Wal-Mart CEO wants to merge e-commerce, stores

FAYETTEVILLE, Ark. - Wal-Mart's newly anointed CEO, Doug McMillon, said the world's largest retailer's task was to bring the changing world of e-commerce together with physical stores to help make customers' shopping experience better as technology evolves.

He made the comments at Wal-Mart Stores Inc.'s annual shareholders meeting on Friday at a time when the company seeks to address concerns over declining sales and its business practices.

"Our purpose of saving people money will always be relevant, but we'll do it in new ways," said McMillon, who took over as CEO in February. "We're going to invent the new and bring together the digital world of e-commerce with physical world of our stores."

To bolster his point, he talked about a service Walmart offers at its Asda.com website in the United Kingdom, where customers can order groceries online and pick them up from trucks at various points in the city.

He also showed off miniature figures of executives to illustrate how some Walmart stores have been using 3D printers to make figurines for U.K. customers.

"Imagine a day when we can print small household items and replacement parts in a store," he said.

The meeting drew 14,000 Walmart workers around the world to the University of Arkansas Bud Walton arena in Fayetteville.

Typical of past Walmart shareholders meetings, the event was packed with celebrity entertainment. Actor/singer Harry Connick Jr. served as master of ceremonies and at one point said he was going off script to sing "A Closer Walk With Thee." There were also musical acts by Pharrell and Robin Thicke.

Despite the festivities, the company is under scrutiny on all fronts. Revenue at established Walmart stores in the U.S. has declined for five consecutive quarters. The number of customers has also fallen six quarters in a row at the division, which accounts for 60 percent of the company's total sales.