mart has stores in the United Kingdom, and Puerto Rico, and brings in a revenue of close to 300 billion dollars a year.
A corporation as large and successful as Wal-Mart doesn’t go without a lot of public attention. Like Starbucks, and other large business entities, Wal-Mart tends to out compete smaller family owned stores in a region, and for that reason alone it is a target for some scorn and opposition. There are often public protests in areas where Wal-Mart has declared they are opening a new store. However, it is some of Wal-Mart’s questionable business practices it has received the most criticism for. It’s use of overseas labor, poor environmental policies, low wages for employees and vehement resistance to unionization has resulted in significant opposition to their growth and operations amongst the general public.
To counter their growing criticism, Wal-Mart launched a massive public relations effort beginning in 2005. There efforts have include a variety of commercials, showing Wal-Mart taking care of its employees. They also have retained the public relations firm Edelman, and have increased their charitable contributions significantly. The corporation donated 17 million dollars alone to the Hurricane Katrina relief effort.
In spite of their efforts, they are still the subject for public criticism worldwide. Their sales, however, do not seem to be faltering, an indication that there are plenty of customers that feel indifferently about the controversial chain of stores.
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