Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature
BelGioioso - Burrata & Stracciatella
Walmart President and CEO Doug McMillon Highlights New Strategic Initiatives

Walmart President and CEO Doug McMillon Highlights New Strategic Initiatives


BENTONVILLE, AR
Tuesday, October 10th, 2017

Walmart President and CEO Doug McMillon has announced some big strategic investment plans for fiscal 2018 and 2019. With plans to invest $11 billion in capital expenditures, raise U.S. eCommerce sales by 40 percent, and add 1,000 online grocery locations, Walmart has laid out an ambitious set of initiatives priming the company for robust growth.

Doug McMillon, President & CEO, Walmart“We have good momentum in the business, we’re executing our strategy and moving with speed to win with the customer, who is more connected than ever and embracing tools that will save them both time and money,” McMillon said in a statement released prior to the company’s investor meeting. “We’re combining the accessibility of our stores with eCommerce to provide new and exciting ways for customers to shop. I’m proud of the team we have in place, the work we have underway and how we are positioned for success in the future.”

Walmart storefront

In its pre-meeting news release, Walmart highlighted several new strategic plans to implement going forward, including its U.S. division’s goal to continue to prioritize store remodels and digital experiences over new stores. Investment in digital experiences will likely include enhanced supply chain capabilities, more fulfillment capabilities, and an $11 billion capital expenditure budget for fiscal years 2018 and 2019.

Other highlights from the company’s release include:

  • Expectancy to grow consolidated net sales at or above 3 percent
  • Anticipation of sales growth at Walmart U.S. eCommerce to be about 40 percent
  • Expectancy to add 1,000 online grocery locations in Walmart U.S.
  • Expectancy for effective tax rate to be approximately 32.5 percent
  • Global unit growth of approximately 280 for each of the fiscal years 2018 and 2019
  • Walmart U.S. expects fewer than 15 new Supercenters and 10 Neighborhood Markets in fiscal year 2019
  • Walmart International expects approximately 255 new stores with a focus in Mexico and China

Brett Biggs, Chief Financial Officer, WalmartAt the meeting, Walmart CFO Brett Biggs discussed financial projections. In a statement, Biggs commented, “We feel good about where we are as a company. Our plans are designed to win with both customers and shareholders as we operate within our financial framework. Our financial position is strong, which allows us to invest in the business while returning significant cash to shareholders.”

Will an ambitious slate of growth initiatives and redoubled eCommerce efforts propel Walmart to the top of the pile as retailers vie for consumers’ business? Deli Market News will keep you in the know.

Walmart
Topics:


Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperatureBelGioioso - Burrata & Stracciatella

Have a new product, press release or story idea?

Let us know

In This Story


We’re proud to serve customers in more than 25 countries worldwide and are committed to helping people save money so they can live a better life.

American Butter Institute Urges FDA to Address Mislabeled “Butter” Products

The company urges the USDA to take prompt enforcement action against seven “butter” substitutes that allegedly violate the agency’s food labeling requirements.
View Press Release

Harvest A Great Time This Fall With These Hampton Farms Recipes On Your Table

The company partners with and supports local farms to seed and harvest all its peanuts.
View Press Release

Beetology Introduces New Beverages

The company launches cold-pressed, simple, nutrition-packed wellness juices made from nature's superfood—beets.
View Press Release

The Spice Lab is Now USDA NOP Organic Certified

The USDA Organic seal assures consumers that products are 95% or more certified organic.
View Press Release

Valio Unveils On-Trend Food Innovations and Ingredients Solutions at SIAL Paris

The company plans to showcase its latest food innovations and tailor-made ingredients solutions at the upcoming show.
View Press Release

Charlotte-Based Hissho Sushi Makes N.C. Mid-Market Fast 40 List

This year marks 20 years since Hissho Sushi was founded in Charlotte, NC.
View Press Release

Anheuser-Busch Inbev & DS Smith Plastics Named 2018 Excellence in Reusable Packaging Award Winners

RPA announces two winners in the 2018 Excellence in Reusable Packaging award program.
View Press Release

It's Pumpkin Spice Season!

Litehouse debuts a fresh look for its line of deliciously indulgent caramel dips and a limited-edition flavor: Pumpkin Spice Caramel.
View Press Release

Time to Step Up Your Fall Menu Plan; Pereg Natural Foods Gets You Started

Suffering from pumpkin spice fatigue? Here are 14 savory reasons why you still need pumpkin spice in your life.
View Press Release

New Snack Bars Take the Tahini Craze to Healthy Delicious Heights

Absolutely Gluten Free introduces TahiniBAR, the energy bar made from sesame seeds, in three exciting flavors.
View Press Release