Walmart 2016 Annual Report Download - page 14

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Actively managing
the portfolio
We continue to review our
portfolio, a key strategic priority
aimed at sharpening our focus on
our core food retail business, in both
stores and online, and driving
increased profitability. As a result,
we sold properties in Canada,
exited bank operations in Mexico,
and closed underperforming stores
in Latin America, while enhancing
our portfolio by taking full
ownership of Yihaodian in China.
These actions position us for
improved profitable growth.
Lowering our costs
We’re reducing our cost of goods sold and overhead
expenses to fuel growth in our core business. We started
a cost analytics program in Canada and the U.K. to
provide merchants with tools and cost visibility to lead
fact-based negotiations with suppliers. We’re continuing
to see benefits from productivity initiatives in China as
we build a platform for sustainable growth.
Delivering balanced growth
We’re focused on delivering value to customers across
income levels in each of our markets. We’ve grown
comp sales in a majority of our markets for seven
consecutive quarters, fueled by investments in price,
private brands and our fresh offering. We continued
to open stores across our markets and expanded our
reach in Online Grocery to China and Canada,
leveraging our experience from the U.K.
Mexico and Canada drove overall sales growth
for the International segment in fiscal 2016. In
China, despite ongoing economic challenges, we
continued to gain share in the Hypermarket channel
and are building a platform for sustainable growth.
Our business in Brazil has been impacted by an
increasingly challenging economic environment,
while competitive intensity continued to increase
in the U.K. All other markets had solid performance.
Disciplined growth
with a focused portfolio
International
800,000
INTERNATIONAL ASSOCIATES
WALMART INTERNATIONAL