Principles of Business
March 7, 2011
Financial Aspects of Wal-Mart Corporation
Mike Duke is the president and chief executive officer of Wal-Mart Stores, Inc. (Wal-Mart). From 2005 to February 2009, Mike served as vice chairman of the company, with responsibility for Wal-Mart International. As CEO, Mike leads a strong management team that is focused on keeping Wal-Mart’s mission of “saving people money so they can live better” relevant to every customer, every day. Since joining Wal-Mart in 1995, Mike has led the logistics, distribution and administration divisions as well as Wal-Mart U.S. As vice chairman, Mike was actively involved in developing and executing corporate strategy. He focused on setting higher standards of excellence for the company’s resources and people — from the redesign of logistics and merchandise distribution systems, to the recruitment of talent, and development of strong teams. Under Mike’s leadership, the company’s international business became a fast-growing part of Wal-Mart’s overall operations. In leading Wal-Mart’s expansion into mature and emerging markets, Mike built an international management team that delivered strong operational results in a complex global environment.
Current Financial Performance
According to the 20110 Annual Report; for the full year, Wal-Mart reported earnings per share of $3.72. Net sales were more than $405 billion this year, with International net sales exceeding $100 billion for the first time in Wal-Mart’s history. Our free cash flow performance continues to be impressive, closing the year with $14.1 billion in free cash flow. We also posted a pre-tax return on investment (ROI) of 19.3 percent for the year, equal to last year’s ROI performance. Growth opportunities continue. We are more committed than ever to helping customers save money so they can live better in every category throughout the store. Price leadership...