CEO McMillon Says Walmart Embracing Change, Positioning For Continued Success
Business Wire 1-Jun-2018 11:57 AM
Company Aiming to Find "New Ways to Serve Customers Today"
In remarks today at the annual Associate and Shareholders' Meeting,
Walmart President and CEO Doug McMillon said strategic decisions are
positioning the company "for success in the future," even while
delivering results and supporting communities now across the globe.
McMillon signaled the company's transformation is about building new
capabilities to meet changing customer expectations and equipping
associates with tools and training to succeed in the evolving workplace
and, increasingly, in life.
"The common thread in this story is that we're positioning ourselves for
sustained growth, while at the same time we're finding new ways to serve
customers today," McMillon said.
The Friday speech capped a week-long series of events for associates and
shareholders in Northwest Arkansas, tied to the company's 48th
Annual Shareholders' Meeting. McMillon highlighted continuing changes in
the company, from enhanced associate educational opportunities to the
investment in India's Flipkart Group to tech-powered last-mile grocery
delivery.
"Meaningful change is rarely easy but it's essential to set us up for
success in the future," McMillon told shareholders and associates from
around the world in Bud Walton Arena at the University of Arkansas in
Fayetteville, Ark.
While looking to the future, McMillon said Walmart will remain true to
the "values and culture" Sam Walton put in place. A top priority, as
always, remains serving customers. "Our customers are the boss," he
said. Since its founding nearly 56 years ago, the company has grown far
beyond Northwest Arkansas. Walmart now serves nearly 270 million
customers a week in 28 countries and generated $500.3 billion in revenue
last year, representing growth of more than $15 billion. "So we are a
growth company, we just happen to be a big one," he said, adding later:
"The fundamentals of our business, thanks to you, are strong."
Associate Higher Education
McMillon said he was proud of Walmart's
new associate education benefit, which is designed to remove
barriers to college enrollment and graduation. Under the program, which
is being done in partnership with Guild Education, a leading education
benefits platform, Walmart will subsidize the cost of two- and four-year
degrees in Business and Supply Chain Management for all U.S. Walmart and
Sam's Club associates, beyond financial aid and an associate
contribution equivalent to $1 a day. Degrees will be offered through the
University of Florida, Brandman University and Bellevue University –
schools selected for their focus on serving working adult learners.
Additionally, associates can earn college credit for both paid training
at Walmart Academies and skills developed through day-to-day work.
The program is part of a suite of recent enhancements in technology and
training aimed at equipping associates to better meet customer
expectations, while adapting to the rapidly evolving workplace.
"From apps on our mobile devices to automation in the back room, we'll
keep innovating to help you spend more time with customers and members,"
McMillon told associates, adding that technology is helping to create
new jobs, such as personal shoppers for grocery pickup and delivery and
Training Academy facilitators, while also helping to accelerate
training. "We are developing new knowledge and new training. We are
becoming lifelong learners."
Making a Difference
McMillon also spoke about the company's role in society, saying Walmart
is "using the strengths of our business to create shared value for our
communities." That can come in a lot of different forms, he said, from
supporting communities impacted by natural disasters to sustainably
sourcing commodities, such as bananas, to deploying renewable energy
around the globe.
"This past year we were reminded just how important our role can be," he
said, adding a bit later: "The people we serve in communities not only
trust us to be there for them when disaster strikes. They also want to
feel good about our social and environmental impact and trust that the
products we sell are good for their kids and the planet."
For more information on Walmart's shareholders' events please visit https://corporate.walmart.com/newsroom/events.
About Walmart
Walmart Inc. (NYSE:WMT) helps people around the world save money and
live better - anytime and anywhere - in retail stores, online, and
through their mobile devices. Each week, nearly 270 million customers
and members visit our more than 11,700 stores under 65 banners in 28
countries and eCommerce websites. With fiscal year 2018 revenue of
$500.3 billion, Walmart employs approximately 2.3 million associates
worldwide. Walmart continues to be a leader in sustainability, corporate
philanthropy and employment opportunity. Additional information about
Walmart can be found by visiting http://corporate.walmart.com,
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.
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