Judith McKenna, President and CEO, Walmart International, Remarks at 2019 Walmart Associate and Shareholders Meeting

Judith McKenna, President and CEO, Walmart International, Remarks at 2019 Walmart Associate and Shareholders Meeting

The following are prepared remarks for Judith McKenna, President and CEO, Walmart International, at the 2019 Walmart Associate and Shareholders Meeting on June 7, 2019.

Good morning, Walmart... and particularly Walmart International!

That video reminds me of why I love this week. This week is all about celebrating our culture and sharing incredible moments together.

But above all, it’s about you.

It’s a celebration of you and all that you do at Walmart.

So, before I do anything else to all of our associates in every business and every country around the globe, let me simply say “thank you.” Thank you for making a difference to our customers, to our business and to each other.

This morning, we’ve heard about the strength of our business. We’ve seen some of the exciting innovations and talked about our journey to become even more customer-centric.

We’ve heard more about what we’re doing as a company to build trust in our communities – and I love how Greg talked about relationships as a catalyst for incredible things.

What you’ve seen and heard this morning is that the world is changing fast and our business is changing with it. Around the world in International, we're partnering inside and outside the company to build strong local businesses, powered by Walmart.

Strong local businesses is all about being relevant for our customers in each market in which we operate. And it's about positioning our businesses for long-term success.

And Powered by Walmart is how we leverage our unique scale, capabilities, and talent across the Walmart family.

As you heard Brett mention earlier we delivered positive comps in 8 of 10 markets last year. We invested in India with Flipkart, we continued our expansion of omni-channel, focusing on grocery and we deepened our relationships with partners such as Rakuten in Japan and Dada in China.

The work we are doing is powered by our associates and supported by innovation everywhere across International.

To bring that to life, I want to start with a story about collaboration from Walmart Mexico who is one of our strongest businesses. They led International in sales last year. The team there are changing the way they work in big, fundamental ways to become an even stronger business.

Out there with his team is Gui Loureiro, our President and CEO of Walmart de Mexico and Central America. Hola, Gui!

Hola, Judith. And buenos días, Walmart de México y Centro América!! It's an honor to share what we are doing in Mexico to transform and become a more agile organization. As you mentioned, we are changing how we think, how we approach problems and how we work more collaboratively.

We are putting our customers and associates at the center of every decision – and we are using data and technology to make better and faster decisions.

One example of this is CASHI. CASHI is our digital wallet, which we are currently testing in the market. Through CASHI, we will provide access to digital payments and financial services, that create a stronger digital connection with our customers.

In Mexico, nearly a third of the population has neither a credit card nor a bank account. This is a unique opportunity for us in Walmart Mexico to make life easier for our customers.

Today, we are offering the ability to deposit money into CASHI at our stores. And with their new digital wallet, customers can use it to pay for everyday items as well as gain access to everyday services like Netflix, Spotify, Uber, cable TV and utilities.

So Judith, we are really excited about the transformation journey we have begun in Mexico and CASHI is another step in the right direction when it comes to moving fast and finding new ways to serve our customers.

Thank you, Gui. And thanks to your team for continuing to re-imagine our business in Mexico.

You know what’s really special about the CASHI story is that it’s a true example of what we’re able to create when we use the full power of Walmart. The Mexico team partnered with other teams right across Walmart. Together they created a platform that empowers customers and is also helping us build an even stronger local business.

Another one of our businesses that is getting stronger by building on our culture of innovation and working together is Walmart China, where our CEO Yuen Tan and the team launched Omega 8 earlier this year.

This is an initiative which is bringing together 50 start-ups to explore how cutting-edge technology can be used to solve specific customer pain-points and make life easier for our associates as well. Already they’re developing and testing some remarkable innovations.

They’re using computer vision to identify products and simplify the shopping experience. They’re experimenting with robotics in their backrooms and distribution centers to increase capacity and improve efficiency. And they’re also testing wearable technology that helps associates quickly pick and sort items for faster pickup and delivery.

Such an important part of our strategy is making life easier for customers and associates. Omega 8 is a brilliant example of that. And, believe me, there's a lot more to come over the next year and beyond.

We've talked a lot today about technology and how we're putting it to work to make Walmart stronger. But at the end of the day, nothing is possible without people.

Great people make great things happen. And to have great people, you need to have an inclusive business. We are working hard at Walmart in every corner of the world to be inclusive so that people can bring their best selves to work.

I think a great example of this is in Flipkart. They have a delivery business called EKART that delivers right across India. And, I love the fact we call our delivery experts “Wishmasters.” Not only are they mastering the art of delivery they're also treating every order as if it was a wish. And on top of that, they are doing something truly special there to be more inclusive.

Making wishes come true... one opportunity, one delivery, one customer at a time.

Nothing will matter more to the future of our company than how we work together and take care of each other. The world is changing fast and so are we.

In International, we will continue to innovate around the world and find new ways to take on big challenges in our business and for the communities we serve. I'm so proud to stand alongside every Walmart associate in every corner of the world and say together, we believe that anything is possible.

Enjoy the rest of the meeting.