Fayetteville, Ark. - Walmart
assured shareholders this morning that a freshened assortment, tighter expense
controls and more aggressive pricing will help jumpstart stagnant sales.
Senior executives of the world's largest retailer outlined
the game plan here this morning at the at the University of Arkansas' Bud
Walton Arena, where some 16,000 investors and employees gathered for the
company's annual meeting.
"We will win on price leadership and we will win big,"
pledged president/CEO Mike Duke, who predicted that retail will soon enter an
era of "price transparency."
Walmart will also work to make its Web sites world class,
and will explore mobile commerce technologies to keep the company competitive
in all shopping channels, he said.
As per tradition the event blended business and
entertainment, with actor Jamie Foxx hosting festivities that included performances
by Mariah Carey, Mary J. Blige and Josh Groban, and an appearance by American
Idol judge Randy Jackson.
A Webcast of the meeting is available at http://walmartstores.com/shareholders/onlinearena/.