Is Wal-Mart `Supercentered' Out?

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June 6 (Bloomberg) -- Sam Walton founded Wal-Mart in 1962, and the company went public eight years later. It’s now the biggest retailer in the world, with revenue last year of $476.3 billion. Julie Hyman reports on the annual shareholder meeting on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Century, i use them now.

Switching gears, walmart is holding its investor and shareholder meetings today.

Julie hyman, who was at the meeting is joining us now.

It seemed like a big focus was the smaller stores versus the big box retailers.

That seems to be the shifting focus of the company.

That is because if you look at the probable sales at walmart versus its competitors, it has been lagging.

It had seen declining same-store sales, so it is working to get that growth back.

The neighborhood market sales were up five percent, and it lands to expand that chain aggressively.

They will open around 300 more stores this year but he sees a pathway to as many as 2000 new stores.

Walmart is being aggressive with this, and the ceo is really painting a picture of a transformed walmart.

Of course you can still get a supercenter, but there will be other formats.

Traditionally they put the stuff in the stores and wait for the customers to come, and now that it is driven by what the customer is looking for, and price, and convenience, they will get that to the smaller formats.

Are there any concerns that perhaps walmart is too big to change so quickly?

That is something that they talked about as well.

Mcmillan said that he alluded to a comment an analyst had made them aware they asked if all you could do was manage, not lead, not change.

He has him thinking about how do you change walmart?

Some of the other analysts were talking about the urgency that seems to be present, that they're expanding so quickly.

They're expanding these smaller format stores so quickly that they are almost at their limit to find new talent to staff the stores.

They have been very inquisitive in their e-commerce business to build that out.

They are trying to execute this, but it is pushing up against the limits a little bit.

We have seen shareholders push for a shakeup of the board to have people come out from outside.

It does not seem like that will work.

It is not realistic because the walton family has such a dominant control over walmart.

The vast majority of the voting interest in the company.

It will be interesting to see how many of the shareholder votes some of the proposals today get.

If you look at some ofthe chairman

This text has been automatically generated. It may not be 100% accurate.


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