Walmart CEO pushes plan to keep retailer growing

Expanding globally and marketing to the “next-generation customer” are Walmart’s long-term goals, its CEO told shareholders today, but the company also needs to fix slumping domestic sales. Walmart President and CEO Mike Duke outlined a five-point program at Walmart’s annual meeting to help the company sell more on the Internet at home and abroad while keeping its costs and prices low. “Our next-generation customer will include millions who are striving to join the emerging global middle class,” Duke says. “They’re connected to the world through smartphones and social media. They’re in charge of when they shop and how they shop, and they know who has the lowest prices.” Duke says the company has five priorities:
— Growth by adding customers, opening new stores and acquiring other retailers
— Keeping costs low and passing the savings to customers
— Building a global Internet business
— Developing talent, including a greater focus on women and minorities
— Expanding the company’s sustainability effort.