Walmart 2007 Annual Report Download - page 21

19
Reinvigorating the Brand
S
am
’s
C
l
u
b
i
s
b
ui
ld
ing
on
i
t
s
f
oundation
by
deepening
y
re
l
ations
h
ips
w
i
th
s
m
a
l
l
bus
in
ess
o
wn
e
r
s
throu
g
h r
e
l
e
v
a
n
t
p
roduc
t
o
erings


suc
h
as
ou
r new
,
commercial-
g
rad
e
BAKER
S
&
C
HEF
S™
coo
kw
a
r
e
f
or
f
oo
d
serv
i
ce en
t
repreneurs an
d
by
o
y
ering


va
l
ua
ble
serv
i
ces,
i
n-
cl
u
d
ing
a
o
r
d
a
bl
e


h
ea
l
t
h
care a
l
ternative
s
an
d
savings
on
b
ran
d
e
d
a
n
d
g
eneri
c
p
rescri
p
tio
n
dru
g
p
rices
,
to
hel
p
bus
in
esses
r
u
n m
o
r
e
pro
tably.

We
a
l
so
are
b
roa
d
ening
o
u
r
appea
l
t
o A
d
vantag
e
mem-
b
ers
by
i
mprov
i
n
g
y
t
he
quality
and
y
un
i
quenes
s
of
personal
f
nee
ds
a
n
d
a
o
r
dab
l
e


luxury
o
y
erings


lik
e
our
n
e
w
b
i
st
r
o
ca
k
e
f
ou
n
d
in
ou
rfr
es
hbaker
y,
whi
ch
i
s
co
v
e
r
ed
wi
th
authentic
,
ri
c
h
g
anache,
typically
found
y
only
in
y
t
he

nest

b
a
k
eries
.
Improving Member Experience
In
add
i
t
i
o
n
to
makin
g
ce
r
ta
i
n
w
e
h
a
v
e
t
h
e
ri
g
h
t
i
te
m
s
a
v
a
il
ab
l
e
t
o
o
u
r
mem
b
ers,
e
v
ery
Sam
’s
C
l
u
b
mus
t
d
e
l
ive
r
a
grea
t
in-c
l
u
b
e
xper
i
ence.
W
e
h
ave improve
d
c
h
ec
k
-out e
ff
iciency
.
Jewe
l
ry
,
e
l
ect
r
o
ni
cs
a
n
d
o
ffi
ce
su
pp
lies h
a
v
e
bee
n m
o
v
ed
to
t
h
e
fr
o
n
t
of
t
he
f
c
l
u
b
an
d
are
d
isp
l
aye
d
prominent
ly
to
i
mprove t
h
e en
t
ry
i
mpress
i
on.
In
o
u
r
new
c
l
u
b
s, w
e
h
ave re
d
esigne
d
o
u
r
l
og
o
an
d
s
i
g
nin
g
to
r
e
fr
es
h
ou
r
b
r
a
n
d
a
n
d
im
p
rov
e
in-
c
l
ub
navi
g
ation. W
e
a
l
so
h
a
v
e
in
c
r
eased
t
h
e
a
m
ou
n
t
of
n
atu
r
al
f
li
g
htin
g
in
ou
r n
e
w
cl
u
b
s
,
a
l
ong wit
h
expan
d
ing
o
u
r
F
ax
‘
N
’
Pull/Click
’
‘
N
’
Pull
’
area
to
p
rocess orders from our members mor
e
quickly
.
Improving Club Performance
We
w
o
rk h
a
r
d
to
m
a
k
e
Sa
m’
s
C
l
ub
m
o
r
e
appealin
g
f
o
r
ou
r
m
em
b
ers.
Speed-to-
oor

inventory
managemen
t
y
i
s acce
l
erating
,
p
ro
d
uctivity
i
s
i
ncreas
i
ng
,
an
d
w
e
are
i
nst
i
tut
i
ng money-sav
i
n
g
s
ustainabilit
y
p
ractices
,
suc
h
as
our
use
of
skylights
f
a
n
d
LE
D
l
ig
h
ting an
d
i
ncreas
i
n
g
o
u
r
recyc
l
in
g
e
o
r
t
s.


All
of
t
h
ese
f
ini
t
i
at
iv
es
h
a
v
e
hel
p
ed
us
g
row operatin
g
in
co
m
e
f
aster t
h
an sa
l
es
f
or s
i
xconsecut
i
v
e
quar
t
ers
.
T
ota
l
num
b
er
of
c
l
u
b
s:
f
579 as
of
January
f
31
,
2007
Total
FY
’07
sales:
$
4
2
b
i
ll
i
on
Sales
Operating Income
Operating income and sales growth by quarter
0
5%
10%
15%
20%
Q1 Q2 Q3 Q4
Unlocking Value
Internationa
l
i
s
f
ocused
on
putt
i
ng
reso
u
r
c
es
,
b
ot
h

nancial

an
d
peop
l
e,
t
owor
k
on
w
h
a
t
is
mos
t
i
mportant.
G
oing
forward
,
t
h
at
m
ea
n
s
placin
g
priorit
y
o
n drivin
g
t
h
e
Compan
y
’
s
p
resenc
e
wh
e
r
e
t
h
e
g
reatest
g
rowt
h
a
n
d
g
reatest r
etu
rn
s
exist
,
i.e.
,
“ma
j
orin
g
in
t
h
e
majors.”
Such
”
i
s
t
h
e
case
in
M
e
xi
co
wh
e
r
e
w
e
cont
i
nu
e
t
o
see
cons
i
stent growt
h
i
n a
ll
f
ormats
.
Li
k
ewise
i
n
Cana
d
a
,
w
e
wi
ll
cont
i
nu
e
expan
d
in
g
o
u
r
supercen
t
res
as
they
c
on
-
y
tinue t
o
generate positive results
.
I
nSouth an
d
Centra
l
America
,
w
e
a
l
so
a
r
e
experiencin
g
stron
g
p
erformance.
A Two-Part Strategy
To
accomplis
h
ou
r
ob
j
ectives, w
e
concentrat
e
o
n
tw
o
areas:
f
ocused
p
ortfoli
o
e
x
ecut
i
o
n
a
n
d
g
lobal levera
g
e. Currentl
y
,
ou
r
p
ortfolio in
c
l
udes
4
6
sto
r
e
ba
nn
e
r
s
in
nin
e
f
o
rm
ats
of
varying
f
s
i
ze
i
n 1
3
mar
k
et
s
outsi
d
e t
he
Unite
d
S
tates.
By
focused
y
port
f
oli
o
execut
i
on, w
e
mean
t
h
at expans
i
o
n
wi
ll
o
ccu
r
i
n t
h
ose countr
i
e
s
where we have th
e
greatest
ability
to
y
captur
e
value and wher
e
the
g
reatest v
a
l
ue
c
r
eat
i
o
n
p
otentia
l
r
es
i
des.
F
ocused
p
ortfoli
o
e
x
ecu-
t
i
on
a
l
so
m
ea
n
s
g
rowin
g
com
p
arabl
e
sto
r
e
sa
l
es
a
n
d
operatin
g
i
ncom
e
f
ro
m
ex
i
st
i
n
g
s
t
ore
s
by
pay
i
n
g
y
attent
i
on
to
t
he
b
asics
of
serving
f
o
u
r
cus
t
omers
.
It
means
d
eve
l
oping
a
f
oundation
f
or
greater long-range busines
s
plans tha
t
address emerging markets
suc
h
as
In
d
i
a
a
n
d
C
hin
a.
Moreover
,
to
stren
g
the
n
ou
r
p
ortfoli
o
execution
,
w
e
a
r
e
investin
g
in
custo
m
e
r
a
n
d
m
a
rk
et
r
esea
r
c
h
to
en
h
ance
o
u
r
s
t
ore
of
t
he
f
community
format.
y
As
f
or g
l
o
b
a
l
l
everage
,
w
e
are
i
nten
t
on
ta
k
in
g
f
ull a
d
vantag
e
of
our
f
wor
ld
wi
de
assets, inc
l
u
d
ing formats
,
informatio
n
systems
,
purchasin
g
or
g
anizations
,
categor
y
ex
p
ertise
a
n
d
s
h
a
r
ed
best
p
ractices
.
M
ost
im
p
ortant, w
e
a
r
e
levera
g
in
g
t
h
e
ta
l
e
n
ts
of
excep-
f
tiona
l
Wa
l
-Mart assoc
i
ates aroun
d
t
h
ewor
ld
.
O
u
r
internationa
l
s
t
ra
t
eg
y
cont
i
nue
s
t
o
b
a
l
ance t
h
e a
b
i
l
it
y
to
levera
ge
W
a
l-M
a
r
t
’
s
g
lobal
b
r
a
n
d
p
owe
r
wi
th
t
h
e
n
eed
f
o
r
l
ocal
autonom
y.
Tota
l
num
b
er
of
l
ocations:
f
2
,
757 as
of
January
f
31
,
2007
Tota
l
FY
‘0
7
sales
:
$
7
7
billio
n
INTERNATIONAL
Total International portfolio of locations
(The Americas, Europe and Asia)
465
335
1,957
Europe – 12%
Asia – 17%
The Americas – 71%
Units
Fiscal year ‘07