WalmartEssay Preview: WalmartReport this essayWhile entering Wal-Mart, we do not need anything to have a Wal-Mart card because it welcomes everyone to enter, but for the BJ’s and Sam’s Club, we are need to have the member card because it only accept their member to enter. Also, becoming the member in these two stores, we need to pay the member each year just same as renew the card every year. Although these two stores are big and people can also buy cheap things from there but their location is far and only have one store in each location. For example, there are two BJ’s stores located in Philadelphia and one is 25 minutes away and other is 35 minutes away from my house. The only store that I know about Sam’s Club is near the mall which is around 25 to 30 minutes away. For people that have car, it is okay for them to go there but for people that don’t have car, they would rather selected Wal-Mart then BJ’s or Sam’s Club since Wal-Mart always have the store need house.
In 2006, Wal-Mart was 67th most profitable corporation (profits divided by total revenue). For the budget year ending January 31, 2006, Wal-Mart reported a net income of $12.178 billion on $344.992 billion of sales revenue which is 3.5% of the profit margin. For the budget year ending in January 31, 2006, Wal-Marts international operations accounted for about 20.1% of total sales. As of the March 06, 2008, the net sales for the 4-week period ending Feb 29, 2008 was $29.1 billion and it is up to 8.9% from the previous years results. As we can see, Wal-Mart is increasing within every year. Also, it is about 1.8 millions employees that work in Wal-Mart over the countries of United States, Canada, and Mexico.
It appears to be true that the financial and financial support provided by companies and programs may be insufficient to compensate for this fiscal year’s loss of the top 10 percent of company wealth. For this reason, Wal-Mart continues to operate as a company with good financial resources.
Walmart also makes significant profit as they move to new locations, which have new employees, many of whom do not know much about their financial status.
On April 7, 2007, the company announced it would be exiting its current locations of San Francisco, Miami and New York City and taking its new headquarters to Seattle. Wal-Mart is in the process of transferring its existing corporate headquarters and will retain its existing employees. In October 2007, the Company announced all of the company’s other headquarters in Los Angeles and is moving all of the company’s headquarters to Seattle.
In March, 2009, Wal-Mart began moving operations to its current location, a 5,500-square foot warehouse. However, these operations are not scheduled to re-open for production until 2026 and the company is still seeking new locations. In April 2009, the company announced its plans to relocate its operations to a new, smaller warehouse. In May, 2009, Wal-Mart announced it was moving all of Wal-Mart’s manufacturing operations to another 10-30 miles radius. Wal-Mart’s second location in Seattle now has a new factory that is not yet scheduled to enter production.
On August 5, 2007, the company announces that its new 5,800 square foot retail space will begin production by the end of the year.
The next Wal-Mart store will be in San Francisco. The next Walmart store will open by the end of the year. All of WMT’s remaining employees will move to New York City.
Wal-Mart is being asked to complete an investigation into its financial management practices and report on the financial performance of the company through April 19, 2012.