Sam Walton opened the first Walmart in 1962 in Arkansas, with rapid growth leading to Walmart becoming the top U.S. retailer by 1990. The company achieved $1 billion in annual sales by 1980 and marked its 60th anniversary with $648 billion revenue for the fiscal year 2024. Walmart adopted a low-price strategy since the 1970s and faced controversies, including labor issues related to its suppliers. The brand's branding has evolved over the decades, moving to a more modern logo and customer service approach.
Gifford and Walmart came under scrutiny when National Labor Committee director Charles Kernaghan testified in a 1996 congressional hearing that Gifford's clothing line was produced by child laborers in sweatshops in Honduras.
By 1990, Walmart became the No. 1 retailer in the US, marking significant growth from its inception in 1962.
Since the 1970s, Walmart has followed its 'every day low prices' strategy, providing year-round lower prices for customers instead of just during special promotions.
Walmart marked its 60th anniversary in 2022, generating $648 billion in revenue in the fiscal year 2024.
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