Walmart Releases 2023 Annual Report and Proxy Statement

Rhea-AI Summary

Walmart Inc. (NYSE: WMT) has released its 2023 Annual Report and Proxy Statement ahead of the Annual Shareholders' Meeting scheduled for May 31, 2023. The report emphasizes Walmart's robust financial position, showcasing its evolution into a leading omnichannel retailer. President and CEO Doug McMillon expressed gratitude to shareholders and staff, highlighting the company's growth and omnichannel capabilities. Walmart reported fiscal year 2023 revenue of $611 billion, serving approximately 240 million customers weekly across over 10,500 stores worldwide. Shareholders can vote on various proposals during the meeting, which will be held virtually.

Positive

• Fiscal year 2023 revenue stands at $611 billion.
• Approximately 240 million customers visit Walmart weekly across over 10,500 stores.
• Walmart is positioned as a leading omnichannel retailer.
• Continued investment in technological capabilities to enhance customer experience.

Negative

• None.

BENTONVILLE, Ark.--(BUSINESS WIRE)-- Walmart Inc. (NYSE: WMT) today issued its 2023 Annual Report and filed its Proxy Statement in preparation for the company’s Annual Shareholders’ Meeting on Wednesday, May 31, 2023. Shareholders will be able to attend the meeting online. There will be no physical location for the meeting.

Annual Report Highlights

The 2023 Annual Report highlights Walmart’s financial strength and positioning as a people-led, tech-powered omnichannel retailer dedicated to helping people save money and live better.

In his annual letter to shareholders and associates, Walmart President and Chief Executive Officer Doug McMillon expressed his gratitude and appreciation to shareholders for their confidence in the company and to associates who navigated a challenging year. McMillon also noted the company’s evolution during his 32 years, going from a business that sold mostly general merchandise in the U.S., to now being the leading omnichannel retailer in the world:

“Around the world, we have great people and a powerful set of assets and capabilities. With our combination of stores, Sam’s Clubs, and eCommerce capabilities, we’re positioned to serve people however they want to shop. They can come see us in a store or club or use their mobile device to order from an increasingly broad assortment. They can save money and time with us however they choose to in that moment.

“When we bring our people and our tech together to serve customers and members, we create a true omnichannel experience. There isn’t another retailer with over 10,500 stores, Sam’s Clubs, and a scaled eCommerce business. For the first time I know of, our reputation for convenience has risen to nearly the same level as our strong reputation for price. This is an exciting development.”

McMillon went on to note the company’s investment approach shared during an April investor conference:

“[W]e shared our focus on growth as well as improved operating margin and return on investment. We can deliver value with everyday low prices for customers and members and improve our profitability and returns through productivity improvements and a new mix of businesses, including a growing marketplace and advertising.

“We’re dedicated to helping people save money and live better. Everyone understands what we mean when we say save money, but what does it mean to help people live better? This part of our strategy includes saving people time, helping them improve their health, providing tools to save on financial transactions, and strengthening their communities, and the planet.”

2023 Annual Shareholders’ Meeting, Proxy Statement and Proposal Voting

The company’s 2023 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 May 31, 2023, at 10:30 a.m. CDT.

Shareholders who held shares as of the close of business on the record date of April 6, 2023, will be able to vote their shares before the meeting in the follow ways:

• Online at www.proxyvote.com;
• Calling 1-800-690-6903;
• Mailing a completed proxy card or voting instruction form; or
• On their mobile device by scanning the QR code on the proxy card, notice of internet availability, or voting instruction form.

Shareholders may also vote while logged in and participating in the 2023 Annual Shareholders’ Meeting at https://www.virtualshareholdermeeting.com/WMT2023.

This year’s proxy materials seek shareholders’ votes on 11 director nominees, three company proposals, and eight 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 2023 Proxy Statement can be read online.

About Walmart

Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 240 million customers and members visit more than 10,500 stores and numerous eCommerce websites in 20 countries. With fiscal year 2023 revenue of $611 billion, Walmart employs approximately 2.1 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, on Twitter at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005960/en/

Media Relations Contact

Marci Burks

800-331-0085

Investor Relations Contact

Steph Wissink

IR@walmart.com

Source: Walmart Inc.

FAQ

What does Walmart's 2023 Annual Report highlight?

The report emphasizes Walmart's financial strength and its position as a leading omnichannel retailer.

When is Walmart's 2023 Annual Shareholders' Meeting?

The meeting is scheduled for May 31, 2023.

How much revenue did Walmart report for fiscal year 2023?

Walmart reported fiscal year 2023 revenue of $611 billion.

How can shareholders vote at Walmart's Annual Shareholders' Meeting?

Shareholders can vote online, by phone, by mail, or during the virtual meeting.