Walmart became the first US company to report US$100 billion in annual revenue.
The retailer crossed the landmark during its fiscal year ending in January 1997. Its huge store network, discount pricing, supply-chain efficiency, and presence across the United States made it one of the largest commercial enterprises in the world.
Revenue is not the same measurement as market capitalization. Revenue records sales, while market capitalization measures the value investors assign to a company’s outstanding shares. Walmart is relevant to market-cap history because it showed that a traditional retailer could become a public-company giant on a scale once associated mainly with industrial corporations.
Walmart was founded by Sam Walton, who opened the first Walmart store in Rogers, Arkansas, in 1962. The company later expanded internationally and developed large warehouse-club operations through Sam’s Club.