FAYETTEVILLE, Ark. — Wal-Mart Stores here on Friday pledged to be aggressive in its global expansion initiatives and to ramp up its emphasis on low pricing.
Speaking at the company’s annual shareholders’ meeting here, Mike Duke, president and chief executive officer, said the Bentonville, Ark.-based company is entering an “era of price transparency.”
“And what kind of retailer wins in an era of price transparency? You got it, the price leader,” Duke said. “Wal-Mart must widen the gap here. We will win on price leadership, and we will win big.”
He also spoke about the need to recruit “the best talent” and “help them become global citizens” as the company expects to hire 500,000 people around the world in the next five years.
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