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BENTONVILLE, Ark. — Walmart issued its 2023 Annual Report and filed its Proxy Statement on Thursday 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.
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.
