FAYETTEVILLE, Ark. — Wal-Mart Stores will emphasize everyday low prices, strong cost controls and push to be a leader in global e-commerce in an effort to win the “next generation customer,” Mike Duke, the retailer’s chief executive officer, said in remarks at the company’s annual meeting here Friday.
Regaining comparable-store sales growth at Wal-Mart’s U.S. stores is the “greatest priority” for the company, Duke said, and will come behind an emphasis on everyday low prices funded by cost savings, along with broader merchandise selections, he said.
Bill Simon, CEO of Wal-Mart’s U.S. division, said the company had restored 8,500 products to store shelves since abandoning the reduced selections as part of Project Impact a year ago. This effort is helping to reverse sales momentum at U.S. stores, he added.
“Our customers can’t buy it if we don’t sell it. And if we don’t sell it they will go somewhere else to buy it,” Simon said. “Even in a small category like air fresheners, where we added an opening price point item, sales are up 88%.”
Recent investments in the U.S. and China have positioned Wal-Mart to become a leader in e-commerce, Duke added. “In global e-commerce, we will not just be competing,” he said. “We will play to win.”
Developing and training associates, and accelerating sustainability and hunger relief programs are other company priorities, Duke said.
