The Records Tumble In This Summer of 1972 With Wal-Mart
Some years we’re in, and I’d like to recap briefly just a few of the most recent highlights in this busy year.
The June-July period was our most active ever for new stores with a total of six new ones opened as follows: Bartlesville with 60,000 square feet; south Springdale No. 54 with 60,000 square feet; Hot Springs with 60,000 square feet; Jonesboro with 60,000 square feet; Sallisaw with 30,000 square feet; and Bolivar with 30,000 square feet. The above stores totaled an astounding 300,000 square feet of floor space. And best of all, every one of these stores appears to be headed for excellent sales and profit potential. Let me again personally welcome these approximately 350 new Wal-Mart employees who did such a great job of putting these six new stores together. We’re pulling for you and know you’ll contribute much to our total Wal-Mart program.
One new store in particular deserves special commendation. The Jonesboro Grand Opening Sale was the largest ever in our Company exceeding all previous records. Congratulations No. 52, Richard Cudd and associates and District Supervisor, James Arthur Dismore. Let me say though that Phil Green and team at Hot Springs as well as several others are hot on your heels. In fact last week Hot Springs beat Jonesboro. When the dust settles from these openings we’ll see who will be No. 1 again. I have a feeling that it will be a real dog fight between as many as eight of our larger stores.
A couple of other items need to be noted. Effective this August 25 our stock will be traded on the New York Stock Exchange. Now we can all keep up on a daily basis with the price of our Wal-Mart stock. The symbol will be “WMT.” I know you all share my intense pride in this accomplishment. We’ll be the second Arkansas company to be so listed and one of a select group from all five states in which we operate.
Lastly, you’ll be most pleased to learn that our Wal-Mart Stores, Inc. second quarterly report was again excellent. Wal-Mart net earnings were $1,662,449 for the six month period ending July 31, 1972. This represents an increase of 81 per cent over net earnings during the comparable period in 1971. For the three months ending July 31, 1972 net earnings were $951,026 or 79 per cent greater than during the same period in the previous year. Sales for the three month period ending July 31, 1972 were $29,918,394 compared to $18,207,498 for that same period in 1971. This represents a 64 per cent increase. Credit for this tremendous record must be given to our older mature stores along with the new stores that were opened in 1971. Thanks go to all of you from the rest of us. So far things look exceptionally good for the balance of 1972 and for our Profit Sharing Trust Plan and for the continued sound operation of our Wal-Mart Company.
What we appreciate most are the suggestions we’re getting from the department heads and employees at store level as to ways to improve our stores and our program. We had a great meeting last week with most of the department heads and employees from eight northwest Arkansas area stores. Also, many of you have come up with excellent ideas in your local store meetings with your managers and district supervisors. That kind of interest and enthusiasm is really what makes Wal-Mart Company.
Thanks and keep up the good work.
Sam M. Walton