Executive Summary

The FGRT team attended Walmart’s 2017 Investment Community Meeting, held near the company’s headquarters in Bentonville, Arkansas, this week. Selected takeaways from the meeting include:

• Walmart aims to move with speed,acting on a stronger foundation.
• Walmart seeks to win with both customers and shareholders.
• E-commerce revenue is expected to grow by 40% in fiscal year 2018.
• Sam’s Club has identified its typical customer and is working to improve its competitive position.
• Walmart International aims to offer disciplined growth by executing a strategy for winning in China and providing a differentiated value proposition elsewhere.
• Walmart US aims to run great stores, be great merchants and build trust with customers.
• Meeting attendees were invited to tour a couple of Walmart Superstores and see the new “tower of power” in-store pickup tower in action.