Business Services Industry
Wal-Mart Now Tops Fortune 500 List.
Knight Ridder/Tribune Business News, April, 2002
By Sudeep Reddy, The Dallas Morning News Knight Ridder/Tribune Business News
Apr. 1--It's official. The Dallas area is no longer home to the world's largest company.
That honor now goes to Bentonville, Ark., a city of 19,730 people that is home to Wal-Mart Stores Inc.
The world's biggest retailer has eclipsed Irving-based Exxon Mobil Corp. as the leader on the revenue-based Fortune 500 list, released Sunday by Fortune magazine. Exxon Mobil is now No. 2, the position Wal-Mart held last year.
Wal-Mart's rise to the top also represents another milestone. It's the first services company to lead the 47-year-old list, illustrating the power of individual consumers in a U.S. economy once dominated by manufacturing.
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