There are all these things that add up into this business that's Walmart that keeps it really interesting. At the root of it all, though, it's a people business and it's a merchandising business. Today, it's increasingly a technology business. The supply chain is critical, of course, and real estate still plays a key role.

Looking ahead, we will compete with technology, but win with people. We will be people-led and tech-empowered.

I think what we've seen happen so far is that as we've applied technology for the picking process in the store, for example, is that job composition has changed but we have about the same number of people.

The sales floor probably gets more people. And what we're seeing in supply chain is that it's basically the same number of people with just a whole lot more productivity, but their jobs change.

My best days have been when we've been able to raise wages for associates. I love doing that and I want to keep doing that. It's also important to have low prices.

Ten years ago, we committed to investing in our associates through higher wages, new training opportunities, and changes to our scheduling and education programs. It was a step grounded in the belief that putting people first is always the right thing to do. These investments sparked momentum in our stores that we still see and feel today.