Together, we're building a new Walmart. We're going to make shopping with us faster, easier and more enjoyable. We'll do more than just save customers money and you, our associates, will make the difference.

We're happy to serve people however they wanna be served. Customers these days shop in kind of an all-of-the-above way. They use stores, they use pick up, they use delivery.

As I look across our company, we have everything from store associates to supply chain associates. Of the 2.1 million people (globally), something less than 75,000 of them are home office jobs. All the other ones are working in a store, a club, a distribution center. And I think those jobs change more gradually. We are still going to want to serve customers and members with people. The change as it relates to the home office jobs probably happens faster.

One of the biggest areas of change in the last decade is related to associates that work in our stores, picking orders for delivery and pickup for our customers. And we have something north of 200,000 people doing that job, and yet we have about the same (total) number of people working in Walmart U.S.

Today, we still have more than 300,000 U.S. associates who were with us since 2015 and are now leading teams, running stores and clubs, and continuing to grow their careers. Their stories are a reminder that when people are given opportunity, they make the most of it - and a culture of opportunity creates a cycle where happy associates lead to happy customers and members, and vice versa.

One way to think about Walmart is a very large river of merchandise, moving from raw material to a customer and anytime that river of merchandise has imperfections, we either have an out of stock or we have some sort of overstock that creates additional costs, labor markdowns, accidents, damages.