On October 31, 1969, after further expansion across the state, the chain was incorporated as Wal-Mart Stores, Inc. Three years later, Wal-Mart was approved and listed on the New York Stock Exchange (NYSE). In April 1983, the Wal-Mart Stores, Inc. opened its first Sam's Club store, a membership-based discount warehouse club, in Midwest City, Oklahoma. In 1985, their stock was being traded on the Pacific Stock Exchange (PSE). By the company's 25th anniversary, in 1987, there were 1,198 stores nationwide, employing 200,000 associates, with sales of $15.9 billion. In February 1988, Sam Walton stepped down as the CEO of Wal-Mart, and was succeeded by David Glass.
Michael “Micky” Monus and David Shapira founded Phar-Mor in 1982. David Shapira was the Chief Executive Officer of Giant Eagle. Inc, a family-owned grocery chain with 50 locations. In 1981 Giant Eagle acquired Tamarkin Co., a privately owned grocery chain, where Michael Monus served as its vice-president. Within a year, Michael Monus and David Shapira partnered up to establish Phar-Mor, Inc. Their goal was to successfully integrate to the fast-growing deep discount market with the introduction of Phar-Mor.
In the 1970s, Kmart continued to expand opening 270 stores in 1976 alone. In 1977, S.S. Kresge changed its name to Kmart because 95% of its sales were coming from that branch. In the 1980s and early 90s, Kmart diversified by adding other retailers such as Walden Book Company which was the number one bookstore chain in the US. The Sports Authority in 1990, 90% stake in OfficeMax and the Borders bookstore in 1992. Also in 1990 Kmart opened its first Kmart Super Center in Medina, Ohio.
In 1966, the first Rite Aid store opened in New Rochelle, New York. 1976, they introduced seventy Rite Aid private label products. The next year, 1968, they changed their name, officially, to Rite Aid Corporation and started trading on the American Stock Exchange. Then, two years later, in the beginning of the 1970’s, they moved to the New York Stock Exchange. Again, two years later, 1972, they had been operating 267 stores in 10 states.
Company Background According to the Kroger business web page, in 1883 Barney Kroger invested his life savings of $372 to open a grocery store at 66 Pearl in downtown Cincinnati. The son of a merchant, he ran his business with a simple motto: Be particular. Never sell anything you would not want yourself. It is a motto that has served him well for the next 120 years. Today, Kroger has grown to 2500 stores with $70 billion revenues, 40 food processing plants ranging from bread, milk, soda pop, ice cream and peanut butter.
On the first day of the company, more than 80,000 people shopped at the store. In the year 2000, 20 year old Lee H. Scott was named to succeed Mr. David Glass. Lee H. Scott was a low profile Walmart veteran and logistics expert. He continued to build Walmart stores both domestically and internationally. A year after Lee H. Scott taking over, Walmart was named as the largest food retailer in the United States with a grocery sales of $56 billion.
Under Cunningham leadership, the first Kmart store was opened in 1962 in Garden City, Michigan. In 1966, sales in 162 Kmart stores and Kresge stores topped the $1 billion mark and in 1968, the S. S. Kresge aired its first T.V. commercial. In 1976, Kresge made history by opening 271 Kmart stores in 1 year and becoming the first ever retailer to launch 17 million square feet of sales space in a single year. By 1977, nearly 95% of the S. S. Kresge sales were generated by Kmart so the company officially decided to change its name to Kmart Corporations.
Last modified 2014. Accessed April 20, 2014. http://money.cnn.com/2012/09/14/news/economy/outsourcing-jobs/. Kessler, Andy. 'Our 19Th-Century Curriculum'. Weeklystandard.Com.
It is owned by the Target Corporations itself and all the receivables go into Target has approximately 1,600 million dollars worth of lines of credits from twenty five different banks, approximately half the worth of the line is used and is due back for payment June 2005, with an extension all the way up to June 2006. The other half of the payment is due June 2008. The expected long term rate of securities rate for October 31 2004 was 8.5 %. Operations For 2004, Wal-Mart earned 256 billion in revenues which from sales alone was 26 billion. The top two reasons for such success in ranking first in retail store market, is because Wal-Mart is convenient globally and so are there prices in the competitive market .
He soon expanded the store, and in 1974 he began offering jaw-dropping, competitor-maddening discounts of up to 40% for best-sellers. Acquiring Marboro Books five years later, the company entered the mail-order and publishing business. By 1986 Barnes & Noble had grown to about 180 outlets, which included 142 college bookstores. Along with Dutch retailer Vendex, that year it bought Dayton Hudson's B. Dalton mall bookstore chain, forming BDB Holding Corp. In 1989 the company acquired the Scribner's Bookstores trade name and the Bookstop and Bookstar su... ... middle of paper ... ... the company, including all of the voting power of Barnes & Noble College Bookstores, a private textbook seller.