Wal-Mart Stores Inc., the world's largest retailer, gave $4 million to Colorado charities in 2005, according to the company.That's 1.6 percent of the total $245 million Wal-Mart (NYSE: WMT - News) made last year in cash and in-kind donations to more than 100,000 charitable groups in this country.
Wal-Mart stores helped raise another $72.3 million last year for charity, bringing its total charitable contributions to $319.2 million.
In 2005, Wal-Mart gave $4.04 million in cash and in-kind donations to Colorado causes and groups, according to the company. With additional funds raised through stores in this state, the retailer raised $5.17 million for local charities during the year.
Wal-Mart employs 24,430 in Colorado at 73 stores and two distribution centers. The company paid more than $18.3 million in state and local taxes here in 2005.
Nationwide groups that benefited from Wal-Mart funds last year ranged from an Atlanta elementary school and an Indiana Little League team to the United Way of America and Children's Miracle Network.
Wal-Mart donated $18 million cash to hurricane relief alone, in the wake of last year's Hurricane Katrina and other damaging storms.
"We operate globally, but we give back locally," Ray Bracy, Wal-Mart's vice president of corporate affairs, said in a statement.
The Bentonville, Ark., retail giant reported total 2005 revenue of $315.7 billion, up 9.6 percent from $288 billion the previous year.
Last year's net income increased 8.7 percent to $11.2 billion from $10.3 billion a year earlier.
The company employs 1.8 million people worldwide, including 1.3 million in this country. Wal-Mart has more than 6,400 facilities, including stores and distribution centers, around the world.
Its stores include 185,000-square-foot-plus Supercenters, standard Wal-Mart discount stores, Neighborhood Market grocery stores and Sam's Club membership stores.
Wal-Mart has been criticized over the years for some of its business practices -- from being anti-union and using predatory pricing that drives smaller, often locally owned competitors out of business to strong-arming suppliers to keep their prices down. The retailer also has come under fire for its product selection -- not selling emergency contraception pills and some men's magazine, but offering rifles and R-rated movies.
Published July 18, 2006 by The Denver Business Journal