Wal-Mart Stores, the Northwest Arkansas-based company that’s the world’s largest employer, increased its annual revenue but slipped to second on the latest Fortune 500 list.
Fortune magazine announced its list on Monday, May 7, and the full list is at Fortune 500 2012
Headquartered in Bentonville, Wal-Mart’s annual revenue increased to almost $447 billion, up from $421 billion last year. However, Texas-based oil company Exxon Mobil rose to No. 1 as higher oil prices helped its revenue increase from $355 billion last year to more than $452 billion this year.
Wal-Mart held the No. 1 position in 2010 and 2011 and it has jostled with Exxon Mobil for the top spot over the past decade. Wal-Mart was first recognized as the nation’s largest company in 2002 and it’s been recognized as the nation’s largest company seven other times.
Tyson Foods, which is based in Springdale, increased its revenue, too, and it is No. 96 on Fortune magazine’s annual list. Its revenue rose to $32.3 billion, up from $28.4 billion last year.
In all, Arkansas has four companies in the Fortune 500, more than 24 other states. The other states with four companies on the list are Nevada and Oklahoma.
Arkansas’ other Fortune 500 companies are El Dorado’s Murphy Oil (No. 98) and Little Rock’s Dillard’s (No. 383).
What’s remarkable about Wal-Mart is how much bigger it is than so many other Fortune 500 companies. It’s more than six times the size of Target, ranked No. 38 and one of its top competitors.
Other information about the Arkansas companies on the Fortune list:
- Wal-Mart’s revenue of $447 billion is more than the combined revenue of the 24 Virginia companies on the list ($355 billion) as well as the 15 Georgia companies ($317 billion).
- Just 12 states have more Fortune 100 members than Arkansas. New York leads the way with 17 Fortune 100 members.
- Kansas City, which has three Fortune 500 companies (Sprint Nextel, Seaboard and YRC Worldwide), is the only metropolitan area within a 300-mile drive of Northwest Arkansas with more Fortune 500 companies than Northwest Arkansas (Wal-Mart and Tyson Foods).