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Walmart

Family business owners dominate list of billionaires

March 5, 2012

Carlos Slim, who controls Mexican conglomerate Grupo Carso, is the richest person in the world, with a fortune of about $68.5 billion (€51.9 billion).

Family business roundup: Peugeot in talks with GM while Walmart’s profit falls

February 24, 2012

Two of the world’s largest family businesses had a mixed week. US retail giant Walmart saw profits drop, while Peugeot Citroen reportedly looked to team up with General Motors to better compete in the fiercely competitive European car market.

Walmart, the supermarket chain controlled by the Walton family, said net profits for the year ended 31 January 2012 fell by 4.2% to $15.7 billion (€11.69 billion), from $16.4 billion the previous year.

Walmart cracks down on founding Walton’s legacy

January 28, 2012

Most family businesses go to great lengths to preserve some of the traditions established by their founders. But now retail giant Walmart, controlled by members of the Walton family, seems to be turning its back on its founder’s legacy.

The American company has removed greeting staff from overnight shifts at its US stores, in a move that takes away a bit of the family business’s 30-year-old practice of ensuring all customers are welcomed into shops.

“Get on the shelf” with Walmart contest

January 19, 2012

For some people living in the US, shopping in Walmart is a must-do weekly affair. After all, the American family business is the world’s largest retailer and sells everything from groceries and electronics to toys and clothing.

Walmart gets in the Christmas spirit

December 22, 2011

Walmart is best known for its giant stores, the fortune it made its founding family and its sometimes questionable employee practices, but as Christmas approaches, the family business has shown a different side.

The company has organised a 12 Days of Giving campaign on Facebook, where it will donate $1.5 million (€1.15 million) to 145 organisations across the US.

Domestic sales revival boosts the world's biggest family business

August 17, 2011

The Walton family-controlled retail giant Walmart has seen a revival in its domestic sales in the second quarter of this year, following a disappointing performance in 2010.

The Arkansas-based retailer said in a statement that its US sales rose to $64.89 billion for the quarter ending 31 July, up from the $62.66 billion it achieved in the previous three months.

Walmart follows fellow family businesses and looks to expand in Brazil

August 15, 2011

The Walton family’s Walmart is reportedly looking at the possibility of expanding its operations in Brazil, after saying last year it was disappointed with its results in the South American country.

According to the Financial Times, the US retail giant, which is due to report its earnings tomorrow, has hired UBS to examine a potential bid for Carrefour’s Brazilian operations, despite the French company claiming the business is not up for sale.

Top 100 family businesses in North America

June 15, 2011

Family businesses are alive and well in the US, with the top 100 generating approximately $1.6 trillion to America’s $14.6 trillion GDP in 2010. Just under half of the top 100 are owned outright by the family, a higher proportion than in Europe, where Campden’s top 100 family business for the region found that less than a third were fully controlled by the family.

Walton family tightens grip on Walmart

June 6, 2011

The world’s largest retailer, family-controlled Walmart, announced on 3 June that it will buyback company shares, a move that will increase the Walton family’s stake in the business.

At the Arkansas-based group’s 41st annual shareholders meeting, the company announced that it will buyback $15 billion shares from investors – a continuation of last year’s $13 billion share repurchase.

Family business giants eye new markets

May 23, 2011

Family-controlled clothing empire Inditex and America’s largest retailer Walmart are eyeing new markets in a quest to further expand their operations.

Inditex, founded by Spanish billionaire Amancio Ortega, announced on 19 May that it has opened its flagship Zara store in Sydney, Australia as part of its strategy to expand in Latin America, Australia and Africa.