Wal-Mart held its annual shareholders meeting, a day after the company said it's testing a program that allows store workers to deliver packages to customers to better compete with Amazon. Fred Katayama reports.
Wal-Mart held its annual shareholders meeting. And not only shareholders showed up. Thousands of employees arrived from around the world, as did suppliers, and some A-List stars. Walmart's CEO Doug McMillon: (SOUNDBITE) DOUG MCMILLON, CEO, WAL-MART (ENGLISH) SAYING: "Technology is changing what customers expect and how they shop. The next verse in our song is about them, our customers. They are the reason that we have jobs. If we don't get ahead to where they're going, they will chose to shop somewhere else." To avoid that, a day before the shareholders meeting, Wal-Mart said it's testing a program that allows store workers to deliver packages ordered online after they finish their shifts. The company says the program will cut shipping costs, speed the delivery of packages, and allow employees to earn extra cash. For now, it's being tested in stores in New Jersey and Arkansas. Manhattan Venture Partners' research head Santosh Rao: (SOUNDBITE) SANTOSH RAO, HEAD OF RESEARCH, MANHATTAN VENTURE PARTNERS (ENGLISH) SAYING: "Walmart is within ten miles of the population, so they're taking advantage of that. So, what they want to do is leverage their presence, real estate presence all over the country, and deliver, use their employees pay them extra money." The new delivery program is one way Wal-Mart hopes to better compete with its rival Amazon.