Walmart 2003 Annual Report Download - page 12

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Setting a
Global
Standard
Sales Rise with New Stores,
Formats and Acquisitions
10
Despite the economic and political
uncertainty around the world,
Wal-Mart International continued
to grow and deliver solid financial
returns for Shareholders in fiscal
2003. Our International sales rose
by 15.0 percent to a level of almost
$41 billion, while operating income
increased by 55.8 percent. (On a like-
to-like basis, the increase in operating
income would have been 33.7 percent
after adjusting for an accounting
change for goodwill.)
“Country by country, the world is
discovering the great value of shopping
at Wal-Mart,” says John B. Menzer,
Wal-Mart International Division’s
president and chief executive officer.
“Thanks to more than 300,000
Associates outside the United States,
we’re setting a global standard
for Every Day Low Prices, quality
merchandise and exceptional service.”
Building on a foundation of solid
operational and financial performance,
Wal-Mart International is pursuing
growth in three key areas: new stores,
new retail formats and targeted
acquisitions. In fiscal 2003 we opened,
relocated or expanded 115 outlets
in seven different countries. We
introduced a smaller SAM’S CLUB
format in Mexico and opened our
first Neighborhood Market in China.
We also announced that we will bring
the first SAM’S CLUB to Canada this
fall. Our acquisition of Supermercados
Amigo increases our ability to serve
our Customers in Puerto Rico, and
our investment in Seiyu gives us a
solid foothold in Japan, the world’s
second largest retail market.
In a year of steady improvement
in store operation and financial
performance, there were many
highlights. Here are just a few:
The Americas – Economic conditions
were challenging throughout Latin
America, but Wal-Mart de Mexico
continued its outstanding performance,
posting strong sales and earnings
growth, thanks to a consistent focus
on Customers and Every Day Low Prices.
In Canada, where 85 communities have
requested a Wal-Mart store for their
market, we won the No. 1 customer-
service ranking in a survey of CEOs.
Asia – Our stores in China are
attracting Customer counts that
are among the highest in the world,
and our stores in South Korea have
launched the Rollback program that
is one of our retail trademarks around
the world.
Europe – In the United Kingdom,
ASDA was selected “Britain’s Best
Translating Store Structure: (from left)
ASDA Store in the United Kingdom,
Wal-Mart Todo Dia in Brazil,
Superama in Mexico,
Wal-Mart Supercenter in China,
Wal-Mart Supercenter in Germany,
and a multi-story Wal-Mart Supercenter
in South Korea.