"Next-Gen Walmart" unveiled by CEO Mike Duke

Walmart to further expand globally

With the majority of American stores keen to promote a greener image, it was no surprise when Walmart unveiled its green intentions last year. Now Walmart has gone a step further, with President and CEO Mike Duke announcing key strategies for building Next-Gen Walmart - a store that he claims will enhance Walmart's local store status abroad.

Walmart spent $4.1 billion on international expansion in 2009 and already has a large overseas presence, with over 1,000 stores in Mexico, and over 300 stores in Brazil, Japan and Britain.  Yet Duke envisions  next-gen Walmart to have a global reach that stretches even further, incorporating talent abroad and better utilizing Walmart's global supply chain.

"Just over the next five years, we'll create 500,000 jobs around the world. We need to recruit the best talent and identify the best talent in our ranks. Then we need to develop leaders and help them become global citizens."

Duke also explained that Next-Gen Walmart will try to understand the business challenges that retailers will face and solve them accordingly. Amongst the items highlighted were the global challenges that retail will face over the next 20 years, including the impact of technology on shopping habits and, in particular, on pricing. "Retail will soon enter an era of price transparency. And what kind of retailer wins in a time of price transparency? You got it, the price leader. We need to really churn the productivity loop and deliver on our Every Day Low Price business model everywhere. Walmart must widen the gap here. We will win on price leadership, and we will win big."

Finally, Duke drew reference to Walmart's size, and expressed the key in the Next-Gen Walmart strategy, outlining Walmart's culture as a competitive advantage and one that needs to stay strong globally.

"Our culture is who we are. It isn't just words written on a wall at the Home Office or stapled to the bulletin board in the back room of a store. It makes us special. It sets us apart from the competition. And it appeals to people everywhere. So wherever we go and whatever changes we may make, we must keep our culture strong," said Duke. "I truly believe the retailer that respects individuals, that puts customers first, that strives for excellence, that is trusted will win the future."

"Our results demonstrate the underlying strength of our business and our strategies of growth, leverage and returns. But as proud as we are of our recent performance, future success is never guaranteed. Walmart is committed to being a truly global company and building the Next-Generation Walmart."

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