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