Marc Lore is right. On the heels of an explosive report by Recode’s Jason Del Rey, 2PM delves into the forces in play. Amazon alum and Jet founder Marc Lore has always had a tough task within the walls of Walmart Incorporated. Consider the influence of history on his task at hand.
By 1967, the five year old retailer had achieved a profitable $12.6 million in sales, just five years into its proper existence. In today’s money, that’s $96,500,000. The Bentonville, Arkansas retailer would incorporate two years later and IPO within three years, going public in 1972. Today, Walmart is the largest company by revenue and it is the largest private employer in the United States, employing some 2.2 million people. The DNA of the company is one of cash flow and expansion, cash flow and expansion. The genetics will need to change to win the future.
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