Duke also recognized the solid full year results of Walmart International and Sam's Club.
“Walmart International delivered strong growth through both comp store sales and a record number of new units, including the acquisitions of Netto and Massmart,” said Duke. “The leadership teams are focused on improving profitability, and our 'Powered by Walmart' initiatives will strengthen productivity and reduce expenses in our markets.
“Sam's Club comp sales have been consistently strong throughout the year, and we expect this momentum to continue in fiscal year 2013,” Duke said. “Operational efficiencies contributed to expense leverage and improved member experience.
“Our company leveraged expenses for both the quarter and the full year,” said Duke. “In fact, Walmart has now leveraged operating expenses for two consecutive years. We have a relentless focus on the productivity loop to drive down costs and pass those savings on to customers. And as I look forward to our 50th anniversary this year, I see tremendous opportunities still ahead for our company and our shareholders.”
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