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.

The two most important things in any company do not appear in its balance sheet: its reputation and its people.

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

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

I bet you that over time, because we come up with new ideas to grow sales, we end up with about the same number of people making more money.

Of course we aren't perfect. We make mistakes. But, if the world could see all of the hard-working, well-intentioned people inside our company who are making things better in their communities and in the world, I'm convinced they would be moved by it all. I am.