Wal-Mart to Face Scrutiny at Annual Meeting
FAYETTEVILLE, Ark. (AP) — Wal-Mart stakeholders should get a deeper insight into new CEO Doug McMillon’s plans to shape the future of the world’s largest retailer in an era of changing consumer habits, a tough global economy and intense scrutiny in how it does business overseas.
The annual Wal-Mart shareholder’s meeting on Friday is expected to draw about 14,000 people, including its workers around the globe. McMillon took the helm at Wal-Mart Stores Inc. in February.
Like many other retail chains that cater to working-class Americans, Wal-Mart is a victim of an uneven economic recovery that has benefited well-heeled shoppers more than those in the lower-income rungs. Moreover, shoppers are increasingly looking for lower prices at online rivals like Amazon.com and at small stores like dollar chains and pharmacies.
Wal-Mart is expected to show investors how it’s fighting back,
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