Walmart CEO: Increasing Sales At Existing Stores Is 'First Priority'

(Jessica Wohl) Wal-Mart Stores Inc (WMT.N) is making progress bringing items and shoppers back to its U.S. stores, and turning around U.S. sales remains its top priority, President and Chief Executive Mike Duke said on Tuesday.

The Walmart U.S. discount chain's food department has improved and its general merchandise areas are well on the way to having the right assortment, Duke said at a Barclays conference in New York that was also broadcast over the Internet.

Duke also said that there is a "tremendous long-term opportunity" in sub-Saharan Africa. Wal-Mart's plan to buy 51 percent of South Africa's Massmart Holdings Ltd (MSMJ.J) has been hung up by delays. The government approval process should be completed over the next few weeks, allowing Wal-Mart to move ahead with the deal, Duke said.

Wal-Mart is bringing back thousands of items, advertising its low price guarantee and taking other steps to try to win back shoppers who balked at an earlier plan that cut goods from stores and emphasized promotional prices.

Duke again said that achieving an increase in U.S. same-store sales -- a key gauge of retail health that measures sales at stores open at least a year -- is his "first priority."

Walmart U.S., the largest part of the world's biggest retailer, has reported seven consecutive quarterly declines. Duke declined to say when those same-store sales should turn around, but he did say that he is seeing "traction."

Wal-Mart's biggest growth opportunity remains the United States, where it is opening more supercenters and other types of stores, followed by the potential to expand in China, he said.

(Reporting by Jessica Wohl)

Copyright 2011 Thomson Reuters. Click for Restrictions.

Comments

[Dadzilla]

10:41 AM on 04/29/2011

As a sometimes customer of the store I've got to say they are not as cheap as they portray themselves. This is the company that put 4 pounds of coffee in a 5 pound can. Any deal from these jokers ought to be taken with healthy dose of skepticism. Beyond that this is the company that practically instituted the outsourcing of manufacturing by itself. They may have not invented it, put they put the shine on the apple that is crippling America.

[sporttrac]

08:12 AM on 04/29/2011

Bring the jobs home. I believe companies should all start providing organic and green products. Walmart could bring jobs home and invest in green and organic. I am support them in those investments.

[dtallwalk]

10:40 PM on 04/28/2011

Sales are down becuse low income folks have to choose between GAS and stuff they can live with out looks like gas is in the lead.
I wounder if gas prices go down will their sales go up ?

[Arts4u]

07:13 PM on 04/28/2011

Here you go... this sums it all up for the Walmart shoppers who seem determined to turn shopping at Walmart some constitutional right.

Bottom line... you shop there, you contribute to the continued decline of the US. Bottom line - US companies, as well as the US are now dangerously undermined by China. If they cannot make the right decisions regarding how to handle this, do it yourself. Don't buy ANYTHING unless it is made in the US.

Please get it, finally.

http://www.huffingtonpost.com/2011/04/27/china-us-american-companies-corporations_n_854294.html

[SaveTheMarshMouse]

02:48 PM on 04/28/2011

try shopping at alice.com - free shipping and good prices on your household items...
the boxes are cool too -

[iluvsam]

08:55 AM on 04/28/2011

I can't stand the place. Every store I've been in is filthy and smells. Nor can I stand its politics. Corporate is sexist, racist, and anti-American (despite its bogus claims to the contrary). I've toured a few Chinese factories where some of the products sold at WM are made, and the conditions are atrocious. They look like industrial America circa 1901. Most of the workers are very young girls who work and live in disgusting conditions. If Americans really knew where those "low prices" are coming from, they would never step foot in a WM again. But, Americans don't seem to get that their desire for such "low prices" comes at a high price...less jobs here, more jobs in the Asian sweatshops....ugh...when will we learn to stop shooting ourselves in the foot?

[Arts4u]

06:04 PM on 04/28/2011

If I ever had shopped at Walmart I would have stopped once that poor security guard was killed by a stampeding mob on Black Friday. To make the situation even worse, Walmart fought against the minor fine (something like $3,000) which was brought against them for the incident to the tune of several million $. It all speaks volumes of their values.

[satin dragon]

08:44 AM on 04/28/2011

I am disgusted, I see so many comments on treat your employee's better Walmart! truth is if you really cared about Walmart employee's you wouldnt be commenting on putting thousands unemployed? you say Mom and Pop is the way to go?.. how many family's starve and become homeless while waiting for mom and pop business's to establish? will it be you??? , and until then are you going to offer me a place to live and feed me> doubt it!
I worked in production my whole llife..and was middle class!! but, those jobs are gone to China. I was unemployed, became a 99er, no matter how hard I looked for a job.. nothing!! I lived in my car and went hungry for 2 months.. where was all your concern for my employment then? I was offered minimum wage at Safeway, Kings, Sears, two well known Bank teller jobs and Target... but guess what Walmart offered me 9.50 per hour..and I took it! My customer service is top notch and I wasnt picked up at the dump as one person suggested... you all ought to be ashamed of yourselves?.. as if this situation in this country isnt bad enough? Do I like working for Walmart? not exactly! but I am no longer starving and have a home..when you all turned a blind eye! and now you want to put me back there?

[satin dragon]

09:08 AM on 04/28/2011

Maybe you all ought to consider the marketing stratagy of other companys and their propaganda and hype, because they want a bigger slice of what Walmart has?.. thats all this is..did you ever asked who backed all this Walmart hatred? maybe, just maybe? its those who would like to make more money for themselves and their stockholders?.hmmm something to think about??? isnt it?... and like lambs to slaughter you all fall for it, I'm not saying Walmart is perfect.. by no means.. but I can tell you when all other large company's offered me employment?.. wasnt even near what Walmart offered me..had I taken the jobs you prefered I did? I would still be hungry and living in my car! As far as health insurance?.. I have it.. payed vacations? I have it.. 10% employee discount on purchases? gee! I have that too.. something none of the other company's even offered?? imagine that?..considering they wanted to pay me minimum wage?..

[satin dragon]

09:25 AM on 04/28/2011

And if you all truley believe you arent purchasing crap made in China by other stores such as the well known Grocery store chains, Sears and Target? think again and read your labels.. you are only being charged MORE for the same crap Walmart sells!....but you stand on your principals..and dont shop at Walmart!
If I have to buy cheap Chinese made crap?.. well I for one will be d@mned if I will pay more for it?.. but I would never be so bold as to ask any of you to step off your high horses..so shop at Target!

[1dabut1]

02:01 PM on 04/28/2011

do you live in a dream world, you don't think people can't read between the lines. walmart had or still has plans to put a walmart 17 miles apart, as to put eveybody else out of business, then they will close every other store, and with big company subsidies, the tax payers will foot the bill. Then every walmart that employs 200 or more people, they make s--t for money, no bennies, and the tax payers hand over somewhere around 400,000.00 in tax rite offs.
walmart does suck, the company store, in the making

[vippy]

07:21 PM on 04/28/2011

and guess who has stock in Walmart - your fellow Americans.

[satin dragon]

08:43 AM on 04/29/2011

hmm well my store is on the reservation, sovereign land, so it cost american taxpayers nothing! and they pay lease to the tribe of 39 thousand dollars a month,, since walmart came the tribe has managed a decent water purification system, a native hospital, a assisted living facility, they donate huge amounts of food, clothing and toys at christmas, easter, and thanksgiving to the tribal charity's? *gasp* Walmart???? no way! right?..
and as far as bennies? I have health insurance, paid vacation, stock, profit sharing, and a 401K? sooo what other bennies do you think I'm deserving of?..see what I mean? lambs to slaughter?.. you read it once about Walmart and you fall for it?.. I dont care to work there.. but? its better than standing on all the principals and high horses you all sit on.. because to you? I could starve to death and die in the street.along with countless other Walmart employees and their family's... and as long as you all have your principals and patriotism?.. it wouldnt matter to you at all..fact is your principals and patriotism has come faaaar to late..

[farmilyman]

05:11 AM on 04/28/2011

I remember when Sam Walton was alive, they were proud of the fact that almost everythng they sold was made in the USA. After Sam died, they sold their soul to China because they got greedy.

[Matt Williams22]

10:33 PM on 04/28/2011

Well said....and the truth. Sam Walton's heirs sold out America. They forgot where their first billions came from. Now the greedy pigs just want more. How much money does one need?

[1oldhippie]

08:11 PM on 04/27/2011

True story:
We put well over a hundred dollars worth of "stuff" on the checkout counter.and the cashier was scanning it. When she got to my case of beer, I said, "hey you guys price match and that beer is two bucks cheaper across the street". She took it off the counter, pushed it under the register and said, "go buy it there then!"
I DID-but I'm sure Sam Walton was rolling in his grave.
Folks like that (and 59 cent bananas) could be why Walmart is losing revenue.

[JWerner]

10:10 PM on 04/27/2011

Hahaha. . .that's hilarious. Disloyalty on the part of the employee, who woulda thunk?

[vippy]

07:23 PM on 04/28/2011

I don't believe this.  No employee would have acted that way knowing they will lose their job over this!
Employees have to take a lot of crap from customers and if you don't kiss their behinds, some get very nasty but then again, you can spot "class" anywhere!

[billhodges]

07:46 PM on 04/27/2011

Some times being the biggest is not the best. The bigger you are the harder you can fall.

[cdecisneros]

07:20 PM on 04/27/2011

Schadenfreude

[vippy]

07:26 PM on 04/28/2011

Don't believe everything you hear or read.  Look under the WalMart counters, there is no place to put pack of beer!  Schadenfreude is misapplied here - maybe it should be called wishful thinking!

[Keyop]

04:54 PM on 04/27/2011

Wal mart is just a pick up center for house hoarders.

[marinatha]

04:42 PM on 04/27/2011

I have said before that what befalls us at the bottom will eventually befall them at the top.With 7 quarters not being great do you think they will get the connection? And can anyone making 7 dollors an hour afford to shop for food at walmart.I mean with out charging it on thier credit cards.They so not give me a bang for my buck. You see Im a hardy eater and I do not mean junk foods.So for me I do not buy food at Wally World.Sorry.

[The Right is Wrong]

03:16 PM on 04/27/2011

I will still never set foot in a Wal-MArt store.

I'll take Target over Wal-Mart any day!

[DFD CPA]

04:45 PM on 04/27/2011

That's good. There are plenty of alternatives these days. Target, Meijer...even Sears/Kmart.

[JWerner]

10:14 PM on 04/27/2011

Not to mention Costco, which is basically a price club. I think regular membership is like 35 bucks a year. If you shop there regularly, you can EASILY make that back in savings, since they usually have a good selection of Kirkland products (if you're looking to buy low-cost discount brands), along with other products that are nicely priced. They have some tasty 'processed' food there, too, if you're looking to buy such things.

[supergenius02]

09:09 PM on 04/27/2011

I shop at both but prefer Target as well because they have cleaner stores, better customer service and nicer clientele. People have to remember that whether you like Walmart or not, they employ over 2 million workers. Walmart truly is too big to fail. If they go under, the unemployment rate will skyrocket out of control.

[scarletxoxoxo]

03:06 PM on 04/27/2011

I never shop at Walmart. Everything there is tacky and trashy.

[curtisraymond]

04:18 PM on 04/27/2011

Not to mention "made in China"

[scarletxoxoxo]

10:34 PM on 04/27/2011

yep

[vippy]

07:31 PM on 04/28/2011

And .where do you buy your USA MADE products?  I have not been able to find any.  I have to go clear to Germany to find German Made Products but we are out of luck here, from cars to appliances, to furniture and everything else, does not matter where you buy, it is foreign made. 

[scarletxoxoxo]

07:54 PM on 04/28/2011

I don't think Walmart products would be any better if they were produced in the U.S., and I still would not buy them.