It's not a faith in technology. It's faith in people.

Until we're serving humanoid robots and they have the ability to spend money, we're serving people. We're going to put people in front 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.

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.

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.