Walmart's (WMT) Management Presents at 2020 UBS Global Consumer & Retail Conference (Transcript)

Mar. 06, 2020 1:05 PM ETWalmart Inc. (WMT)
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Walmart Inc. (NYSE:WMT) 2020 UBS Global Consumer & Retail Conference March 5, 2020 9:45 AM ET

Company Participants

Brett Biggs – Chief Financial Officer

Conference Call Participants

Michael Lasser – UBS

Michael Lasser

Good morning, everyone. I’m Michael Lasser, the hardline, broadline and food retail analyst from UBS. We could not be more excited to have the team from Walmart with us today. To my immediate left is Brett Biggs, the Company’s Executive Vice President and Chief Financial Officer. He’s been the CFO of Walmart since 2016 and it’s no coincidence that during this time, Walmart has crushed it. So we would call that a direct correlation with…

Brett Biggs

So no pressure.

Michael Lasser

With Brett is other members of the team, including Dan Binder, who heads the IR team; Kary Brunner, who also works on the IR team; and Chris Nicholas, who’s the CFO of the International business. Walmart has some disclosures. They may read some forward-looking statements. Please go to their website to have a full download of their forward-looking statements. So with that, Brett, thank you for being here.

Brett Biggs

Yes, my pleasure.

Michael Lasser

We really appreciate it. Over the last few years, Walmart’s realized some sizable gains in various areas of its in-store execution, service levels, store appearance, in-stocks. One question that constantly comes up is, have we reached a maximum threshold of the improvements that can be gained? Or is just – or is there more room to go? And what are the biggest areas of opportunity?

Brett Biggs

Yes. Thanks for having us, by the way. And thanks to everybody in the room and on the webcast. Thanks for your interest in Walmart. Yes, it’s interesting. When you go back, I was even going back and reviewing notes of when I’ve been here in the last two years or

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