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By: Megan Dow, Kristin Belanger, and

Angle Bourgoin

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Overview of WAL-MARTPresentation

Overview of WAL-Mart

History

Stocks

Stock Information

The Divisions

BCG

Their Mission and Vision Statement

New Mission and Vision Statement

External Opportunities and Threats

CPM

EFE

Internal Strengths and Weaknesses

IFE

Analysis

SWOT Matrix

SPACE

IE Matrix

Grand Strategy Matrix

Key Ratios

Different Strategies

QSPM

Decisions

EPS/EBIT Analysis

Implementation

Evaluation

Update!

References

Questions?
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Overview of Wal-Mart

There are 4 different segments

Wal-Mart Stores- sales amounted to 64.3%

Discount Stores- 1,568 U.S

Supercenters- 1,258 U.S

Neighborhood Markets- 49 stores U.S

Sams Club- sales amounted to 13.0% 525 stores U.S

Is a member only, cash and carry operations

International- sales amounted to 16.7%

Discount stores- 942 Sams Clubs- 71

Supercenters- 238 Neighborhood Market- 37 Other- amounted to 6.1%

McLane is the nations largest distributor of food and merchandise toconvenience stores

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History of Wal-Mart

In 1945 Sam Waltonopened the first BenFranklin franchise inNewport Arkansas andoperated them with his

wife, Helen and brother,Bud.

These were small chainsthat were very successful.

In November of 1962

Wal-Mart was opened. Wasnt until mid 1970s

that Wal-Mart began togrow.

1stIPO in 1970. Then 100 shares were

worth $1,650 dollars andnow the same 100 sharesare worth more than $6million dollars.

In 1999 named #1 stockon the Dow.
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History

1987

2 new conceptimplemented

Hypermarkets, which

sell everythingincluding food

Supercenters which arescaled downsupermarkets

Also David Glass named newCEO of Wal-Mart

In 1992 Sam Walton Diedand in 1996 Bud Waltondied.

In 1995 Wal-Marts Annual

Report was dedicated toBud.

New president and CEOH. Lee Scott states that

While our history is richwith success, theres noquestion that our bestyears are yet tocome.
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WAL-MART

Years sincestarted
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Important People

Co-founders, Sam and James Bud Walton started 1stWal-Mart inRogers, Arkansas, 1962

David Glass was named president 1984, in 1988 he became chiefexecutive officer

S. Robson Walton named chairman of the board in 1992

President and CEO in 2000- H.Lee Scott Vice President- Laura Philips
http://graphics.samsclub.com/wmimages/wmstores/sam_bud.jpghttp://graphics.samsclub.com/wmimages/wmstores/rob_walton.jpghttp://graphics.samsclub.com/wmimages/wmstores/david_glass.jpghttp://walmartstores.com/GlobalWMStoresWeb/navigate.do?catg=236&contId=5681http://www.bigimpact.org/Walmart%20smiley.JPG

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Important Facts

In 2004, we conducted more than 15,000factory inspections - that's an average ofmore than 40 a day.

We serve more than 138 million customersper week.

Wal-Mart employs 1.6 million associates

worldwide in more than 3,700 stores inthe US and more than 1,500 throughoutthe rest of the world.

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WMT

Traded on NYSE Symbol WMT Index Membership:

Dow Jones Composite Dow Industrials S&P 100 S&P 500

S&P 1500 Super Comp Sector: Services Industry: Discount Variety Stores

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WMT vs Dow Jones & S&P 500

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WMT vs Industry

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WMT 5 years

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WMT 30 years

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Stock Splits

2:1 Stock Splits Shares Cost Per ShareMarket Price

on Split Date Record Date Distributed

May-71 200 8.25 $ 47.00 5/19/1971 6/11/1971

Mar-72 400 4.125 $ 47.50 3/22/1975 4/5/1972

Aug-75 800 2.0625 $ 23.00 8/19/1975 8/22/1975

Nov-80 1600 1.03125 $ 50.00 11/25/1980 12/16/1980

Jun-82 3200 0.515625 $ 49.88 6/21/1982 7/9/1982

Jun-83 6400 0.257813 $ 81.63 6/20/1983 7/8/1983

Sep-85 12800 0.128906 $ 49.75 9/3/1985 10/4/1985

Jun-87 25600 0.064453 $ 66.63 6/19/1987 7/10/1987

Jun-90 51200 0.032227 $ 62.50 6/15/1990 7/6/1990

Feb-93 102400 0.016113 $ 63.63 2/2/1993 2/25/1993

Mar-99 204800 0.008057 $ 89.75 3/19/1999 4/19/1999

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Stocks

WMT COST Pvt1 TGT Industry

Market Cap: 193.36B 26.06B N/A 45.01B 1.84B

Employees: 1,800,000 60,500 133,0001 338,000 18.62K

Qtrly Rev Growth (yoy): 8.60% 11.00% N/A 11.50% 9.60%

Revenue (ttm): 312.43B 55.68B 19.70B1 52.62B 3.63B

Gross Margin (ttm): 23.06% 12.37% N/A 32.15% 28.72%

EBITDA (ttm): 23.25B 2.06B N/A 5.73B 268.09M

Oper Margins (ttm): 5.93% 2.79% N/A 8.22% 6.37%

Net Income (ttm): 11.23B 1.08B 1.11B1 2.41B 128.53M

EPS (ttm): 2.682 2.215 N/A 2.708 1.16

P/E (ttm): 17.30 24.97 N/A 19.08 17.08PEG (5 yr expected): 0.99 1.72 N/A 0.96 1.07

P/S (ttm): 0.61 0.46 N/A 0.85 0.51

COST= Costco Wholesale Corp.

Pvt1= Kmart Corporation(subsidiary or division)

TGT= Target Corp.

Industry= Discount, Variety Stores1= As of 2005
http://finance.yahoo.com/q?s=WMThttp://finance.yahoo.com/q?s=COSThttp://finance.yahoo.com/q?s=TGThttp://finance.yahoo.com/q/in?s=WMThttp://finance.yahoo.com/q?s=COSThttp://biz.yahoo.com/ic/10/10830.htmlhttp://finance.yahoo.com/q?s=TGThttp://finance.yahoo.com/q/in?s=WMThttp://finance.yahoo.com/q/in?s=WMThttp://finance.yahoo.com/q?s=TGThttp://biz.yahoo.com/ic/10/10830.htmlhttp://finance.yahoo.com/q?s=COSThttp://finance.yahoo.com/q/in?s=WMThttp://finance.yahoo.com/q?s=TGThttp://finance.yahoo.com/q?s=COSThttp://finance.yahoo.com/q?s=WMThttp://www.bigimpact.org/Walmart%20smiley.JPG

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Their Mission Statement

They dont have a formal mission statement

They are most interested in the customers needs

The culture consists of

Respect for the individual Service to our customers

Strive for excellence

If they did have a formal mission statement it would be,To provide quality products at an everyday low price

and with extended Customer servicealways.

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Mission Statement

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Their Vision Statement

"The secret of successful retailing is to give yourcustomers what they want. And really, if youthink about it from your point of view as a

customer, you want everything: a wideassortment of good-quality merchandise; thelowest possible prices; guaranteed satisfactionwith what you buy; friendly, knowledgeable

service; convenient hours; free parking; apleasant shopping experience."

- Sam Walton (1918-1992)

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New Mission Statement

Our mission is to provide goods and services for our customers ateveryday low prices. With our innovative technology we strive tohave merchandise ranging from food, clothes, music, etc. on hand24 hours a day 7 days a week. We are committed to the growth ofWal-Mart and challenge ourselves to be better. We strive to have the

best, be the best, and provide quality and assurance to ourcustomers. Our employees are a huge asset to our company, and wewould not be the company we are today without them. They have ahuge impact on what our company was, what it is, and what it willbe. We also feel it is important to give generously to those who are

less fortunate than others, which is why Wal-Mart donatesthousands of dollars a year to different organizations.

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New Vision Statement

Our vision is to provide good quality andservices to our customers while remainingthe market leader and striving daily to be

the most admired company.

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Divisions of WAL-MART

McLanes

NeighborhoodMarkets

International

Sams Club

Supercenters

Distribution Centers

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McLanes

Nations largest distributor of food andmerchandise to convenience stores.

In 2003 was sold to Berkshire Hathaway,Inc. so Wal-Mart could focus on core retailbusiness.

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Neighborhood Markets

Began in 1998

Located in market withWal-Mart Supercenters

Offers customergroceries,pharmaceuticals &general merchandise.

Provides 28,000 items tocustomers.

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International

Wal-Mart expanded sothat customerseverywhere wouldassociate its name with

low cost, best value,greatest selection ofquality merchandise andhighest standards of

customer service. Wal-Mart focused on

Global Positioning.

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Sams Club

Membership-only, cash-and-carry operations.

Financial service credit card program (DiscoverCard) available at all clubs.

Annual membership fee is $35; the EliteMembership is $100.

Elite membership has additional benefits likeautomotive service contracts, roadside assistance,

home improvement, auto brokering and pharmacydiscounts.

Bulk displays and name brand merchandise.
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Worldly Stores

CountryDISCOUNT

STORESSUPERCENT

ERSSAM'S

CLUBSNEIGHBORHOOD

MARKETS

Argentina 0 11 0 0

Brazil 0 12 8 2

Canada 213 0 0 0

China 0 20 4 2

Germany 0 94 0 0

Korea 0 15 0 0

Mexico 472 75 50 0

Puerto Rico 9 1 9 33United Kingdom 248 10 0 0

InternationalTotals 942 238 71 37

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Stores in US and World

U.S. Totals 1568 1258 525 49

GrandTotals 2510 1496 596 86

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BCG

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External Factors

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Key External Factors

OpportunitiesAgreement with Berkshire Hathaway, Inc. acquired

McLane Company, Inc. Fortunes number one Most Admired Company and

largest company in nation Worlds largest private satellite communicationsystems

Ron Brown Corporate Leadership Award

Threats Buy American policy TargetA solution to the monopoly that Wal-Mart has created

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EFE

Key External Factors Weights Rating Weighted Score

0.0 to 1.0 1 to 4

Opportunities

Agreement with Berkshire Hathaway, Inc.

acquired McLane Company, Inc. 0.1 3 0.3

Fortunes number one Most Admired Company

and largest company in nation 0.14 4 0.56

Worlds largest private satellite communication systems 0.16 4 0.64

Ron Brown Corporate Leadership Award 0.11 3 0.33

0

Threats

Buy American policy 0.15 3 0.45

Target 0.14 3 0.42

A solution to breaking the monopoly Wal-Mart has created 0.2 4 0.8

Totals 1 3.5

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Internal Factors

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Key Internal Factors

Strengths Stores in all 50 states New concepts:

Hypermarkets, supermarkets

Wide variety of merchandise

Nationally advertised merchandise Limited lines of merchandise made in USA Point-of-sale bar code scanning Great employee benefits

Weaknesses

No formal mission statement Management resisted putting women on board of directors Hiring illegal minorities to clean Growth for employees only in division

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IFE

Key Internal Factors Weights Rating Weighted Score

0.0 to 1.0 1 to 4

Internal Strength s

Stores in all 50 states 0.09 4 0.36

New Concepts - Hypermarkets, supermarkets 0.1 3 0.3

Wide variety of merchandise 0.1 3 0.3

Nationally advertised merchandise 0.08 3 0.24

Point-of-sale bar code scanning 0.13 4 0.52

Great Employee Benefits 0.09 3 0.27

0

Internal Weaknesses

No formal mission statement 0.1 3 0.3

Management resisted putting women on board of directors 0.13 3 0.39

Hiring illegal minorities 0.08 2 0.16

Growth for employees only in its division 0.1 3 0.3

0

Totals 1 3.14

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SWOT

Increase the amount of hypermarkets, supermarketsin 50states as well as connect to the private satellitesystems(S2, SO)

Create mission statements for all of the acquiredcompanies and the different divisions of Wal-Mart(O1, W1)

Use the Most Admired Company award as leverage

to advertise the wide variety of merchandise (S3, O2)

Use the Buy American policy to advertisenationally how American Wal-Mart is (S3, T1)

Increase minority sales through buying minorityproducts and selling them in discount stores (T1, W3)

Use point-of-sale bar code scanning asleverage over competitors like Target (S5, T2)

Offer more merchandise that is not apart of the"Buy American" policy to attract more customers (S3,T1)

Find a solution to the monopoly that has been created

and come up with a new concept to beat the problem.(S2, T3)

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CPM

Wal-Mart Target Kmart

Critical Success factors WeightsRatin

gWeighted

ScoreRatin

gWeighted

ScoreRatin

gWeighted

Score

0.0 to1.0 1 to 4 1 to 4 1 to 4

Market Share 0.03 3 0.09 2 0.06 2 0.06

Inventory System 0.02 3 0.06 3 0.06 2 0.04

Financial Position 0.04 2 0.08 2 0.08 3 0.12

Product Quality 0.05 3 0.15 3 0.15 2 0.1

Consumer Loyalty 0.03 3 0.09 2 0.06 2 0.06

Sales Distribution 0.02 3 0.06 3 0.06 2 0.04

Global Expansion 0.03 3 0.09 2 0.06 2 0.06

Organization Structure 0.02 3 0.06 3 0.06 2 0.04

Production Capacity 0.01 3 0.03 2 0.02 2 0.02

Advertising 0.25 4 1 3 0.75 2 0.5

Customer Service 0.05 3 0.15 3 0.15 3 0.15

Price Competition 0.4 3 1.2 2 0.8 2 0.8

Management Experience 0.05 3 0.15 2 0.1 3 0.15

Totals 1 3.21 2.41 2.14
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SPACE

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IE Matrix

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Grand Strategy Matrix

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Key Ratios

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Last Trade: 45.54

Trade Time: 4:00PM ET

Change: 0.28 (0.61%)

Prev Close: 45.82

Open: 45.62

Bid: N/A

Ask: N/A

1y Target Est: 56.47

Day's Range: 45.40 - 45.74

52wk Range: 42.31 - 50.87

Volume: 12,143,600

Avg Vol (3m): 11,944,400

Market Cap: 189.78B

P/E (ttm): 16.98

EPS (ttm): 2.68

Div & Yield: 0.67 (1.50%)

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Different Strategies

Add more hypermarkets andsupermarkets to establish more growth

Buy products from other countries to havemore of a variety of merchandise andbetter quality merchandise for customers

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QSPM

Wal-Mart

More hypermarkets/

supermarket Buy American

Key factors Weight AS TAS AS TAS AS TAS

External 1 to 4 1 to 4 1 to 4

Agreement with Berkshire Hathaway, Inc. acquired McLane's Company, Inc.

0.1 3 0.3 2 0.2 2 0.2

Fortune's number one Most Admired Company and largest company in nation

0.14 4 0.56 4 0.56 3 0.42

World largest private satellight communication systems 0.16 4 0.64 3 0.48 3 0.48

Ron Brown Corporate Leadership Award

0.11 3 0.33 3 0.33 2 0.22

"Buy American" policy 0.15 3 0.45 3 0.45 4 0.6

Target 0.14 4 0.56 4 0.56 3 0.42

A solution to breaking the monopoly that Wal-Mart has created

0.2 4 0.8 N/A 0 N/A 0

total should be 1.0 1

Internal 1 to 4 1 to 4 1 to 4

Stores in all 50 states 0.09 4 0.36 4 0.36 4 0.36

New Concepts - hypermarkets and supermarkets 0.1 3 0.3 4 0.4 3 0.3

Wide variety of merchandise 0.1 3 0.3 4 0.4 3 0.3

Nationally advertised merchandise 0.08 3 0.24 4 0.32 3 0.24

Point-of-sale bar code scanning 0.13 4 0.52 4 0.52 3 0.39

Great Employee Benefits 0.09 3 0.27 3 0.27 2 0.18

No formal mission statement 0.1 3 0.3 3 0.3 3 0.3

Management resisted putting women on board of directors 0.13 3 0.39 3 0.39 3 0.39

Hiring illegal minorities 0.08 2 0.16 2 0.16 2 0.16

Growth for employees only in its division 0.1 3 0.3 3 0.3 3 0.3

total should be 1.0 1

6.78 6 5.26
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Decisions

We decided to add more hypermarketsbased on the QSPM even though thenumbers were close for both strategies

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EPS/EBIT Analysis

Amount needed = $1 Billion

Stock Price = $45.54

EBIT Range = 435,950 - 635,950 Tax Rate = 26%

Interest rate = 5%

# Shares Outstanding = 4,453,000

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EPS/EBIT

In $MillionsCommon Stock

Financing Debt Financing

High Low High Low

EBIT (12,719,000 in 2003) 635,950 435,950 635,950 435,950

Interest 5% 0 0 31,798 21,798

EBT 938,900 638,900 604,153 414,153

Taxes 26% 165,347 113,347 165,347 113,347

EAT 773,553 525,553 438,806 300,806

# Shares Outstanding 4,453,000 4,453,000 13,964,000 13,964,000

EPS 5.68 5.64 3.65 3.65

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Implementation

Begin adding more hypermarkets to townswith populations large enough to supportthem.

Increase the amount of hypermarkets byone in every state (50 stores)

Increase revenue by Debt Financing per

EPS/EBIT analysis

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Evaluation

Quarterly Reports

Yearly Reports

Store growth report

Annual Sales report

Key Ratios

Stock prices in comparison to competitors

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In the News

In 2003 managed to get action lawsuit against Wal-Martbased on so few women being among its managers giventhat a majority of its workforce is female and also forequal pay. Ended up settling case because didnt want tolose a case for discrimination because would hurt Wal-

Marts bottom line. But as the judge rightly ruled,companies that do business on as large a scale as Wal-Mart have to be prepared to answer for their actions onan equally large scale. Case settled in June 2004 andbegan in September of 2003.

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In the News

In June 2005 Oklahoma grocer Super H filed lawsuitagainst Wal-Mart Stores for using a scanner to collectbarcode data from the products on the Super HsShelves. Wal-Mart allegedly sent workers into Super Hto check prices close to the time a Supercenter wasopening in August. Super H wants the scanner back, notbecause of the price information but to make sure thatthere is not inventory and wholesale prices in thescanner. The real question in this case was not the price

scanning but can the scanner capture other informationfrom the scanning tag then just the price. The suit wasdismissed per news reports.

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In the News

In April 2006 a suit was filed against a Wal-Mart in Maryland toensure that larger employers pay up to a percentage toward healthcare for employees. ERISA is there to establish a uniform nationalframework for sponsoring, administering, protecting, and regulatingemployee benefit plans, including pension plans, and health andwelfare plans. ERISA has a broad clause that pre-empts states and

municipalities from enacting laws that relate to employee benefitsplans. In this case it is not sure if the Maryland law or bills in otherstates violates the ERISA previsions. In February Wal-Martannounced plans to upgrade its health care benefits. This wasdecided in the middle of the uproar in this Maryland case.

Here are a few cases about Wal-Mart. There were 52 pages of casesif you would like to see more go to Business & Company ResourceCenter, News/Magazines.

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In the News

Military Families Outreach ProjectPartnership with Sesame Workshop tosupport children of military families.

Children's Miracle NetworkBuy a balloon, save a child's life.

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Update!

International Division

2005 was a busy year for Wal-MartInternational. In December alone, the

company acquired 545 new stores and gainedmore than 50,000 new associates in Japanand South America, capping a year of robustgrowth.

Now have 13 divisions within the company

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References

http://www.walmart.com

http://finance.yahoo.com

Strategic Management Concepts and Cases

http://galenet.galegroup.com.prxy6.ursus.maine.edu/servlet/BCRC?locID=maine_fortkent

Tony Gauvins presentation on Krogers

http://www.target.com
http://www.walmart.com/http://finance.yahoo.com/http://galenet.galegroup.com.prxy6.ursus.maine.edu/servlet/BCRC?locID=maine_fortkenthttp://galenet.galegroup.com.prxy6.ursus.maine.edu/servlet/BCRC?locID=maine_fortkenthttp://galenet.galegroup.com.prxy6.ursus.maine.edu/servlet/BCRC?locID=maine_fortkenthttp://www.yahoo.finance.com/http://www.target.com/http://www.target.com/http://www.yahoo.finance.com/http://galenet.galegroup.com.prxy6.ursus.maine.edu/servlet/BCRC?locID=maine_fortkenthttp://galenet.galegroup.com.prxy6.ursus.maine.edu/servlet/BCRC?locID=maine_fortkenthttp://galenet.galegroup.com.prxy6.ursus.maine.edu/servlet/BCRC?locID=maine_fortkenthttp://finance.yahoo.com/http://www.walmart.com/http://www.bigimpact.org/Walmart%20smiley.JPG

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Questions?

Thank you for shopping at WAL-MART

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