Direct Answer
Sam Walton opened the first Walmart store on July 2, 1962, in Rogers, Arkansas, pioneering everyday low prices in smaller markets that major retailers passed over. Walmart went public in 1970, launched Sam's Club in 1983, opened the first Supercenter in 1988 and began international expansion in 1991. The company acquired Flipkart for approximately $16 billion in 2018 and launched Walmart+ in October 2020, shifting strategy toward recurring subscription revenue and higher-frequency customer relationships alongside its core discount retail business.
Key milestones
| Date | Event |
|---|---|
| July 2, 1962 | First Walmart store opens in Rogers, Arkansas, founded by Sam Walton |
| 1969 | Walmart incorporated as Wal-Mart Stores, Inc. |
| October 1, 1970 | IPO on New York Stock Exchange at $16.50 per share |
| 1983 | Sam's Club warehouse membership concept launched in Midwest City, Oklahoma |
| 1988 | First Walmart Supercenter opens in Washington, Missouri, combining grocery and general merchandise |
| 1991 | First international store opens in Mexico City through joint venture with Cifra, later Walmart de Mexico |
| April 5, 1992 | Sam Walton dies; son S. Robson Walton becomes chairman |
| 1994 | McLane Company acquired; later sold to Berkshire Hathaway in 2003 |
| 1999 | ASDA acquired in United Kingdom for approximately $10.8 billion |
| 2000 | Walmart.com launched |
| 2016 | Jet.com acquired for approximately $3.3 billion; later folded into Walmart |
| 2018 | Flipkart majority stake acquired for approximately $16 billion |
| October 2020 | Walmart+ membership program launched |
| February 2024 | Walmart announces 3-for-1 stock split, effective February 26, 2024 |
| December 2024 | VIZIO acquisition closes for approximately $2.3 billion to enhance advertising capabilities |
CEO timeline
| CEO | Tenure |
|---|---|
| Sam Walton | 1962 to 1988 |
| David Glass | 1988 to 2000 |
| Lee Scott | 2000 to 2009 |
| Mike Duke | 2009 to 2014 |
| Doug McMillon | 2014 to present |
Four eras of Walmart history
Discount retail expansion (1962 to 1990)
Sam Walton opened the first Walmart on July 2, 1962, in Rogers, Arkansas. Walton had operated Ben Franklin franchise stores in Newport and Bentonville, Arkansas before developing the everyday low prices concept: consistent low prices rather than periodic promotional sales, applied in smaller markets that large retailers such as Sears and Kmart had bypassed. The model allowed Walmart to achieve lower costs through volume and operational discipline while passing savings to customers. The company was incorporated as Wal-Mart Stores, Inc. in 1969 and completed its initial public offering on October 1, 1970, on the New York Stock Exchange at $16.50 per share. Store count grew rapidly through the 1970s and 1980s in rural and suburban markets across the South and Midwest. Sam's Club, a warehouse membership format competing with Costco, launched in Midwest City, Oklahoma in 1983. The first Walmart Supercenter opened in Washington, Missouri in 1988, combining full-line grocery with general merchandise under one roof. The Supercenter format gave Walmart access to grocery, one of the highest-frequency retail categories, and became the engine of domestic store-count growth through the 1990s and 2000s.
International and format diversification (1991 to 2006)
Walmart opened its first international store in Mexico City in 1991 through a joint venture with Mexican retailer Cifra, which later became Walmart de Mexico. International expansion continued through the 1990s into Canada, Brazil, Argentina, China and the United Kingdom. The 1999 acquisition of ASDA, the United Kingdom's second-largest supermarket chain, for approximately $10.8 billion was Walmart's largest international purchase and gave it a significant position in a major developed market. Sam Walton died on April 5, 1992; his son S. Robson Walton became chairman. Walmart.com launched in 2000 as the company made its first steps into e-commerce, though the initial effort was treated as a secondary business rather than a strategic priority. By the mid-2000s Walmart had become the largest company in the world by revenue, with operations across more than a dozen countries and domestic annual sales that no other retailer approached.
E-commerce challenge and adaptation (2007 to 2016)
Amazon's growth into general merchandise and its Prime membership program beginning in 2005 created sustained competitive pressure on Walmart's core business. Walmart's early response was to invest in Walmart.com while continuing to build physical stores, but the company's digital growth lagged Amazon by a wide margin through the early 2010s. Doug McMillon became CEO in 2014 and signaled a more aggressive response to e-commerce competition, including willingness to accept short-term margin pressure to invest in digital capabilities. The acquisition of Jet.com in 2016 for approximately $3.3 billion brought in Marc Lore, Jet's founder, and a technology team with direct Amazon competitive experience. Jet.com was subsequently folded into Walmart's e-commerce operations, but the acquisition accelerated Walmart's investment in fulfillment, digital marketing and grocery delivery. McLane Company, a grocery distribution business acquired in 1994, was sold to Berkshire Hathaway in 2003 as Walmart focused its supply chain on core retail.
Omnichannel and membership era (2017 to present)
The 2018 acquisition of a majority stake in Flipkart, India's leading e-commerce platform, for approximately $16 billion marked Walmart's largest single acquisition and its most direct bet on an emerging-market growth story. India's retail market was among the largest and fastest-growing in the world, and foreign companies faced restrictions on direct retail entry, making a stake in an established digital platform the primary available path. Flipkart competes directly with Amazon India. Walmart+ launched in October 2020, offering free delivery, fuel discounts and streaming access for an annual subscription fee, positioning the company against Amazon Prime's recurring-revenue model. Walmart's advertising business, operating under the Walmart Connect brand, became a growing revenue stream as the company's scale in physical and digital retail gave it a large audience and first-party purchase data valuable to consumer brands. The December 2024 acquisition of VIZIO for approximately $2.3 billion was explicitly connected to expanding Walmart's advertising capabilities through VIZIO's SmartCast operating system and its large connected-TV user base. A 3-for-1 stock split effective February 26, 2024 increased share accessibility without changing the company's underlying economics.
Frequently Asked Questions
When was Walmart founded and by whom?
Sam Walton opened the first Walmart store on July 2, 1962, in Rogers, Arkansas. Walton had previously operated Ben Franklin franchise stores and developed the everyday low prices concept, offering consistent low prices rather than occasional sales, targeting smaller markets that larger retailers overlooked.
When did Walmart go public?
Walmart completed its initial public offering on October 1, 1970, on the New York Stock Exchange at $16.50 per share. Early investors who held shares through the company's expansion decades saw extraordinary returns from a combination of stock price appreciation and multiple stock splits.
What is Walmart+ and when did it launch?
Walmart+ is Walmart's paid membership program, launched in October 2020 in response to Amazon Prime. For an annual fee, members receive benefits including free delivery on groceries and general merchandise, fuel discounts at Walmart gas stations, and access to Paramount+ streaming. Walmart+ is a key part of Walmart's strategy to build higher-frequency customer relationships and generate recurring subscription revenue.
What was the significance of the Flipkart acquisition?
Walmart acquired a majority stake in Flipkart, India's leading e-commerce platform, for approximately $16 billion in 2018. The acquisition gave Walmart a significant position in one of the world's largest and fastest-growing consumer markets at a time when direct entry into Indian retail was restricted for foreign companies. Flipkart competes directly with Amazon India and local players.