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To our
shareholders,
associates and
customers:
I’m deeply honored to lead Walmart at such an exciting time.
Walmart has a rich history and is well-positioned for the future.
We have an authentic and important purpose. We’re grounded
with strong values and have millions of associates who share a
culture and belief in doing what is right for our customers, our
communities and each other. The future will bring a lot of
change as the rapid growth of digital commerce enables us
to serve customers in new and exciting ways. Our customers
continue to search for value, a broad assortment and a
shopping experience that saves them time and money. With
greater convergence of digital and physical retail, we’re invest-
ing in capabilities to provide customers even more choice
and convenience. When I think about all these capabilities,
I’m condent in Walmart’s continued growth and enthusiastic
about our future.
Positioning to serve our customers. Around the world,
we deliver value for customers in dierent ways. We operate
supercenters, Sam’s Clubs, e-commerce sites and many other
formats that enable us to serve our customers. As we develop the
combination of digital and physical interaction with customers,
we’ll remain well positioned to grow. We’re laser-focused on
delivering improved comparable store sales by sharpening our
merchandising eorts, price leadership and enhancing service.
We’re also intent on creating transformative growth by adding
capabilities in e-commerce and mobile commerce. When we
view our business through the eyes of our customers, we don’t
think about our stores, clubs or websites independently. Instead,
our goal is to have customers see these channels converge as
one unied relationship with us. We want to deliver a relevant,
personalized and seamless experience across all channels.
So, our approach to investments will continue to evolve
to support the singular goal of enhancing the customer
experience to further grow sales.
Change is nothing new for Walmart – it’s embedded in our DNA.
After all, our company founder, Sam Walton, was the premier
innovator in retail. He made Walmart better by questioning
everything, every day – frequently asking customers and our
store associates how we could do better. He was always in the
market looking for new ideas. For Sam, the customer was always
the boss, and the improvements he made to Walmart were
Walmart 2014 Annual Report 3
Doug McMillon
President and
Chief Executive Officer
Wal-Mart Stores, Inc.