Duke: Walmart "Strong and Getting Stronger"

Mike DukeMike Duke

ROGERS, Ark.-Walmart has "momentum in our business that's producing top-line and bottom-line results," Mike Duke, the retailer's president and CEO, told financial analysts at Walmart's 19th Annual Meeting for the Investment Community today.

"Walmart is strong and getting stronger," Duke said to the analysts. "We're delivering on the productivity loop and being even more disciplined about operating expenses and capital spending. We're making investments that are creating a better business. I believe that the combination of momentum, investment and discipline will continue to deliver growth, leverage and returns for our shareholders."

Highlighting the key points in Walmart's "momentum," Duke said Walmart's U.S. business is making progress in a number of areas that are driving same-store sales growth. He added that Walmart International's growth is "strong, and we are winning customers and gaining share in almost every country in which we operate." Sam's Club's growth has also been strong, he said, and is "testing new ways to engage existing and prospective members and to increase membership renewals and revenue."

In terms of expenses, Duke told the analysts that Walmart has leveraged expenses for 11 quarters while achieving savings, lower prices and more sales across the business. "We are driving efficiencies in new stores and remodels by reducing construction costs while keeping our square-footage growth where we want it to be," he said.

Duke added that Walmart continues to invest in a disciplined way to build its business and position the company for further success. He cited Walmart's global e-commerce sector, in particular its stake in the Chinese web retailer Yihaodian. Regarding e-commerce, "I believe we ware playing to win in a very real way now, driving innovation, working together across the entire business and investing in our vision," Duke said.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.