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Marc Lore, President and CEO, Walmart eCommerce U.S., Remarks at 2019 Walmart Associate and Shareholders Meeting

The following are prepared remarks for Marc Lore, President and CEO, Walmart eCommerce U.S., at the 2019 Walmart Associate and Shareholders Meeting on June 7, 2019.

Hello Walmart!

Thanks again Linda and thanks to ALL of our fulfillment center associates who deliver for our customers every day.

I’m so excited to be here! It’s my third Shareholders – and, it gets bigger and better every year!

So I wanted to try something a little new this year... follow me!

I’m back!

You saw how we’re nailing the fundamentals and creating new experiences for our customers – no matter how, when, and where they want to shop.

Today, they have so many options to save money AND time. They can shop in our stores, order online and pick it up... OR they can get free 2-day delivery to their door.

But, we’re not stopping there. A few weeks ago we announced NextDay delivery. It allows customers to quickly receive up to two hundred thousand of our top items. The incredible thing is…it costs us less to deliver orders the next day... because items come from a single fulfillment center located near the customer, and orders arrive in one box.

NextDay delivery is pretty awesome, but we can deliver groceries even faster – same day. And, earlier today we announced something new – InHome Delivery. We’re taking delivery from the customer’s front door, directly into their fridge.

It’s an example of how we’re leveraging our unique assets... like our stores and all of YOU...to offer customers experiences only Walmart can. We will hear more about that from Doug in a bit.

Sofia: Marc! Oh, Marc, there you are!

Marc: Sofia?! Everyone... Sofia Vergara

Sofia: So anyway… I saw you bought those dresses for your daughters. They are going to love them.

Marc: They sure will!

Sofia: But that black t-shirt that you have on. You really need to add some color to your wardrobe. I brought you a few new shirts.

Marc: Ha, thanks Sofia… wait a minute, what are you doing here?! We were actually just talking about you!

Sofia: Oh, I know! I heard you – I was inside the website, too. It’s great, you know? I can add products easily and make sure they look perfect.

Marc: Your line is perfect – and customers are loving it! Together, we've sold enough jeans to be four times taller than the Eiffel Tower.

Sofia: Exactly, I'm wearing them right now. Walmart’s reach is helping more women look and feel great. The line is all about inspiring women to work what they’ve got.

What do you think of these ones?

Marc: You look amazing in those jeans.

Customers love the clothes – but they also love the price point and range of sizes.

Sofia: And the new summer collection features 32 pieces – including maxi dresses, tops, rompers, and of course – more denim!

Marc: It’s beautiful, Sofia. Thanks so much for stopping by… and thanks for the new shirts.

Sofia: You're welcome. You have to give a speech, let me take those.

Marc: Let's give Sofia a round of applause.

Wow, what a crazy day... first, I’m in the website, now I’m getting deliveries from Sofia Vergara! Unbelievable!

And you all are doing unbelievable things for our customers in stores every day. We've been doing it with grocery pickup and delivery. And, we did it with Checkout with Me and Store Maps last holiday. We’re doing so many great things, but we need to keep skating to where the puck is going.

Look at what’s happening at Store #4841 in Levittown, New York. It’s home to our Intelligent Retail Lab, where we’re testing ideas that could revolutionize retail as we know it.

Just imagine using computer vision and Artificial Intelligence to see your inventory levels in real time, both on the sales floor and in the back room. It will allow us to speed up section work, improve on-shelf availability, and have more facetime with customers.

And then there's Jetblack, which we announced last year. It brings conversational commerce to life. Customers absolutely love it!

Today more than two-thirds of our JetBlack members engage with us weekly, spending on average $1,500 dollars per month.

Then there’s Virtual Reality and Augmented Reality. We saw VR in action this year and actually trained dragons in our parking lots. And with AR, imagine allowing customers to see things in stores that aren’t physically there, like price comparisons and product reviews.

And, I’d love to use those same glasses to “Tony Stark” our associates – and give you superpowers to serve our customers in magical ways.

This is our future. It’s fast, it’s fun, and it’s saving customers money AND time. Each day is an opportunity to dream up new ways to make the impossible, possible... to transform the shopping experience.

With this team, just imagine the possibilities.

Thank you!