Walmart 2009 Annual Report Download - page 4

2 Wal-Mart 2009 Annual Report
I’m fortunate to have assumed
my new role as president and chief
executive officer at this time in
Wal-Mart’s history. Our Company is
so well positioned for today’s di cult
economy and tomorrow’s changing
world. We have an exceptionally
strong management team, able to
execute our strategy, perform every
single day, and deliver results. This
success is a tribute to the hard work
of many people, but especially Lee
Scott. We appreciate Lee for his ser-
vice and outstanding leadership of
our Company.
At Wal-Mart, we’re very pleased with
last year’s annual performance, espe-
cially relative to competitors. Our U.S.
stores are delivering faster checkouts,
a friendlier shopping experience and
cleaner presentations. Simply, they
are just operating better. We are on
the move internationally and today
have more stores in more markets.
People who have never shopped with
us previously are now loyal customers.
Sam’s continues to show the distinct
value of club membership.
We have so much to be proud of at
Wal-Mart when it comes to last year’s
 nancial results. Earnings per share
from continuing operations were up
6 percent to $3.35. We delivered
strong returns to our shareholders
through almost $7.3 billion in share
repurchases and dividends. Total
net sales increased 7.2 percent, as we
helped customers save money, so
they can live better.
Operating Segments Deliver
Strong Performance
Each operating segment stepped
up and contributed to our strong
performance. Walmart U.S. had an
extraordinary year by driving home
our price message and driving up
customer experience scores to record
levels. At Wal-Mart International,
currency  uctuations a ected our
reported sales, but overall results
were solid. Doors continue to open
for international growth, such as
with our strategic acquisition of
Distribución y Servicio – D&S – in Chile.
This also continues to be a great time
to be in the warehouse club segment.
Sam’s Club grew sales 5.6 percent
for the year, and is further strength-
ening the member experience.
Continued Focus on ROI
Our team is very focused on working
to improve return on investment (ROI).
Our capital e ciency process drives
expansion decisions. The Company
has stepped up investments in tech-
nology to maintain leadership in an
area that always has been a driver
of our success. These efforts will
contribute to Wal-Mart’s increased
e ciency through our use of capital,
technology and logistics.
The fact is, Wal-Mart’s performance
last year would be considered strong
at any time and for any retailer, and
certainly during one of the most di -
cult global economies in decades.
This tremendous success is a real
tribute to our culture and every one
of our 2.1 million associates around
the world. Retail was tested this past
year, and our associates made the
di erence for Wal-Mart shareholders.
To Our Shareholders, Associates and Customers:
“ Our Company is so well positioned for
today’s di cult economy and tomorrow’s
changing world. We have an exceptionally
strong management team, able to execute
our strategy, perform every single day,
and deliver results.”
Michael T. Duke