Wal-Mart CEO: Transformation is real and delivering results
CEO Lee Scott described Wal-Mart’s ongoing transformation as delivering results for the company and the customers and the communities Wal-Mart serves.
Calling the transformation plan “Wal-Mart Out in Front,” Scott pledged to continue implementing changes that have driven growth and efficiency at Wal-Mart this year.
“Wal-Mart is undergoing a transformation. And it’s real,” Scott said. “We are changing more rapidly and profoundly than we ever have. We’re building stronger relationships with the working families who are our associates and customers. And the changes we are making are delivering results for our company.”
Scott said sales per square foot at the new, urban Evergreen Park store, just outside of Chicago, are 25 percent above sales at other stores in the area. He also pointed out that at the new Plano, Texas, experimental Supercenter, gross profit per linear foot is 24 percent higher than the average store. In the coming months, Wal-Mart will build more experimental stores to help the company broaden its appeal to Hispanic customers, rural customers and Baby Boomers. Scott also revealed new figures that show Wal-Mart now has more than 176 million customer visits worldwide each week.
“Wal-Mart Out in Front,” is a nod to a famous piece of advice from Sam Walton, who said, “You can’t just keep doing what works one time. Everything around you is always changing. To succeed, stay out in front of that change.”
