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Walmart 2013 Annual Report || 1
To our shareholders, associates and customers
Over the last few years, I’ve shared with you how we would
build the “Next Generation Walmart” and serve the “Next
Generation customer.” This came from a belief that the
major trends shaping our world are also driving signicant
change in the retail landscape – the emerging global middle
class, the faster adoption of mobile technology, rising energy
prices and many others. At Walmart today, we have never
had more clarity around what the world is going to look like,
and what it will take to win with the customer we care so
much about. We’ve developed and executed strategies that
are delivering results, which I’ll highlight in this message.
Just as important, however, are the key strategic areas where
we are especially focused and accelerating.
Financial results and key strategies
Last year, Walmart delivered a really good nancial performance.
Our earnings per share increased 10.6 percent to $5.02.
With the addition of $22 billion in net sales, we are now
a $466 billion company. Our operating income was up
4.7 percent to $27.8 billion. We also grew free cash flow
18.1 percent to $12.7 billion. All of this enabled our company
to return $13 billion to shareholders in dividends and share
repurchases. In fact, Walmart shareholders enjoyed the
best overall return in stock performance and dividends
for our company this year than in more than a decade.
This success was made possible by the contributions of our
2.2 million fantastic associates around the world and their
commitment to saving people money so they can live better.
When it comes to our operating segments, Walmart U.S. is as
strong as it has ever been. Last year, we opened our 4,000th
U.S. location and added more than $10 billion in net sales,
including $4.7 billion in comp sales growth. We had positive
comp performance and grew market share in a number of
our largest categories. Walmart International continues to
be the growth engine for our company, contributing nearly
30 percent of consolidated net sales, while adding 19 million
square feet of new retail space. Improving returns in Walmart
International remains a top priority. Sam’s Club continues to
drive sales, delivering more than $56 billion in net sales with
fuel, a 4.9 percent increase over last year. With membership
engagement scores at record levels, we’re continuing to focus
on driving value to our members.
Michael T. Duke
President and Chief Executive Ocer
Wal-Mart Stores, Inc.
Many of Walmart’s most innovative ideas originate from the
insights of associates across our global operations.