Wal-Mart 4Q16 Earnings Call Notes

Doug McMillon

Consumer expectations continue to change rapidly

“In conclusion, as I step back and look at the retail landscape, customer expectations continue to change rapidly. They will increasingly expect even more personalization and convenience in their shopping experience. We’re moving quickly to respond to the current opportunities as well as to innovate and transform the shopping experience for our customers in the future.”

The supercenter remains the best retail format in the world

“According to Bain, Black Friday weekend sales marked the first time the number of people shopping online surpassed people shopping in stores, and over half did so through mobile devices. And more than 70% of traffic to Walmart.com during Black Friday and Cyber Monday was driven by mobile. While e-commerce is growing rapidly customers continue to rely on brick and mortar formats. The Supercenter remains the best retail format in the world, and going forward, we will continue to leverage these unique assets, even more with initiatives like online grocery, in-store pickup and others. Rapid advances in technology mean we need to become more of a digital enterprise – and that’s what we’re doing.’