The name of the corporation is Wal-Mart Stores, Inc.

It is a multinational retail corporation that runs chains of large discount department stores and warehouse stores. It is the world's third largest corporation, biggest private employer, employing 2 million employees, and it is largest retailer in the world. It is a closely-held company because it is a family corporation. It is owned by Walton family who owns 48 percent of the corporation. It is also one of the world's most valuable companies. Wal-Mart is also the largest grocery retailer in the United States. Walmart has 8,500 stores in 15 countries, under 55 different names. The company operates under the Walmart name in the United States, including the 50 states and Puerto Rico. It operates in Mexico as Walmex, in the United Kingdom as Asda, in Japan as Seiyu, and in India as Best Price. It has wholly owned operations in Argentina, Brazil, and Canada. Walmart's investments outside North America have had mixed results: its operations in the United Kingdom, South America, and China are highly successful, whereas ventures in Germany and South Korea were unsuccessful. The company was incorporated as Wal-Mart Stores, Inc. on October 31, 1969. In 1970, it opened its home office and first distribution center in Bentonville, Arkansas. It had 38 stores operating with 1,500 employees and sales of $44.2 million. It began trading stock as a publicly held company on October 1, 1970, and was soon listed on the New York Stock Exchange. The first stock split occurred in May 1971 at a market price of $47. By this time, Wal-Mart was operating in five states: Arkansas, Kansas, Louisiana, Missouri, and Oklahoma; it entered Tennessee in 1973 and Kentucky and Mississippi in 1974. As it moved into Texas in 1975, there were 125 stores with 7,500

employees and total sales of $340.3 million.[17] Walmart opened its first Texas store in Mount Pleasant on November 11, 1975 The chairman of the board of directors is Rob Walton while the members of the board are Aida M. Alvarez, James W. Breyer, Michelle Burns, James I. Cash Jr., Roger C. Corbett, Douglas N. Daft, Mike Duke, Timothy P. Flynn, Marissa A. Mayer, Gregory P. Benner, Steven S. Reinemund, H. Lee Scott Jr., Arne M. Sorenson, Jim C. Walton, Christopher J. Williams and Linda S. Wolf. The president and CEO of Wal-Mart stores Inc. is Mike Duke. The corporation issues preferred and common stocks with both having $0.10 par value. For common stocks, it has 100 shares authorized and none issued. For preference stock, 11000 shares authorized, 3418 shares issued and 3516 stocks outstanding, as of January 31, 2012. The shares are recorded at par value method. The corporation does not have treasury shares. The retained earnings for the year 2012 is $68, 691. All of the retained earnings are free that's why it can be used in any events that it is needed.