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Wally world going big!
alledan
Member Posts: 19,541
New York-AP -- Wal-Mart is poised to become the biggest company in the world.The discount chain is on track to earn some seven (b) billion dollars more than current top-spot holder, Exxon Mobil, in its fiscal year ending this month.Industry analysts say it's an "incredible story" because Wal-Mart doesn't make anything.Wal-Mart was founded 40 years ago in Arkansas by Sam Walton. It's grown more than ten percent annually for the past 20 years, expanding into Asia, Europe and South America.Industry watchers say Wal-Mart's success is due in large part to Walton's belief that a store should pressure suppliers for lower prices and then pass the savings on to the customers.Fortune magazine's list of the world's 500 biggest corporations comes out in April.
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