Walmart Inc.

What does Walmart own?
Walmart Inc. owns Walmart Supercenters, discount stores, and Neighborhood Markets in the US; Sam's Club warehouse clubs; approximately an 81% stake in Flipkart (India's leading e-commerce platform); Walmart Mexico (Walmex), the largest retailer in Mexico; Walmart Canada; and operations in Central America, Chile, China, and other countries. Private-label brands include Great Value, Equate, Onn., Mainstays, and Bettergoods. Walmart also owns Walmart Connect, its advertising network, and operates Walmart+, a paid membership service.

Is Walmart publicly traded?
Yes. Walmart Inc. has been listed on the New York Stock Exchange under ticker WMT since October 1970. Despite being a public company, the Walton family retains effective control through approximately 46% of shares held through Walton Enterprises LLC and other family entities. The remaining shares are held by institutional investors including Vanguard and BlackRock, and by public shareholders.

Who founded Walmart?
Sam Walton founded Walmart, opening the first store in Rogers, Arkansas on July 2, 1962. Walton had previously operated Ben Franklin franchise stores in Arkansas, where he developed the low-cost, high-volume retail philosophy that became Walmart's foundation. He died on April 5, 1992, at age 74. His family continues to hold the controlling stake in the company.

Where is Walmart headquartered?
Walmart is headquartered in Bentonville, Arkansas, USA, where Sam Walton established the company's roots in the 1950s. The company's global headquarters, principal executive offices, and main distribution and technology infrastructure are concentrated in northwest Arkansas. Walmart operates in more than 20 countries, with its largest store concentration in the United States.

How many brands does Walmart own?
Walmart operates approximately 20 private-label and exclusive consumer brands, including Great Value (grocery), Equate (health and beauty), Onn. (electronics), Mainstays (home), and Bettergoods (premium food, launched 2024). These brands represent a smaller portion of Walmart's total merchandise revenue than at some competitors; most of what Walmart sells is national branded products from manufacturers.

Who owns Walmart?
Walmart Inc. is a public company with shares traded on the NYSE. The largest shareholder group is the Walton family, which collectively holds approximately 46% of outstanding shares through Walton Enterprises LLC and related entities. The Walton family is consistently ranked among the wealthiest families in the world as a result of this stake, with a combined net worth estimated in excess of $200 billion. Institutional investors including Vanguard, BlackRock, and State Street collectively hold a significant portion of the remaining shares.

Is Sam's Club owned by Walmart?
Yes. Sam's Club is a wholly-owned division of Walmart Inc. It operates as a separate business segment within Walmart's financial reporting but is not a publicly traded entity on its own. Sam's Club was founded by Sam Walton in 1983, named in his honor, and operates approximately 600 warehouse club locations in the United States.

Sam Walton opened the first Walmart store in Rogers, Arkansas on July 2, 1962. It was not his first retail venture. Walton had operated a Ben Franklin variety store franchise in Newport, Arkansas from 1945, where he developed an obsession with keeping costs low and passing savings to shoppers. When the Newport landlord declined to renew his lease in 1950, Walton moved to Bentonville, Arkansas and opened a new Ben Franklin franchise. He spent the 1950s experimenting with store formats and supplier relationships that would define the Walmart model.

The Rogers store was Walton's bet that discount retailing could work in small towns that larger chains ignored. In those early years, the only competition was other independents and smaller chains. Walton's stores undercut them on price by a combination of volume buying and a willingness to accept lower margins.

Walmart incorporated in 1969 and completed its initial public offering on the New York Stock Exchange on October 1, 1970, at $16.50 per share. The IPO raised capital for aggressive expansion across Arkansas and into neighboring states. By 1979, Walmart had crossed $1 billion in annual sales and operated in several southern states. By 1985, Forbes named Sam Walton the richest person in America.

In 1983, Walmart launched Sam's Club in Midwest City, Oklahoma. The warehouse club format, pioneered by Price Club and Costco, charged an annual membership fee in exchange for access to bulk merchandise at near-wholesale prices. Sam's Club grew rapidly and now operates approximately 600 US locations.

In 1988, Walmart opened its first Supercenter in Washington, Missouri, combining a full grocery operation with general merchandise under one roof. The Supercenter became the dominant Walmart format in the US. Grocery added a high-frequency reason for customers to visit stores, increasing basket size and loyalty.

Sam Walton died on April 5, 1992, at the age of 74. His son S. Robson Walton became non-executive chairman. David Glass, who had served as CEO since 1988, continued in that role until 2000, when H. Lee Scott succeeded him.

Walmart's international expansion accelerated through the 1990s. The company entered Mexico in 1991 through a joint venture with Cifra, which became Walmex and is today the largest retailer in Mexico. Canada followed in 1994 through the acquisition of 122 Woolco stores for approximately $310 million. Walmart entered China in 1996. In 1999, Walmart acquired ASDA, the UK grocery chain, for approximately $10.8 billion, its largest acquisition to that point.

Not all international moves worked. Walmart exited Germany in 2006 after eight years of losses, selling its 85 stores to Metro AG for approximately $685 million and recording a pre-tax loss of approximately $1 billion on the venture. South Korea followed the same year, with Walmart selling its 16 stores to Shinsegae. Both exits reflected the same failure: Walmart's EDLP model and American merchandising did not translate to markets with different shopping cultures and entrenched local competitors.

Mike Duke succeeded Lee Scott as CEO in 2009. Under Duke, Walmart began its e-commerce push, investing in Walmart.com and acquiring a series of smaller digital businesses.

Doug McMillon became CEO in February 2014, the first Walmart CEO to have grown up in the company entirely after Sam Walton's era. McMillon had joined as a summer associate at age 17. He prioritized e-commerce, sustainability, and wage increases for hourly associates.

In 2016, Walmart acquired Jet.com for approximately $3.3 billion, the largest e-commerce acquisition in US retail history at that time. Jet.com was founded by Marc Lore, who became president of Walmart's US e-commerce operations. Jet.com was eventually discontinued as a consumer brand in 2020, but the acquisition brought digital talent and technology that accelerated Walmart.com's capabilities.

In 2018, Walmart acquired a 77% stake in Flipkart, India's largest e-commerce platform, for approximately $16 billion. It was Walmart's largest-ever acquisition. The deal gave Walmart a commanding position in what analysts expect to be one of the world's largest e-commerce markets by the 2030s. Walmart's Flipkart stake increased to approximately 81% by 2025 as Walmart bought out some early investors.

In 2021, Walmart sold ASDA to a consortium led by brothers Mohsin and Zuber Issa and private equity firm TDR Capital for approximately £6.8 billion, exiting the UK after more than two decades. The sale recognized a Walmart that had decided its international capital was better deployed in Flipkart and in technology investment in its US operations.

For fiscal year 2025 (ended January 31, 2025), Walmart reported revenue of approximately $681 billion, its highest in history. Operating income grew to approximately $27.6 billion. Walmart+ membership and Walmart Connect advertising were the fastest-growing profit pools within the business.

Walmart's sustainability program centers on Project Gigaton, launched in 2017, which aims to eliminate one gigaton of greenhouse gas emissions from its supply chain by 2030. As of 2025, Walmart reports that its supplier partners have collectively avoided approximately 750 million metric tons of emissions through the program.

Walmart's own operational goal is to achieve zero emissions across its operations by 2040, without using carbon offsets. The company powers approximately 50% of its global operations with renewable energy as of 2025, including solar installations at hundreds of stores and distribution centers and power purchase agreements for wind and solar generation. Walmart has acknowledged it will not meet its previously stated 2025 emissions reduction targets but maintains its 2030 and 2040 commitments.

On waste, Walmart reports diverting approximately 80% of its operational waste from US landfills and incineration, through food donation programs, composting, and recycling. The company has set a zero-waste target for its US operations.

Walmart is a signatory to the Science Based Targets initiative. It is not B Corp certified. The company does not carry cruelty-free or organic certification at the corporate level, though individual private-label products may carry specific certifications.

Walmart's sustainable sourcing program targets key agricultural commodities including palm oil, soy, beef, and seafood, with commitments to verified sustainable sourcing for each. Independent verification of supply chain claims is conducted through third-party auditors.

Walmart appeared on the Fortune Most Admired Companies list in 2025, ranked in the general merchandisers category. The company ranked first on the Fortune 500 for 2025 based on FY2024 revenue, holding its position as America's largest company by that measure for the twelfth consecutive year.

Walmart received EPA Green Power Partner recognition in 2024 for its renewable energy purchasing across US operations.

The company appeared on the Dow Jones Sustainability North America Index in 2024, recognized for its Project Gigaton progress and supplier sustainability programs.

In the UK, Walmart (through Asda, which it sold in 2021) was historically a significant employer award recipient; post-sale, recognition now centers on US and international operations.

Walmart's most significant concluded legal matter in recent years was the Foreign Corrupt Practices Act settlement in 2019. In 2012, the New York Times reported that Walmart's Mexican subsidiary Walmex had paid approximately $24 million in bribes to local officials between 2005 and 2012 to accelerate permits for new store openings. Walmart voluntarily disclosed the conduct to the US Department of Justice and SEC. After a seven-year investigation, Walmart agreed to pay approximately $282 million in 2019 to settle charges brought by both agencies.

Labor practices have been a sustained source of controversy. For most of its history, Walmart paid wages at or near the federal minimum wage for many store associates and resisted unionization. The company has increased its starting US wage to $14 per hour as of 2024, above the federal minimum of $7.25. The United Food and Commercial Workers union has periodically organized protests at Walmart stores and attempted unionization campaigns, with limited success. In February 2026, Walmart settled FTC and state charges over deceptive earnings claims made to delivery driver recruits, paying approximately $100 million.

In supply chain ethics, Walmart has faced recurring criticism since the 2013 Rana Plaza garment factory collapse in Bangladesh, which killed more than 1,100 workers producing clothing for retailers including Walmart suppliers. Walmart joined the Alliance for Bangladesh Worker Safety, a North American retailer-led initiative that ran from 2013 to 2018 and conducted safety inspections at more than 800 factories.

On environmental performance, the company has disclosed that it missed its 2025 Scope 1 and 2 emissions reduction targets and is on track to miss its 2030 supply chain target under Project Gigaton. Environmental groups have cited the gap between Walmart's commitments and verified progress.