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Walmart Annual Meeting: McMillon Says Company Will ‘Reimagine Retail’

Doug McMillon

On Friday, June 3, at Walmart’s 46th annual shareholders meeting, President and CEO Doug McMillon urged the company’s 2.3 million associates to get behind the company’s vision, saying, “We have the opportunity to reimagine retail again.”

As part of this “reimagining,” McMillon announced that Walmart is now working with Uber and other partners to test deliveries to customers from U.S. stores and clubs. He also went to Facebook Live to thank Walmart associates around the world for their service.

McMillon outlined three critical steps for the retailer’s reinvention to the more than 14,000 in attendance: supporting and engaging Walmart associates, serving customers and serving communities.

“As the world becomes more digital, it will be the humanity of Walmart that differentiates us and wins with customers,” he said. “Our investments in education and training, store structure, wages, hours and sales floor technology are to support you and enable you to serve your customers and members. Every associate has a role to play. The actions of 2.3 million of you add up to something big.”

McMillon referenced the company’s purpose of saving people money so they can live better and said part of living better is about being able to “invest time in the people and the life you love.

“This is our ambition globally: we want to be the first place busy families go to save money and time, especially on their everyday needs. We’re connecting all the parts of Walmart into one seamless shopping experience with great stores, easy pickup, fast delivery, and apps and websites that are simple to use.”

In the U.S. in particular, Walmart associates are more engaged, merchandise assortment is improving, and inventory flow is better, McMillon said. Online grocery pickup has rolled out in nearly 40 markets.

Also in the U.S., the retailer will offer Walmart Pay in every store by the end of June, and the retailer recently announced an unlimited two-day shipping option from Walmart.com and a rapid online assortment expansion.

“We’ll be there for our customers—making their lives simpler and better. And customers will choose Walmart because we’ve earned it,” McMillon said.

McMillon also spoke about the company’s role in serving communities.

“Our customers care about their neighbors, their planet and their children’s future. They want to buy products that are good for the environment and the people who made them. They want items that are safe and healthy for their families. And ultimately they want to spend their money with a retailer they trust. We earn trust by operating in a way you and your family can be proud of. We’ll do that and more.”

For more information or to watch a replay of the shareholders meeting, visit walmartshareholders.com.

Bentonville, Arkansas-based Walmart operates 11,527 stores under 63 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2016 revenue of $482 billion, Walmart employs more than 2.3 million associates worldwide.

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