UPDATE: 10:58 a.m.

Jason Derulo closes the Walmart’s annual meeting.

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UPDATE: 10:55 a.m.

Doug McMillon, president and CEO of Walmart Inc., said the company’s $500.3 billion in revenue last year represents growth of more than $15 billion.

He said Walmart serves 270 million customers a week in 28 countries.

“So we are a growth company, we just happen to be a big one,” he said.

Every part of the Walmart’s business, from stores to distribution centers, need strong leaders, he said.

Walmart earlier this week announced for $1 a day employees could earn two- and four-year business and supply chain management degrees through online classes offered by University of Florida, Brandman University and Bellevue University.

McMillon closed his remarks saying he wishes everyone would have had a chance to hear Sam Walton’s words in person. A hologram of Walton then appeared on stage, with him talking about the great things to come.

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UPDATE: 10:22 a.m.

The X Ambassadors on stage singing Unsteady.

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UPDATE: 10:20 a.m.

Judith McKenna, president and CEO of Walmart International, said changes in how the company does business is to position it for the future.

Walmart announced in April it’s United Kingdom chain Asda woud merge with J Sainsbury to form the U.K.’s largest retailer.

The company also announced last month it was buying Flipkart, Indias largest ecommerce retailer.

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UPDATE: 9:55 a.m.

Greg Foran, president and CEO of Walmart U.S., said traffic has increased in stores for 14 consecutive quarters.

He said innovation is key to continued growth, pointing out changes in stores’ bakeries. The best ingredients make the best products he said, and changing to clear packaging show customers Walmart has confidence in its products.

“When I think about innovation, I think about winning,” he said.

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UPDATE: 9:40 a.m.

Foxx puts on his sunglasses and tranforms into Ray Charles, belting out songs from his hit movie Ray before pulling some employees on stage for a building bumping version of Gold Digger.

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UPDATE: 9:30 a.m.

"Sam was one of the greatest entrepreneurs of all time. He was willing to try new ideas," Fox said of Walmart founder Sam Walton.

Sam Walton would have celebrated his 100th birthday this year, Penner said before introducing members of the Walton family, including Sam's children Rob, Alice and Jim.

The trio annually give out the Sam M. Walton Entrepreneur of the Year award. This year the award went to Lupita Morales, vice president of Superma Walmart Mexico. Rob Walton said her ideas and innovations helped sales increase by $4 million in one store and that prototype is being rolled out to stores across Mexico.

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UPDATE: 9:15 a.m.

John Furner, president and CEO of Sam's Club, said said he started at Store 100 in Bentonville 25 years ago and never thought he would be standing on the stage.

"Opportunity is what makes this company so great," he said.

Sam's Club is launching a training program that gives hourly workers a chance to increase pay 40 to 60 percent, to earn an annual wage of more than $50,000, said Gisel Ruiz, Sam's Club chief operating officer.

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UPDATE: 9:05 a.m.

Carly Rae Jepsen is next musical act.

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UPDATE: 8:55 a.m.

Marc Lore, preside and CEO Walmart eCommerce U.S., introduces Jenny Fleiss, co-founder and CEO Jetblack.

Jetblack is a service that allows customers to request and receive items quickly. It is limited to customers in the New York City area that are part of a pilot program.

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UPDATE: 8:49 a.m.

The Voice season three winner Cassadee Pope performing.

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UPDATE: 8:40 p.m.

Brett Biggs, Walmart chief financial officer, told the crowd Walmart had $500 billion in revenue in the last fiscal year, with sales club reporting 3 percent net sales growth and Walmart U.S. same-store sales being at the highest level in nine years. Walmart U.S. eCommerce grew 44 percent, he said. Walmart Internation had positive comp same-store sales in 10 of 11 markets, he said.

Walmart increased shareholder dividends for the 45th consecutive year, he said, andhas an opearting cash flow of more than $28 billion.

“Our company is one of the strongest in the world, period,” he said.

•••

Walmart Inc.'s meeting this morning was all about celebrating. The Bentonville-based retailer moved the business portion of its annual shareholder week to Wednesday.

About 14,000 people, including Walmart workers and shareholders, filled Bud Walton Arena for the star-studded event that featured Jamie Foxx back as host. He was also host in 2009.

The meeting started promptly at 8 a.m., with company executives getting the crowd riled up by leading the Walmart cheer and giving shout-outs to the different business segments.

Greg Penner, chairman of the board of directors, said the company's same-store sales, or sales at stores open for at least a year, last year hit its highest level in several years and increased its online presence.

"Also growing rapidly to meet the changing needs of our customers," he said.

Grocery pickup, for example, was available to about 2 percent of customers in 2014 and will increase to about 70 percent by year's end, he said.

Penner called this a "time of true transformation for our company" that will help Walmart "win the future of retail."

Brett Biggs, chief financial officer

NW News on 06/02/2018