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"Sell name brand merchandise at low prices."
By the 1980's Wal-Mart had over 300 stores and had accumulated over 1 billion dollars in sales. Sam Walton had the idea of a unique decentralized distribution system that would help spur on further growth. By 1991, Wal-Mart was the largest U.S. retailer with 1,700 stores nationwide.
Mr. Walton remained active in the company as CEO until 1988 and chairman until his death in 1992. Shortly before his death, he was awarded the Medal of Freedom from the President of the United States of America. When Sam Walton died, he was the world's second riches man behind Bill Gates of Microsoft...
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