Walmart 2005 Annual Report Download - page 15

the ones in position to serve customers instead of our
competitors. Second, over time total sales from the two
stores can almost double the sales of the original store.
And third, we can relieve congestion in the first store and
create a better shopping experience for our customers.
We will continue to drive improvement throughout
our stores with a sharp focus on the following:
• Maintaining our price leadership position;
• Merchandising more aggressively;
• Improving our in-stock position;
• Developing and motivating our people while working
to ensure that the Wal-Mart work experience is a good
one for all our associates.
Associates Will Take Us To The
Next Level
Of course, as Sam Walton taught us,
at the end of the day people are the key
to Wal-Mart’s success.
David Smith, the People Director
at ASDA, our U.K. division, puts it well:
“We don’t just look at people as they are,
but as what they can become.” We are proud of the fact
that 76 percent of our store management started their
careers in hourly positions.
There is no question in my mind that Wal-Mart
is the most exciting company in the world in terms of
creating career opportunities for people who want to
learn and excel.
Moreover, there is no culture stronger than the
Wal-Mart culture. This past year, our company has con-
sistently demonstrated its high standards of integrity and
its unwavering commitment to accountability when these
standards are not met. As I talk to associates about how
we have dealt with individuals who have failed to meet
these standards, it is encouraging to hear them talk with
pride about the inherent strength of the Wal-Mart culture
and the fact that integrity applies to everyone at Wal-Mart,
no matter what job or position with the company.
Looking Ahead
As 2005 unfolds, we will continue to grow. With the
support of our suppliers and the focus of our associates,
U.S. comp store sales should increase. SAM’S CLUB® is
building momentum as it delivers upon its promise to
be “in business for small business.” And, 13 years after
we opened our first store in Mexico, the growth of our
international business is accelerating. Today, this is a
$56 billion dollar business that has doubled in size in
just five years.
For me personally, you can expect to see me con-
tinue to tell the Wal-Mart story more aggressively. Our
senior management team will join me in this important
effort in the coming year.
We have such a good story to tell at
Wal-Mart, from the career opportunities
we’re creating, the support we provide to
individual communities, and the improved
standard of living we’re providing to our
customers through our low prices and
wide assortment.
More than ever, I feel privileged to
represent this company, thanks in large part to our
associates. Because of you, we do have a great story to
tell and the individual acts of kindness you show every
day have such a positive impact on our shareholders,
our customers and communities.
My thanks to all of you, including our shareholders,
who help make Wal-Mart such a special company.
Lee Scott
President and Chief Executive Officer
“ Today, Wal-Mart has earned
less than three percent of the
global retail market share.
In other words, about 97 per-
cent of the retail business
around the world is not done
at Wal-Mart today.”
WAL-MART 2005 ANNUAL REPORT 13