ROGERS, Ark. -- The man who invented Walmart's "every day low pricing" strategy and helped turn the discount chain into a worldwide retailer died on Tuesday night. Jack Shewmaker grew up in Buffalo, Mo., and was a benefactor for the school in that town as well as other institutions.
Walmart founder Sam Walton personally hired Shewmaker in 1970 and he served in a variety of jobs. He became company president during the 1980s and retired in 1988.
Shewmaker created Students in Free Enterprise, headquartered in Springfield, and was a major contributor to Drury University, Southwest Baptist University, and several other colleges. He was on the Drury Board of Trustees since 1984, and the Shewmaker Communications Center there is named for him and his wife, Melba.
He was 72 years old. His funeral is scheduled for Monday at noon at Fellowship Bible Church of Northwest Arkansas in Rogers.