Sam's Club opened its first discount warehouse in Midwest City, Oklahoma, in 1983.
The name is an homage to Sam Walton, the famous businessman and founder of Walmart.
Today, Sam's Club touts nearly 600 discount warehouses nationwide and 47 million members.
Sam's Club, a Walmart-owned members-only chain, has more than 47 million members across about 600 US discount warehouses nationwide and recently celebrated its 40th anniversary.Sam's Club membership card.
The Sam's Club name is an homage to Sam Walton, the founder of Walmart, who wanted to provide small businesses and other customers a space to buy items in bulk for a discount.
"Mr. Sam wanted to leverage his resources to help other entrepreneurs like himself access the products and services they needed to make their small businesses succeed," Sam's Club's website states.An image of founder Sam Walton on display at a newly opened Sam's Club in China.
Walton decided to call it a "club" because he wanted to compete against the then-leader in low-priced, members-only retail warehouse stores, Price Club.
The first Sam's Club also opened in 1983, in Midwest City, Oklahoma.
Walmart Museum
In 1987, Sam's Club made its first acquisition by purchasing Louisiana-based SuperSaver Wholesale Warehouse Club, which added more than 20 stores across 13 states to Sam's Club.
And in 1993, Sam's Club acquired Pace Membership Warehouse from Kmart, converting many of the more than 90 locations into Sam's Club stores.Shopping carts in a corral in the parking lot of a Sam's Club store in Concord, N.H., Friday, Feb. 23, 2018.
Kathryn McLay is the current CEO of Sam's Club, assuming the role in 2019. "We still see ourselves as the 'experiment' Sam Walton launched back in 1983, always looking to evolve and improve," she said in a recent LinkedIn post.
The company had to hike up membership fees from $45 to $50 in the summer of 2022, its first price hike since 2013, due to inflationary pressures, it said.
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