Walmart To Accelerate Investments In Key Areas To Support Faster Sales Growth

(RTTNews) - Walmart Inc. (WMT) today issued its 2021 Annual Report and filed its Proxy Statement in preparation for the company's upcoming virtual Annual Shareholders' Meeting on Wednesday, June 2, 2021.

Walmart said it has made gains in recent years that it will protect, including the value for customers it offers and the lead it has built in pickup services.

The company is broadening the scope of products and services it offers to increase relevance in more customers' lives, while layering in a more robust digital experience to improve engagement. And now it will accelerate investments in key areas to support faster sales growth and keep the current asset base fresh.

The retailer is reportedly removing 300 of automated pick-up towers inside its stores and "hibernating" another 1,300 because customers grew accustomed to curbside pick-up during the pandemic — and prefer it.

Walmart President and Chief Executive Officer Doug McMillon outlined the strategic path forward for the company and touched on the ways Walmart will continue to invest in a more diverse and inclusive workforce.