Walmart is an American public corporation that runs a chain of large, discount department stores. It was founded in 1962 by Sam Walton. Since 1969 it is listed on the New York Stock Exchange.
It is the world's largest public corporation by revenue, according to the 2008 Fortune Global 500. Walmart is the largest private employer in the world and the fourth largest utility or commercial employer, trailing the British National Health Service, and the Indian Railways.
Wal-Mart is the largest grocery retailer in the United States, with an estimated 20% of the retail grocery and consumables business.
It operates in Mexico as Walmex, in the UK as ASDA, and in Japan as Seiyu. It has wholly owned operations in Argentina, Brazil, Canada, and Puerto Rico. Wal-Mart's investments outside North America have had mixed results: its operations in South America and China are highly successful, while it was forced to pull out of Germany and South Korea when ventures there were unsuccessful.
WalMart took a big step into Europe buying Britain's third-largest food Retailer ASDA Group PLC in 1999.