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

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.

I think we've seen it all. The e-commerce store is the interesting one.

It was always the plan to bring things together, but just like the structure, it needed to be separate for a while for good reasons. We couldn't pick at store level the full Supercenter for a while. It's a lot harder to receive an e-commerce order and pick a toy at Christmas on time than it is to pick the strawberries every day, because you know where they are.

We're an 'And' company, we're people and tech, we're stores and e-commerce, we're innovation and execution.

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.