Word: waltons
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...Give me a W!" shouts Sam Walton, 65, the chairman of Wal-Mart Stores, to employees at staff meetings. "Give me an A!" And so forth, down to the last T. Then he gives a final ringing cheer: "WalMart, we're No. 1!" Walton has plenty of reasons to shout. In April, sales at his 570 outlets were up 32% from the previous year. By comparison, Sears' revenues increased just 7.7%, K mart's by 5.5%, and J.C. Penney's were down...
...rolling Ozark hill country of Bentonville, Ark. (pop. 8,756). The sleepy mountain town was heretofore known chiefly as the birthplace of Louise McPhetridge Thaden, winner in 1929 of the first cross-country Powder Puff Air Derby for women aviators. Now it is famous as the home of Walton, an individualist who flies his own Piper Aztec, hunts quail, and is worth $500 million to $700 million...
Trim and suntanned, Walton is a 1940 graduate of the University of Missouri and worked for J.C. Penney briefly before World War II military service. He and his brother Bud, now a senior vice president, opened the first Wal-Mart Discount City in Rogers...
...some ways, Sam Walton is James Cash Penney reincarnated, right down to strict adherence to the Golden Rule, the name of Penney's first store in Kemmerer, Wyo., in 1902. Says Wal-Mart President Jack Shewmaker: "We make no bones about the fact that we believe in God, that we think everybody should...
...Walton's formula for retailing success resembles Penney's: grow in smalltown America and offer quality merchandise at a good price. Wal-Mart undersells competition at almost every turn, and most stores are in towns of 5,000 to 25,000. Says Walton: "There's a lot more business in those communities than people thought...