Walmart 2003 Annual Report Download - page 10

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Can Wal-Mart maintain double-digit
growth when we’ve already reached
nearly $245 billion in sales? If we
focus on one store at a time, it’s
possible to achieve this goal.
“Our growth comes from thinking like
a small company, not like a large one,”
says Tom Coughlin, president and
chief executive officer of Wal-Mart
Stores Division and SAM’S CLUB USA.
“We will take care of the little things
for our Customers, the way a small
company would.”
The groundwork for this philosophy
has already been
laid in successful
programs like
“Store of the
Community,”
which tailors
the retail
assortment,
merchandising
and
philanthropic
efforts of each
store to the
needs of the community. The “spirit
of small” is also alive in Sam Walton’s
“Store Within a Store” program, which
encourages each department manager
to act like an independent merchant.
“We can’t cookie-cutter prototype
merchandise programs into all
the stores,” says Coughlin. “It just
doesn’t work. Even two stores within
the same community can have very
different needs.”
Better Merchandise, New Products
Another way Wal-Mart can grow is by
improving merchandise and adding
new product lines. Apparel provides
a great example. From ASDA,
Wal-Mart’s operation in the U.K.,
we’ve extended the George™ brand of
clothing into the U.S. market. Levi’s®
apparel also will be sold at Wal-Mart
this year, but that doesn’t mean
Wal-Mart is abandoning its opening
price points or its core Customers.
Wal-Mart’s product-development
experts are designing fresh colors for
housewares and domestics that will
match up with the colors in the
paint department. Customers will
also see Egyptian-cotton towels and
bedding at the same prices we had
last year for our
regular towels
and bedding.
“Our food
program is
better-focused
now and
continues
to be driven
by national
brands,” says
Coughlin. “One
area that is especially ripe for new
sales opportunities is heat-and-serve
meals, where we’ve already made
great strides.”
Keeping Pace with Technology
“We will also continue to feature
new technology in our electronics
department,” Coughlin says. “With
DVD players, we entered the market
at an early point and did very well.
Now we’re doing the same with flat-
screen TVs and new advances in
wireless technology.” “This represents
a change,” says Don Harris, executive
vice president of general merchandise.
“We once thought we wouldn’t sell
Thinking Small
That’s How a Successful
Retailer Can Continue
to Grow
8