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HomeBusinessWalmart Releases 2023 Annual Report and Positive Guidance

Walmart Releases 2023 Annual Report and Positive Guidance

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In advance of the company’s annual shareholders’ meeting on May 31, 2023, Walmart Inc. (NYSE: (WMT)) today released its 2023 annual report and filed its proxy statement. The meeting will be accessible online for shareholders. The meeting won’t take place anywhere specific.
Highlights of the Annual Report

Walmart’s financial stability and position as a people-driven, tech-powered omnichannel retailer committed to assisting customers in making better financial and lifestyle decisions are highlighted in the 2023 Annual Report.

Doug McMillon, president and chief executive officer of Walmart, thanked shareholders for their belief in the firm and thanked employees for navigating a difficult year in his annual letter to shareholders and associates. In addition, McMillon underlined the company’s development over his 32 years, from a company that mostly sold general products in the United States to one that is today the top omnichannel retailer in the world:

We have outstanding individuals and a strong collection of resources and skills all across the world. We are in a position to offer customers, however they like to shop because of our combination of stores, Sam’s Clubs, and eCommerce capabilities. They can use their mobile device to order from a growing selection or visit us at a store or club. With us, clients have the option to save both money and time as they see fit.

WMT

“We create a real omnichannel experience when our people and our technology work together to assist consumers and members. No other retailer has Sam’s Clubs, over 10,500 stores, and a scaled eCommerce operation. Our great reputation for price is now almost on par with our reputation for convenience for the first time that I am aware of. This new development is exciting.

McMillon continued by mentioning the company’s investment strategy that was disclosed at an investor conference in April:

“[W]e expressed our emphasis on expansion as well as our desire for increased operating margin and ROI. With consistently low rates for customers and members, we can provide value while enhancing profitability and returns through productivity gains and a new business mix that includes a burgeoning market and advertising.

“We’re committed to assisting people in making wise financial decisions and improving their quality of life. When we say save money, everyone knows what we mean. But what does it mean to help people live better? As part of this strategy, we give people skills to manage their finances more efficiently, enhance their health, and strengthen their communities and the environment.
Annual Meeting of Shareholders in 2023, Proxy Form, and Proposal Voting

The company’s 2023 annual shareholders’ meeting will solely be held virtually, without taking place in person. The meeting’s live audio webcast will start on May 31, 2023, at 10:30 a.m. CDT.

About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, approximately 240 million customers and members visit more than 10,500 stores and numerous eCommerce websites in 20 countries. With fiscal year 2023 revenue of $611 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on Twitter at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.

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