and Amigo supermarkets in Puerto Rico. In May 2003 Wal-Mart, seeking to focus solely on retailing, sold its McLane wholesale distribution subsidiary to Berkshire Hathaway Inc. 1997: Revenues surpass 100 billion; Mexican joint ventures are merged into Cifra, and then Wal-Mart acquires a controlling stake in Cifra; the company enters Europe through acquisition of the 21-unit Wertkauf hypermarket chain in Germany. For fiscal years 1996, 1997, and 1998, however, net sales increased 13 percent, 12 percent, and 12 percent, respectively. Furthermore, overall net sales typically had risen 25 percent or more per year in the 1980s and early 1990s. The international store count would likewise increase, by about 100 units. The proceeds from the company's other private label, Sam's American Choice, were to be channeled into the Competitive Edge Scholarship Fund, which celestial bodies coupon the company launched in 1993 in partnership with some vendors and colleges. As another way of looking at the power of Wal-Mart, Fortune in a March 3, 2003 issue estimated that the company's share of the.S. Costs for air conditioning and heating the gigantic spaces were higher than expected. Also in December 1997 Wal-Mart bought out its minority partner in its Brazilian joint venture, which by that time ran five Wal-Mart Supercenters and three Sam's Clubs. Principal Competitors: Target Corporation; Kmart Corporation; Costco Wholesale Corporation; The Kroger.; Albertson's, Inc.; Walgreen.; CVS Corporation; Carrefour SA; Royal Ahold.V.; Toys 'R' Us, Inc.
2003: Fiscal 2003 revenues of 244.52 billion make Wal-Mart the world's largest corporation. Saporito, Bill, "And the Winner Is Still. The new store also featured a drive-through pharmacy. Next on the expansion roster was Japan. The product of the October 1993 merger of Price. "Our American suppliers must commit to improving their pizza hut apple pie coupon code facilities and machinery, remain financially conservative and work to fill our requirements, and most importantly, strive to improve employee productivity Walton told. Wal-Mart subsequently converted the new units into Sam's Clubs. Friedland, Jonathan, and Louise Lee, "The Wal-Mart Way Sometimes Gets Lost in Translation Overseas Wall Street Journal, October 8, 1997,. Sparks, Debra, "Life After Sam Financial World, December 6, 1994,.