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Wal-Mart shareholders meeting emphasizes public image, continued growth.

Publication: Retail Merchandiser
Publication Date: 01-JUL-04 		Format: Online - approximately 1259 words
Delivery: Immediate Online Access

Article Excerpt
Most of the general and business press coverage of Wal-Mart's annual shareholders meeting in Fayetteville, AR, last month focused on the retailer's attempts to change its employment practices to counter negative publicity it has received throughout the country over compensation, overtime, diversity and other store-level issues.

Despite those issues, though, the meeting was exceedingly upbeat, with more of the dramatic entertainment flourishes for which Wal-Mart's annual shareholder meeting-cum-pep rally has become famous.

The five key topics that were hammered home during the four-hour event were: hostile media coverage; the importance of Wal-Mart's employees; attaining earnings growth that outpaces sales increases; the retailer's still vast international opportunity for growth; and the improved financial performance of the Sam's Club division.

Total company revenues grew by 11.6% last fiscal year, and net income increased by an even more robust 13.3%.

"One of the most often asked questions is, 'How do you grow a $256 billion company?'" said Tom Schoewe, Wal-Mart's evp and cfo, during his financial address to the 18,000 shareholders, employees and stock analysts at the Bud Walton Arena on the campus of the University of Arkansas. "Three things. Build...

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