Bill Simon, CEO of Walmart US, spoke at the Raymond James Investor Conference held in Orlando on Tuesday (Mar. 5).
The retail executive said the company is sharing its financial success with $1.5 billion in bonuses paid to store associates during fiscal 2013.
Another $550 million was saved in employee discounts by Wal-Mart workers, and the retailer contributed $800 million to its employees’ 401(k) retirement plans during fiscal 2013, he explained.
The four biggest concerns on Wal-Mart customers’ minds include:
• job security
• higher payroll taxes
• rising food costs
• increased gas and energy costs
The retailer will advertise its low price guarantee in 50 local markets during the first quarter, featuring savings found at Walmart Neighborhood Markets.
Wal-Mart will continue to escalate its investment in Neighborhood Markets to 500 stores by 2016, opening 115 this year.
Density tests are being conducted in North Carolina for 10 new Express Stores that will be under 10,000 square feet.