Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, grocery stores. Headquartered in Bentonville, the company was founded by Sam Walton in 1962 and incorporated on October 31, 1969, it owns and operates Sam's Club retail warehouses. As of January 31, 2019, Walmart has 11,348 stores and clubs in 27 countries, operating under 55 different names; the company operates under the name Walmart in the United States and Canada, as Walmart de México y Centroamérica in Mexico and Central America, as Asda in the United Kingdom, as the Seiyu Group in Japan, as Best Price in India. It has wholly owned operations in Argentina, Chile and South Africa. Since August 2018, Walmart only holds a minority stake in Walmart Brasil, with 20% of the company's shares, private equity firm Advent International holding 80% ownership of the company. Walmart is the world's largest company by revenue—over US$500 billion, according to Fortune Global 500 list in 2018—as well as the largest private employer in the world with 2.2 million employees.
It is a publicly traded family-owned business. Sam Walton's heirs own over 50 percent of Walmart through their holding company, Walton Enterprises, through their individual holdings. Walmart was the largest U. S. grocery retailer in 2019, 65 percent of Walmart's US$510.329 billion sales came from U. S. operations. The company was listed on the New York Stock Exchange in 1972. By 1988, Walmart was the most profitable retailer in the U. S. and by October 1989, it had become the largest in terms of revenue. Geographically limited to the South and lower Midwest, by the early 1990s, the company had stores from coast to coast: Sam's Club opened in New Jersey in November 1989 and the first California outlet opened in Lancaster in July 1990. A Walmart in York, Pennsylvania opened in October 1990: the first main store in the Northeast. Walmart's investments outside North America have seen mixed results: its operations and subsidiaries in the United Kingdom, South America, China are successful, whereas its ventures in Germany and South Korea failed.
In 1945, businessman and former J. C. Penney employee Sam Walton bought a branch of the Ben Franklin stores from the Butler Brothers, his primary focus was selling products at low prices to get higher-volume sales at a lower profit margin, portraying it as a crusade for the consumer. He experienced setbacks because the lease price and branch purchase were unusually high, but he was able to find lower-cost suppliers than those used by other stores and was able to undercut his competitors on pricing. Sales increased 45% in his first year of ownership to US$105,000 in revenue, which increased to $140,000 the next year and $175,000 the year after that. Within the fifth year, the store was generating $250,000 in revenue; when the lease for the location expired, Walton was unable to reach an agreement for renewal, so he opened up a new store at 105 N. Main Street in Bentonville, naming it "Walton's Five and Dime"; that store is now the Walmart Museum. On July 2, 1962, Walton opened the first Walmart Discount City store at 719 W. Walnut Street in Rogers, Arkansas.
The building is now occupied by a hardware store and an antique mall, while the company's "Store #1" has since relocated to a larger discount store and now expanded to a Supercenter several blocks west at 2110 W. Walnut Street. Within its first five years, the company expanded to 24 stores across Arkansas and reached US$12.6 million in sales. In 1968, it opened its first stores outside Arkansas, in Sikeston and Claremore, Oklahoma; the company was incorporated as Wal-Mart, Inc. on October 31, 1969, changed its name to Wal-Mart Stores, Inc. in 1970. The same year, the company opened a home office and first distribution center in Bentonville, Arkansas, it had 38 stores operating with 1,500 sales of $44.2 million. It began trading stock as a publicly held company on October 1, 1970, was soon listed on the New York Stock Exchange; the first stock split occurred in May 1971 at a price of $47 per share. By this time, Walmart was operating in five states: Arkansas, Louisiana and Oklahoma; as the company moved into Texas in 1975, there were 125 stores with 7,500 employees and total sales of $340.3 million.
In the 1980s, Walmart continued to grow and by the company's 25th anniversary in 1987, there were 1,198 stores with sales of $15.9 billion and 200,000 associates. This year marked the completion of the company's satellite network, a $24 million investment linking all operating units with the Bentonville office via two-way voice and data transmission and one-way video communication. At the time, the company was the largest private satellite network, allowing the corporate office to track inventory and sales and to communicate to stores. In 1988, Walton was replaced by David Glass. Walton remained as Chairman of the Board. With the contribution of its superstores, the company surpassed Toys "R" Us in toy sales in 1998. While it was the third-largest retailer in the United States, Walmart was more profitable than rivals Kmart and Sears by the late 1980s. By 1990, it became the largest U. S. retailer by revenue. Prior to the summer of 1990, Walmart had no presence on the West Coast or in the Northeast, but in July and October that year, it opened its first stores in California and Pennsylvania, respectively.
By the mid-1990s, it was far and away the most powerful retailer in the U. S. and expanded into Mexico in 1991 and Canada in 1994
Bay Street Emeryville
Bay Street Emeryville is a large mixed-use development in Emeryville, California which has 65 stores, ten restaurants, a sixteen-screen movie theater, 230 room hotel, 400 residential units with 1,000 residents. It is near several hotels, an IKEA store and three other shopping centers: East Bay Bridge Shopping Center, Emeryville Marketplace, Powell Street Plaza; the mall was built on the site of the Emeryville Shellmound. Temescal Creek runs spring water and Emeryville urban through the property in an channelized open culvert with concrete lining to the confluence with the bay at the Crescent wetlands, it is adjacent to Interstates 80 and 580 in addition to the Oakland-San Francisco Bay Bridge and the MacArthur Maze. It is across from the Emeryville Crescent State Marine Reserve; the mall has the only LEED certified West Elm that provides some of its own solar energy, with a grass roof to provide habitat for insects, substantial use of sky lights to reduce energy use. The mall is built on former toxic waste site.
Since 2001 there has been a "don't buy anything day" hosted at the site by descendants of the Ohlones that believe the site has desecrated the resting place of their ancestors. In 2010 the mall began to attract tourists to a 34-foot-tall Christmas tree made out of 84 shopping carts; the unique tree created by artist Anthony Schmitt originated from Santa Monica, where it was displayed every winter season until 2014. New general management took over in 2017. Bay Street features a mix of upscale and traditional mall retailers, with a two-level Barnes & Noble bookstore, flagship West Elm and Apple stores, four Gap, Inc brands: Gap, Old Navy and separate men's and women's Banana Republic stores. California Pizza Kitchen, P. F. Chang's China Bistro, Rubio's Coastal Grill restaurants, UNIQLO, standalone H&M men's and women's stores, an AMC Theatres cinema are present; the mall has public transport access by AC Transit local bus line 36 between the West Oakland BART station and the University of California, furthermore transbay commuter routes C, F, J to the San Francisco Transbay Terminal and Z reverse commute from San Francisco to Emeryville.
The Emeryville Amtrak Station, free Emery-go-Round shuttles on the Shellmound/Powell line to MacArthur BART station and other areas in the city. Parking free, now costs US$2–10 depending on the length of stay; the fees have been controversial, as they have been raised over the years. Official website
Target Corporation is the eighth-largest retailer in the United States, is a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, the company was named Goodfellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and the Dayton Company in 1910; the first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J. L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, Mervyn's. Target established itself as the highest-earning division of the Dayton-Hudson Corporation in the 1970s; the company has found success as a cheap-chic player in the industry. The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004, it suffered from a massive and publicized security breach of customer credit card data and the failure of its short-lived Target Canada subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States.
As of February 2, 2019, Target operates 1,844 stores throughout the United States. The company is ranked No. 39 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. Their retail formats include the discount store Target, the hypermarket SuperTarget, "flexible format" stores named CityTarget and TargetExpress before being consolidated under the Target branding. Target is recognized for its emphasis on "the needs of its younger, image-conscious shoppers", whereas its rival Walmart more relies on its strategy of "always low prices"; the Westminster Presbyterian Church in downtown Minneapolis burned down during the Panic of 1893. Without insurance coverage to cover the financial loss, the congregation found itself unable to rebuild; the church appealed to parishioner George Dayton to purchase an empty corner lot adjacent to the original church in its possession. Dayton convinced the Reuben Simon Goodfellow Company to move its nearby Goodfellows department store into the newly erected building in 1902, although its owner retired altogether and sold his interest in the store to Dayton.
The store was renamed the Dayton Dry Goods Company in 1903, was shortened to the Dayton Company in 1910. The company made its first expansion with the acquisition of the Minneapolis-based jeweler J. B. Hudson & Son right before the Wall Street Crash of 1929. Dayton died in 1938 and was succeeded by his son Nelson as the president of the $14 million business. Nelson died in 1950 and was replaced by his own son Donald, who with his cousins replaced the Presbyterian guidelines set by his predecessors with a more secular approach; the company acquired the Lipman's department store company during the 1950s and operated it as a separate division. John F. Geisse developed the concept of upscale discount retailing while working for the Dayton Company. Using his concepts, the company opened its first Target discount store at 1515 West County Road B in the Saint Paul suburb of Roseville, Minnesota; the name "Target" originated from publicity director Stewart K. Widdess, was intended to prevent consumers from associating the discount store with the department store.
It opened three additional units in the first year, reported its first gain in 1965 with sales reaching $39 million. That decade, B. Dalton Bookseller was formed as a subsidiary of the Dayton Company; the parent company acquired the jewelers Shreve & Co. and J. E. Caldwell, the Pickwick Book Shops, the electronics and appliances chain Lechmere, it went public with its first offering of common stock, built its first distribution center in Fridley, Minnesota. In 1969, the Dayton Company itself merged with the Detroit-based J. L. Hudson Company, together formed the Dayton-Hudson Corporation; the new company, at the time the 14th-largest retailer in the United States, consisted of Target and the department stores Dayton's, Diamond's, Hudson's, John A. Brown, Lipman's. Target reached $200 million in sales while Dayton-Hudson acquired Team Electronics and the jewelers C. D. Peacock, Inc. and Jessop and Sons in the 1970s. Target reported a decrease in profits in 1972, due to the rapid pace of expansion with the purchase and conversion of several former Arlan's department store locations.
New management marked down merchandise to reduce its overstock and only opened one new location that year, Target became Dayton-Hudson's top revenue producer in 1975. Dayton-Hudson was established as the seventh-largest general merchandise retailer in the United States with its acquisition of Mervyn's in 1978. Dayton-Hudson sold Lipman's to Marshall Field's and acquired the discount store chain Ayr-Way in 1980, expanded into the West Coast market with the purchase and conversion of several FedMart stores in 1982, it sold the Dayton-Hudson Jewelers subsidiary to Henry Sons of Montreal. The company founded the Plums off-price clothing store with four locations in the Los Angeles area in 1983. In 1985, the company started R. G. Branden's, a chain that
S. H. Kress & Co.
S. H. Kress & Co. was the trading name of a chain of "five and dime" retail department stores in the United States of America, established by Samuel Henry Kress, which operated from 1896 to 1981. In the first half of the 20th century, there were Kress stores with ornamented architecture on "Main Street" in hundreds of cities and towns. Kress opened his first "stationery and notions" store in Nanticoke, Pennsylvania, in 1887; the chain of S. H. Kress & Co. 5-10-25 Cent Stores was established in 1896. In the 1920s and 1930s, Kress sold a house label of phonograph records under the Romeo trademark, he died in 1955. The company's exclusion of African Americans from its lunch counters made Kress a target for civil rights protests during the 1960 lunch counter sit-ins, along with Woolworth's, Rexall and other national chains. In Nashville, Kress refused to serve the protesters but agreed to integrate the downtown store in exchange for ending a consumer boycott; the Greensboro, North Carolina Kress was included in the first civil rights demonstrations in the South.
In Adickes v. S. H. Kress Co. the U. S. Supreme Court threw out convictions for vagrancy resulting from a sit-in at a Kress lunch counter in Mississippi; the Kress store in Baton Rouge was the site of that city's first civil rights sit-in. That event helped save it from demolition 45 years later. In 1964 Genesco, Inc. acquired Kress. The company moved to shopping malls. Genesco began liquidating Kress and closing down the Kress stores in 1980; the remaining Kress stores were sold to McCrory Stores on January 1, 1981. Most continued to operate under the Kress name until McCrory Stores went out of business in 2001. Tiendas Kress, the subsidiary chain in Puerto Rico, survived the parent company and is still in business there; the Kress Foundation, a philanthropic organization promoting art, was established by Kress in 1929 and survives the parent company. The Kress chain was known for the architecture of its buildings. "Samuel H. Kress... envisioned his stores as works of public art that would contribute to the cityscape."
A number of former Kress stores are recognized as architectural landmarks and many are listed on the National Register of Historic Places, including the 1913 building on Canal Street in New Orleans and the 1929 neoclassical store in Asheville, North Carolina. Notable Kress architects include Seymour Burrell, who studied in New York with architect Emmanuel Louis Masqueray, Edward Sibbert, who designed more than fifty Art Deco S. H. Kress & Co. stores between 1929 and 1944. Sibbert's buildings streamlined the Kress image with a sleek buff modernity, the lavish use of terracotta ornament, strong verticals supporting the golden letters “Kress”. Curved glass display windows led the shopper through heavy bronze doors into an interior of rich marbles, fine woods, large customized counters set crosswise down a long sales floor. Well-positioned hanging lamps created a bright atmosphere for an endless array of inexpensive items. Everything – from the restocked merchandise to the gracious retiring rooms and popular soda fountain in the basement – encouraged customers to linger.
Like the great movie houses of the day, the dime store – and ‘Kress’s’ in particular – was a popular destination during hard economic times. Sibbert's Mayan Revival Kress store on Fifth Avenue in New York City was built in 1935 and demolished in 1980. A seven-story marble structure designed for every shopping comfort, its Art Deco elegance was graced by airborne Mayan gods on the sales floor and Mayan-style hieroglyphs of the gloves and padlocks and yard goods for sale. Awarded a gold medal for architectural quality, the store represented the zenith of the Kress empire in luxury and retailing capacity; the downtown Kress store in Greensboro, North Carolina, is a characteristic example that shows the chain's use of elaborate exterior details including coats-of-arms, metal work, inlaid artistic flourishes on the keystones and corners. The National Building Museum in Washington, D. C. holds a permanent collection of Kress building "records, including thousands of drawings and photographs relating to the design and operation of more than 200 stores stretching from New York to Hawaii."
Kress buildings around the country have been adapted for reuse. Asheville, NC: The Kress building on Patton Avenue in Downtown Asheville was restored in the 1990s, is now The Kress Emporium - a gallery featuring local artists, K2 Studio - a home and furniture store, as well as condominiums in the upper floors. Bakersfield, CA: The Kress building at 1401 19th St. in downtown Bakersfield has been converted to office space, with the exterior architecture, including Kress signage, still intact. Baton Rouge, LA: The Kress building was scheduled to be demolished but was spared in 2005, has been renovated for residential use. Biloxi, MS: The downtown Kress store was converted in 2014 into a live music venue, Kress Live. Meridian, MS: The downtown Kress building is undergoing renovation and is slated to open in early 2016 as the new home of the Mississippi State University Meridian campus Kinesiology program. Selma, AL: The Kress building on Broad Street in Downtown Selma was converted in Butler Truax Jewelers.
Columbia, SC: The Kress building has been renovated into apartments with first floor restaurant and office space. Charleston, SC Kress store on King Street is now an H&M store Daytona Beach, FL: The Kress Building located on Beach Street downtown is restored with each floor having a different retro theme and is now home to many small businesses as well as a business center and shared office facility called Work Webb. Fort Worth, TX: The 1936 Kress bui
In retail, an "anchor tenant", sometimes called an "anchor store", "draw tenant", or "key tenant", is a larger tenant in a shopping mall a department store or retail chain. With their broad appeal, they are intended to attract a significant cross-section of the shopping public to the center, they are offered steep discounts on rent in exchange for signing long-term leases in order to provide steady cash flows for the mall owners. When the planned shopping centre format was developed by Victor Gruen in the early to mid-1950s, signing larger department stores was necessary for the financial stability of the projects, to draw retail traffic that would result in visits to the smaller shops in the centre as well. Anchors have their rents discounted, may receive cash inducements from the centre to remain open. Early on, grocery stores were a common type of anchor store. However, research on consumer behavior revealed that most trips to the grocery store did not result in visits to surrounding shops.
Large supermarkets remain common anchor stores within power centers however. As of 2005, the declining popularity of old-line department stores makes it necessary for mall management companies to consider re-anchoring with other retail alternatives, or mix commercial development with residential development to guarantee a captive clientele; the challenges faced by the traditional large department stores have led to a resurgence in the use of supermarkets and gyms as anchors. The International Council of Shopping Centers makes the presence of anchors one of the main defining characteristics of the two largest categories of centres, the regional center with 400,000 to 800,000 square feet in gross leasable area, the superregional center with more than 800,000 square feet of space; the regional center has two or more anchors, while the superregional has three or more. In each case, the anchors account for 50–70% of the centre's leasable space. Shopping centres with anchor stores have outperformed those without one, as the anchor helps draw shoppers attracted to the anchor to shop at other shops in the mall.
Retail Shopping centre Supermarket
Macy's is an American department store chain founded in 1858 by Rowland Hussey Macy. It became a division of the Cincinnati-based Federated Department Stores in 1994, through which it is affiliated with the Bloomingdale's department store chain; as of 2015, Macy's was the largest U. S. department store company by retail sales. As of February 2019, there were 584 full-line stores with the Macy's nameplate in operation throughout the United States, Puerto Rico, Guam, its flagship store is located at Herald Square in the Manhattan borough of New York City. The company had 130,000 employees and earned annual revenue of $24.8 billion as of 2017. Macy's has conducted the annual Macy's Thanksgiving Day Parade in New York City since 1924 and has sponsored the city's annual Fourth of July fireworks display since 1976. Macy's Herald Square is one of the largest department stores in the world; the flagship store covers an entire New York City block, features about 1.1 million square feet of retail space, includes additional space for offices and storage, serves as the endpoint for the Thanksgiving Day parade.
The value of Herald Square has been estimated at around $3 billion. Macy's was founded by Rowland Hussey Macy, who between 1843 and 1855 opened four retail dry goods stores, including the original Macy's store in downtown Haverhill, established in 1851 to serve the mill industry employees of the area, they all failed. Macy moved to New York City in 1858 and established a new store named "R. H. Macy & Co." on Sixth Avenue between 13th and 14th Streets, far north of where other dry goods stores were at the time. On the company's first day of business on October 28, 1858 sales totaled $11.08, equal to $320.27 today. From the beginning, Macy's logo has included a star, which comes from a tattoo that Macy got as a teenager when he worked on a Nantucket whaling ship, the Emily Morgan; as the business grew, Macy's expanded into neighboring buildings, opening more and more departments, used publicity devices such as a store Santa Claus, themed exhibits, illuminated window displays to draw in customers.
It offered a money back guarantee, although it accepted only cash into the 1950s. The store produced its own made-to-measure clothing for both men and women, assembled in an on-site factory. In 1875, Macy took on Robert M. Valentine, a nephew. La Forge of Wisconsin, the husband of a cousin. Macy died in 1877 from inflammatory kidney disease. La Forge died the following year, Valentine died in 1879. Ownership of the company remained in the Macy family until 1895, when the company, now called "R. H. Macy & Co.", was acquired by Isidor Straus and his brother Nathan Straus, who had held a license to sell china and other goods in the Macy's store. In 1902, the flagship store moved uptown to Herald Square at 34th Street and Broadway, so far north of the other main dry goods emporia that it had to offer a steam wagonette to transport customers from 14th Street to 34th Street. Although the Herald Square store consisted of just one building, it expanded through new construction occupying the entire block bounded by Seventh Avenue on the west, Broadway on the east, 34th Street on the south and 35th Street on the north, with the exception of a small pre-existing building on the corner of 35th Street and Seventh Avenue and another on the corner of 34th Street and Broadway.
This latter 5-story building was purchased by Robert H. Smith in 1900 for $375,000 – an incredible sum at the time – with the idea of getting in the way of Macy's becoming the largest store in the world: it is supposed that Smith, a neighbor of the Macy's store on 14th Street, was acting on behalf of Siegel-Cooper, which had built what they thought was the world's largest store on Sixth Avenue in 1896. Macy's ignored the tactic, built around the building, which now carries Macy's "shopping bag" sign by lease arrangement. In 1912, Isidor Straus died in the sinking of the Titanic at the age of 67 with Ida; the original Broadway store was designed by architects De Lemos & Cordes, was built in 1901–02 by the Fuller Company and has a Palladian facade, but has been updated in many details. There were further additions to the west in 1924 and 1928, the Seventh Avenue building in 1931, all designed by architect Robert D. Kohn, the newer buildings were Art Deco in style. In 2012, Macy's began the first full renovation of the iconic Herald Square flagship store at a reported cost of $400 million.
Studio V Architecture, a New York-based firm, was the overall Master Plan architect of the project. Studio V's design raised controversy over the nature of contemporary design and authentic restoration; the building was added to the National Register of Historic Places as a National Historic Landmark in 1978. In the 1960s, Macy's built a store on Queens Boulevard in Elmhurst, in the New York City borough of Queens; this resulted in a round department store on 90 percent of the lot, with a small owned house on the corner. Macy's no longer occupies this building, which now contains the Queens Place Mall, with Macy's Furniture Gallery as a tenant. More distant acquisitions included Lasalle & Koch, Davison-Paxon-Stokes, L. Bamberger & Co. O'Connor Moffat & Company and John Taylor Dry Goods Co.. O'Connor Moffat was renamed Macy's San Francisco in 1947 becoming Macy's California, John Taylor was renamed