Amazon vs. Wal-Mart: The Retail Price Wars

Headquartered in Bentonville, Arkansas, Wal-Mart was founded by Sam Walton in 1962 and incorporated on October 31, 1969. It operated as a chain of hypermarkets, discount department stores, and grocery stores in several countries across the world. According to the Fortune Global 500 list in 2016, Wal-Mart was ‘The World’s largest company by revenue’ and also ‘The world’s largest private employer’, with 2.3 million employees. Wal-Mart’s total revenue for the fiscal year ended January 31, 2017, was US$485.9 billion. From 2006, the net sales (worldwide) of Wal-Mart had been increasing gradually, indicating the scope of Wal-Mart’s business throughout the world (Refer to Exhibit I for Wal-Mart’s Net Sales Worldwide from 2006 to 2017). Doug McMillon took over as CEO of Wal-Mart in 2014..