Last updated on October 11th, 2016 at 11:47 am
At its 2016 Investment Community Meeting last week Walmart Stores outlined the company’s strategic framework to grow by serving customers across all channels, creating a seamless shopping experience.
Walmart President and CEO Doug McMillon outlined four key areas of focus to drive continued success:
• Make every day easier for busy families;
• Operate with discipline, including a continued focus on expense management;
• Be the most trusted retailer; and
• Deliver results and position the company to win.
McMillon noted ongoing success will be driven by a number of factors. These include continued momentum in the U.S. business; solid growth in key international markets, including Mexico and Canada; a sharpened focus in China; and e-commerce investments. Walmart bought e-commerce company Jet.com for approximately $3 billion in September.
“We are encouraged by the progress we’re seeing across our business, and we’re moving with speed to position the company to win the future of retail. Our customers want us to run great stores, provide a great e-commerce experience and find ways to save them money and time seamlessly—so that’s what we’re doing,” McMillon said.
Walmart CFO Brett Biggs outlined the Bentonville, Arkansas-based company’s financial framework to deliver strong, efficient growth, operate with discipline and allocate capital strategically to drive long-term shareholder value. The company will rely more on comp sales and e-commerce growth to drive the top line and plans to slow new-store openings, while increasing investments in e-commerce, technology, store remodels and other customer initiatives.
Biggs said, “I’m pleased with the momentum in our business. We have the financial strength to strategically invest in growth, while returning significant cash to shareholders in the form of dividends and share repurchases.”