Walmart 2002 Annual Report Download - page 10

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8
What’s in Store for
Our Global Community
Wal-Mart International continues to
prove that sound business strategy and
a focus on core Wal-Mart values provide
the formula for success worldwide.
In fiscal 2002, more than 300,000
Wal-Mart Associates worked together
to exceed our customers’ expectations in
nine countries outside the United States.
They did it by delivering on the Wal-Mart
values of “Service to the Customer,”
“Respect for the Individual,” and “Strive
for Excellence.” And the results speak
for themselves.
In fiscal 2002, Wal-Mart International
sales grew 10.5 percent to $35.5 billion,
while operating income increased
31 percent over the previous year. We
added 107 new stores in multiple retail
formats throughout Brazil, Canada, China,
Germany, Mexico, Puerto Rico, South
Korea and the United Kingdom. We
also expanded our specialty operations,
including jewelry, one-hour photo and
optical labs.
“Every day low prices, quality assortment,
and exceptional service are Wal-Mart
principles that transcend borders, languages
and cultural differences,” says Craig Herkert,
Senior Vice President and Chief Operating
Officer for Wal-Mart International. “Our
customers trust us to deliver on that promise
around the corner, and around the globe.”
From market to market, country to
country, Wal-Mart International continues
to roll out new products and services.
Testing innovations like new Shoe
Department merchandising approaches
and online home-delivery programs has
also contributed to our international
success.
Other innovations include the
introduction of 5,000 new general-
merchandise items in the U.K., and
Brazil’s launch of the new Todo Dia
discount store concept to serve metro
markets there. Germany built and opened
its first two completely new Supercenters
since we entered the country through
acquisition. Argentina’s innovative wine
department is being replicated in our
new stores in Germany. Great Value®
and Equate®private-label products are
now on Wal-Mart shelves across Asia,
Europe, the Americas and the Caribbean.