Sam Walton opened Walmart’s first store in 1962 in Rogers, Arkansas, under the name Wal-Mart Discount City.
Walton had operated variety stores before creating his discount-retailing chain. The first Walmart opened on July 2, 1962, in a former Ben Franklin variety store at 719 West Walnut Street in Rogers. Walton’s strategy emphasized low prices, high sales volume, and efficient distribution.
The business expanded rapidly across the United States, and its name was shortened from Wal-Mart Stores, Inc. to Walmart Inc. in 2008. The company became the world’s largest company by revenue in several Fortune Global 500 rankings.
Walmart is sometimes confused with Target because both are major American discount retailers. Target was founded by George Dayton’s company and opened its first store in 1962, the same year Walmart began, but the two chains developed different branding and store formats.