Last Year's Ranking: 1
Revenue ($ millions): 378,799.00
Profit ($ millions): 12,731.00
A facelift and even lower prices kept the world’s largest retailer afloat in a troubled economy. Staring down the barrel of brutal fourth-quarter retail forecasts, CEO Lee Scott dramatically cut prices on 15,000 items - including popular toys and electronics - by 20% more than usual to lure holiday shoppers. That rocked the industry, pressuring other retailers to squeeze already tight margins. The tactic worked: Wal-Mart grossed $100 billion, breaking its fourth-quarter sales record, and soundly beat Target in same-store holiday sales for the first time in nearly a decade.
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