Retail business

One of the biggest industries in the United States is retailing. Approximately it accounts for 10 percent of the gross national product. Retail business comprises of several sections including restaurants, convenience stores, auto dealerships, bars, gift shops, merchandise and clothing stores (” Retail” 6). There has been immense development and advancement in American retailing, a good example is Wal-Mart. Wal-Mart is ostensibly the biggest retailer and company globally with a whopping $312 annual sales.

This giant retailer presents a wide range of products such as apparel, electronics, accessories, healthitems, jewelry, automotive goods, mobile phones, appliances and various services including mobile and financial. After years of service, Wal-Mart has achieved the recognition of the most admired company for the second consecutive time in Fortune Magazine during the year of 2004. For the past 5 years, other recognitions received were Evangeline Booth Award Excellence in Corporate Philanthropy and The Ron Brown Award for CorporateLeadership.