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Wal-Mart now world’s largest company

Monday, April 1, 2002 | 9:44 a.m.

NEW YORK -- Wal-Mart Stores Inc., the discounter that has become the dominant force in American retailing, is now officially the largest company in the nation and the world, capturing the top spot on the annual Fortune 500 list.

Wal-Mart, No. 2 on the list a year ago, traded places with oil giant Exxon Mobil Corp. in the rankings compiled on the basis of companies' annual revenue figures.

Wal-Mart became the first service company to lead the 500, which until 1995 was restricted to manufacturing concerns.

From its founding 40 years ago, the Bentonville, Ark.-based company, which sells everything from fishing tackle to personal computers, has seen its annual revenues and sales surge, going from $1 billion in sales for all of 1979 to sometimes making that much in a single day last year.

Wal-Mart had $219.81 billion in revenues, compared to Exxon Mobil's $191.58 billion. The only other retailer in the top 20 was Atlanta-based Home Depot Inc., which rose to No. 18 from 23, with revenues of $53.55 billion.

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