The history of Wal-Mart can be traced back to the 1940s when Sam Walton began his career in retailing. He began working at a JC Penney store in Des Moines, Iowa on June 3, 1940, making a salary of $75 a month. During his employment there, Sam was able to meet James Cash Penney, the department store's founder, during a visit to the store. He remained at JC Penney for eighteen months.
In September 1945, Walton acquired, from George Scharlott, the franchise and lease on a Ben Franklin in Newport, Arkansas. The variety store was part of a chain operated by the Butler Brothers, a regional retailer. After three years, Walton increased annual sales from $80,000 to $225,000 by 1948. However, the landlord, P.K. Holmes, declined to renew the lease on favorable terms and Walton was forced to relocate before the end of 1950. On May 9, 1950, Walton purchased a store from Luther E. Harrison in Bentonville, Arkansas, and opened Walton's 5 & 10.
As a typical businessman, Walton was always......

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Title: Walmart Vs Target
Approximate Word Count: 1655
Approximate Pages: 7 (250 words per double-spaced page)

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