When Sam Walton, age 44, opened his first Walmart store in Rogers, Arkansas, in 1962, no one imagined he was introducing a retailing formula that within a generation would impact the lives of millions of people.
The Early Years
Samuel Moore Walton was born March 29, 1918, in Kingfisher, Oklahoma, to Thomas and Nancy Lawrence Walton. As a child, Sam moved with his family to Missouri where he was an Eagle Scout at age 13, a student leader, basketball star and quarterback on a state championship football team at Hickman High School in Columbia, Mo. He graduated from the University of Missouri at Columbia in 1940 with a B.A. in economics.
From 1942 to 1945, he served as a Captain in the U.S. Army Intelligence Corps. While in the army, Sam married Helen Robson of Claremore, Oklahoma., on Valentine’s Day, February 14, 1943. Over the years, they had four children: Rob, Jim, John and Alice.
Early Retail Experience
Immediately following his military service, Sam gained early retail experience at JC Penney in Iowa and operated his own variety store in Newport, Arkansas and eventually, with the influence and encouragement of Helen, Sam opened the landmark Walton’s Five and Dime in Bentonville, Arkansas, in 1951.
Never content, Sam began to look beyond the small variety store format and on July 2, 1962, he opened his first Walmart store in nearby Rogers.
The Growth Years
The company’s early popularity exceeded even Sam’s expectations, resulting in a rapid state-by-state store expansion financed largely through proceeds of a public stock offering in 1971. Sam, well known for crediting Walmart’s success to the associates, made sure that information regarding the company’s objectives and results was not held closely by a few executives, but was shared among all the associates.
More than a businessman, Sam was an excellent role model and visionary. He introduced new technologies to retailing and encouraged associates to take risks. He experimented with different types of stores. Sam’s Club membership warehouses and Walmart Supercenters were two successful examples. When he thought the time was right, he also set the stage for international expansion of the company with his first venture into Mexico. By late 1998, Walmart had stores on four continents and nine countries.
The Legacy
Over his lifetime, Sam was frequently recognised for both his business success and his commitment to the community. He built this company with the purpose of saving people money so they can live better. This foresight contributed to him being named "America’s Most Successful Merchant" in the September 1991 cover story of Fortune magazine.
Sam, his philosophy and his achievements have been documented in countless articles, programs and books, including Tom Peters’ popular, In Search of Excellence. A&E Biography produced Sam’s life story in 1997, resulting in one of the most watched programs in the history of the series. Sam’s commitment to philanthropy resulted in the creation of a foundation. That commitment has grown to domestic and international Walmart foundations giving more than $423 million in cash and in-kind gifts from Feb. 1, 2008, through Jan. 31, 2009.
Presidential Medal of Freedom
Shortly before his death on April 5, 1992, Sam Walton received the Presidential Medal of Freedom from President George Bush, the highest honor the country bestows on its private citizens.
Posthumously, Sam joined Helen and the entire family in receiving the prestigious 1997 National Patriots Award for "exemplifying the ideals that make this country strong." In presenting the award, the Congressional Medal of Honor Society citation read: "From building America’s economic strength, to defending our country’s freedoms, to generously helping others in need, the Walton family has served the nation and its citizens with humility and honor."
