Wal-Mart CEO outlines priorities at annual investors meeting
Bentonville, Ark. In opening remarks at the company’s 16th annual investors meeting today, Wal-Mart Stores president and CEO Mike Duke said the chain will focus on executing three key priorities — continuing to have aggressive growth, leveraging global scale and expenses and improving the returns of each operating segment — to further enhance shareholder value.
“There is no retail competitor — here in the United States or anywhere in the world — that can deliver the kind of growth that Walmart can over the next several years,” Duke said.
Duke said he was committed to improving the chain’s expense structure by taking greater advantage of its scale and driving further productivity and efficiency throughout the system.
“Expenses will grow less than sales and Walmart’s entire management team is re-energized to improve in this important metric,” Duke said. “The productivity loop is back at Walmart.”
The CEO said that each operating segment has a long-term plan to improve return on investment, and that it plans to continue to produce significant free cash flow, which will drive its ROI performance and deliver greater shareholder value.
“Growth, leverage and returns throughout the company all lead to greater shareholder value,” he added.
Duke noted that the company’s strong operating performance demonstrates that its strategies are working. He also made clear his drive to succeed and confidence.
“I’m competitive by nature and I want to win. There is no doubt in my mind that Walmart will continue to win in retail around the world,” Duke said.
Home Depot selects Teradata as new IT partner
WASHINGTON, D.C. Teradata announced that Home Depot has selected the Teradata Active Enterprise Data Warehouse to support its complex and growing enterprise information requirements.
In moving to the Teradata solution, Home Depot will consolidate multiple decision support systems into one centralized Enterprise Data Warehouse, which will reduce the complexity of their current IT environment, improve efficiencies and improve business insight by enabling faster decision-making. The new intelligence platform will enable detailed analysis of enterprise data pertaining to sales, inventory, cost and merchandise management.
“Our IT improvements are dedicated to creating more time for our associates to focus on customer-facing activities, and the implementation of Teradata’s solution will benefit our entire organization,” said Matt Carey, EVP and CIO, Home Depot. “Teradata’s value proposition and leadership in data warehousing platforms, software and services were critical in our decision to select them as our partner.”
Kelly adds Tiana to Disney wedding line
Disney Consumer Products and couture designer Kirstie Kelly are launching a gown inspired by Princess Tiana, Disney’s newest princess from the animated musical film, The Princess and the Frog.
The Tiana gown will be added to the Kirstie Kelly for Disney’s Fairy Tale Weddings line as the signature piece of an all new collection of bridal gowns. The new collection also includes the Snow White Diamond Edition gown, all new “Maidens” for bridesmaids, “Blossoms” for flower girls and a new line of fine jewelry with renowned jeweler Mouawad, each inspired by a Disney Princess character.
“The Princess Tiana gown is a very special part of the Disney Princess collection,” said Kelly. “When I look at this gown I see a modern woman that is very comfortable with her own identity. The gown is designed for a bride with a modern sensibility and effortlessly exudes both romance and sultry flair.”