Walmart 1998 Annual Report Download - page 12

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magine a company with rev-
enues of nearly $120 billion.
This hypothetical company is
the largest in its industry -
not just in the United States, but in
the world.
How likely is it that this company
could continue to be a growth stock?
Not very, the conventional wisdom
would respond - but then, Wal-Mart
has never paid much attention to con-
ventional wisdom.
After passing the milestone of
$100 billion in revenues in fiscal
1997, Wal-Mart followed up by
making 1998 the biggest year in its
history, setting another sales record
with revenues of $118 billion.
Not only did Wal-Mart extend
its standing as the largest retailer in
the world, but our fiscal 1998
increase in sales ($13.1 billion), by
itself, would make Wal-Mart the
ninth-largest retailer in the nation.
“Pound for pound in fiscal 1998,
we had the best year in the history
of the company,” said David Glass,
President and Chief Executive
12
I
I
I
COVER REPORT: MAKING THE GRADE
When Wal-Mart first went
public, a foresighted investor
could have bought 100 shares
of the stock for $1,650.
Today, that investor’s 100
shares would have grown
to 102,400 shares, worth more
than $5.1 million, for an
average gain of more than
$180,000 per year.
SHORTHAND
Fiscal 1998 was another record-setting year for Wal-Mart as we led the industry in sales and earnings.
(shareholder)
VALUE!
(shareholder)
VALUE!