Walmart Releases 2022 Annual Report and Proxy Statement

Rhea-AI Summary

Walmart Inc. (NYSE: WMT) released its 2022 Annual Report and Proxy Statement ahead of the virtual Annual Shareholders’ Meeting on June 1, 2022. The report underscores Walmart's financial strength, emphasizing investment in digital services and diversification of revenue streams, including a growing $2.1 billion advertising business. CEO Doug McMillon expressed gratitude for associates' efforts amid ongoing pandemic challenges and outlined a strategic focus on developing local businesses and enhancing customer support through new capabilities. Shareholder voting will be available online.

Positive

• 2022 Annual Report shows financial strength and ongoing success.
• Investment in digital services and revenue diversification highlighted.
• Advertising business grew to $2.1 billion globally.
• Strategic path includes support for local businesses and sustainability initiatives.

Negative

• None.

BENTONVILLE, Ark.--(BUSINESS WIRE)-- Walmart Inc. (NYSE: WMT) today issued its 2022 Annual Report and filed its Proxy Statement in preparation for the company’s Annual Shareholders’ Meeting on Wednesday June 1, 2022. Shareholders will be able to attend the meeting online. There will be no physical location for the meeting.

Annual Report Highlights

The 2022 Annual Report highlights Walmart’s financial strength and positioning for ongoing success through investing to serve customers in new, digital ways, growing new revenue streams, investing in associates, supporting communities and working to become a regenerative company, all while providing returns to shareholders.

In his annual letter to shareholders, associates and customers, Walmart President and Chief Executive Officer Doug McMillon shared his gratitude for the accomplishments of Walmart associates and partners, as well as his optimism, in light of the pandemic and economic related issues during the past two years:

“Around the world, we’re still working through the various pandemic related issues as well as the economic and employment environments in each country where we operate. Despite the challenges of the moment and those that lie ahead, the emotions I feel are those of gratitude and optimism. I’m grateful for our associates and grateful for the customers and members that trust us enough to shop with us so frequently. I’m grateful to our suppliers, our marketplace sellers, and those that partner with us to serve customers and members better and engage in our collective work to become a regenerative company. I’m optimistic about our future because of the momentum we’ve built and the desire and ability of our team to change, while embracing our timeless purpose and values”

McMillon also outlined the strategic path forward for the company and touched on how Walmart continues to find new ways to support customers in new and different ways:

“As more customers and members join our ecosystem, it gives us an opportunity to monetize the capabilities and assets we’ve developed to diversify our revenue and profit base. Sometimes that means new businesses like Walmart GoLocal, our delivery as a service platform, or Walmart Luminate, a suite of insight and analytic tools for suppliers and sellers. Other times it can be the expansion of existing businesses like advertising, where we’ve seen tremendous growth over the last few years. It’s now a $2.1 billion business for us globally. We’re attaching B2B businesses to our B2C businesses in a way that supports investments and profitability.”

“Our strategy is clear. It’s to build strong local businesses that share common flywheel characteristics, powered by Walmart with ideas, resources, talent and technology. Each market is positioned to deliver long-term, sustainable growth. Our teams in each market know their customers well, and they partner on common areas to drive progress even faster. We’re expanding the ecosystem that supports them as we grow capabilities in areas like advertising, payments and other financial services, and health care.”

2022 Annual Shareholders’ Meeting, Proxy Statement and Proposal Voting

The company’s 2022 Annual Shareholders’ Meeting will be held in a virtual meeting format only with no physical location. The live audio webcast of the meeting will begin on June 1, 2022, at 10:30 a.m. CDT.

Shareholders who held shares as of the close of business on the record date of April 8, 2022 will be able to vote their shares before the meeting online at www.proxyvote.com, by calling 1-800-690-6903, by mailing a completed proxy card or by mobile device by scanning the QR code on the proxy card or notice of internet availability. Shareholders may also vote while logged in and participating in the 2022 Annual Shareholders’ Meeting here.

This year’s proxy materials seek shareholders’ votes on 11 director nominees, two company proposals, and seven shareholder proposals. The public will also be able to listen to the Annual Shareholders’ Meeting, without the option to vote, through a link on the company’s website. The 2022 Proxy Statement can be read online.

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better — anytime and anywhere — in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220421006119/en/

Media Relations Contact

Jacquelyn Cook

800-331-0085



Investor Relations Contact

Dan Binder

479-258-7172

Source: Walmart Inc.

FAQ

What does Walmart's 2022 Annual Report highlight?

Walmart's 2022 Annual Report highlights financial strength, investments in digital services, and diversification of revenue streams.

When is Walmart's Annual Shareholders' Meeting in 2022?

Walmart's Annual Shareholders' Meeting will be held virtually on June 1, 2022.

How much has Walmart's advertising business grown?

Walmart's advertising business has grown to $2.1 billion globally.

What is Walmart's strategy for local businesses?

Walmart's strategy focuses on building strong local businesses supported by shared resources and technology to drive sustainable growth.

How can shareholders vote for Walmart's 2022 Meeting?

Shareholders can vote online, by phone, or by mail before the 2022 Annual Shareholders' Meeting.