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1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense

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Page 1: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 2: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 3: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 4: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 5: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 6: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 7: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 8: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 9: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 10: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 11: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 12: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 13: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 14: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 15: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 16: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 17: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 18: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 19: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 20: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 21: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 22: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 23: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 24: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 25: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 26: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 27: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense
Page 28: 1981 Annual Report - Walmart.com€¦ · Our ongoing profitability should enable us to finance our future growth in- ... Inc., and Editor of ... marketing strategy and our low expense

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