BENTONVILLE, Ark. , Oct. 21 -- Wal-Mart Stores, Inc. (NYSE: WMT) President and CEO Mike Duke today provided the company's outlook for enhancing shareholder value at the company's 16th Annual Meeting for the Investment Community. He focused his remarks on executing three key priorities - continuing to have aggressive growth plans, leveraging global scale and expenses, and improving the returns of each operating segment - to further enhance shareholder value.
"There is no retail competitor - here in the United States or anywhere in the world - that can deliver the kind of growth that Walmart can over the next several years," Duke said.
He also committed to improving Walmart's expense structure by taking greater advantage of the company's scale and driving further productivity and efficiency throughout the system.
"Expenses will grow less than sales and Walmart's entire management team is re-energized to improve in this important metric. The productivity loop is back at Walmart," Duke said.
Addressing return on investment (ROI), Duke said, "Each operating segment has a long-term plan to improve ROI. We plan to continue to produce significant free cash flow, which will drive our ROI performance and deliver greater shareholder value."
"Growth, leverage and returns throughout the company all lead to greater shareholder value," he said.
Duke noted that the company's strong operating performance demonstrates that its strategies are working. He said that the company's focus on its mission of "saving people money so they can live better" and price leadership in every market has enabled Walmart to gain and retain new customers.
Duke concluded his opening remarks to investors by saying, "I'm competitive by nature and I want to win. There is no doubt in my mind that Walmart will continue to win in retail around the world."
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at more than 8,000 retail units under 53 different banners in 15 countries. With fiscal year 2009 sales of $401 billion , Walmart employs more than 2.1 million associates worldwide. A leader in sustainability, corporate philanthropy and employment opportunity, Walmart ranked first among retailers in Fortune magazine's 2009 Most Admired Companies survey. Additional information about Walmart can be found by visiting www.walmartstores.com. Online merchandise sales are available at www.walmart.com and www.samsclub.com.
This release contains statements that Walmart believes are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and that are intended to enjoy the protection of the safe harbor for forward-looking statements provided by that act. These forward-looking statements relate to Walmart's management's expectations that Walmart will be a growth company and will continue to grow sales in the United States and will grow aggressively in its International division, that Walmart expenses will grow less than sales, that Walmart will drive productivity and efficiency throughout its system, that Walmart will work harder to leverage the size of the company, and that Walmart will continue to produce significant free cash flow. Those statements are identified by use of the word "will grow" or "will drive," "will work," or "plan" in the statements. Those forward-looking statements are subject to risks, uncertainties and other factors, domestically and internationally, including general economic conditions, the availability of consumer credit, consumer discretionary spending, consumer spending patterns and debt levels, unemployment levels, fuel prices, inflation and deflation levels, weather conditions, competitive pressures and other risks. Walmart discusses certain of these matters and other risk factors more fully in its filings with the SEC , including its most recent annual report on Form 10-K filed with the SEC . This release should be read in conjunction with that annual report on Form 10-K. Walmart urges you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements made in this release and not to place undue reliance on such statements. As a result of these and other matters, including changes in facts, assumptions not being realized or other circumstances, Walmart's actual results may differ materially from those discussed in such forward-looking statements. The forward-looking statements included in this release are made only as of the date of this release, and Walmart undertakes no obligation to update such statements to reflect subsequent events or circumstances.
SOURCE Wal-Mart Stores, Inc.
John Simley of Walmart, 1-800-331-0085
