ABSTRACT
In 2003, Wal-Mart continued its reign as the world's largest corporation, with sales of $259 billion. Wal-Mart's revenues grew by more than $100 billion between 1997 and 2002, and the value of its stock increased 400 percent. In the United States alone, Wal-Mart employs over 1 million people, making it the country's largest employer. To maintain and increase its high stock value, which in 2002 was 42 times earnings, Wal-Mart has undertaken an aggressive plan to go global with the Wal-Mart concept. Wal-Mart has succeeded in transplanting its cost- and logistics-driven model to Canada and Mexico, which in 2001 composed the lion's share of the 17 percent of Wal-Mart's total profits obtained from non-U.S. operations. Despite its mammoth size and technical prowess, however, Wal-Mart is having difficulty building successful operations in Europe, particularly in Germany, where after four years of significant investment, Wal-Mart cannot foresee a profit.
