In 1962, four new retailers were born. One called Kmart was started in Garden City, Michigan, another called Target was started in Minneapolis, another from Woolworth, the big name in retailing at the time, called Woolco was started, and the final one in rural Rogers, Arkansas, called Wal-Mart. Thirty years later, Woolco had met its demise and one of the other two was the largest retailer in the country. Surprisingly, the top retailer was the one from Arkansas.Sam Walton, founder of Wal-Mart:
"Here's what makes me laugh today: it would have been absolutely impossible to convince anybody back then that in thirty years most all of the early discounters would be gone, ... that the one to fold up would be Woolco, and that the biggest, most profitable one would be the one down in Arkansas. Sometimes I even have trouble believing it." (Walton, 49)
In 1962, four new retailers were born. One called Kmart was started in Garden City, Michigan, another called Target was started in Minneapolis, another from Woolworth, the big name in retailing at the time, called Woolco was started, and the final one in rural Rogers, Arkansas, called Wal-Mart. Thirty years later, Woolco had met its demise and one of the other two was the largest retailer in the country. Surprisingly, the top retailer was the one from Arkansas.Sam Walton, founder of Wal-Mart:
"Here's what makes me laugh today: it would have been absolutely impossible to convince anybody back then that in thirty years most all of the early discounters would be gone, ... that the one to fold up would be Woolco, and that the biggest, most profitable one would be the one down in Arkansas. Sometimes I even have trouble believing it." (Walton, 49)
Um. Let's see. I believe that a man named ' Wally ' met a young girl named ' Mart ' & well, they got married & had a child in which this couple who were so deeply in love just had to have both of their names incorporated into their child's name and so Wal-Mart came to be. Now when Wal-Mart grew up he knew he had been born in a less fortunate family so he went to college & worked at Safeway than eventually figured he'd make his own company & from that ' Wal-Mart ' was born !
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