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Shopping Centers Today -> February 2002
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WAL-MART CEO TO SPEAK IN LAS VEGAS
H. Lee Scott Jr., president and CEO of Wal-Mart Stores, Bentonville, Ark., will offer the unique perspective of the world’s largest retailer to delegates at the May 19 to 22 ICSC Spring Convention in Las Vegas.
Scott will be the keynote speaker at a luncheon on Monday, May 20, at the Las Vegas Hilton.
Wal-Mart, founded in 1962 by the late Sam Walton, is continuing to grow and thrive, despite the recession. The chain operates more than 4,500 stores around the world, including Wal-Mart discount stores, Wal-Mart Supercenters, and Sam’s Club membership warehouses, and plans to open 50 new discount stores and about 70 additional Supercenters in the United States this year. Overseas Wal-Mart is opening about 125 units in existing markets. The company’s stores are in Argentina, Brazil, Canada, China, Germany, Korea, Mexico, Puerto Rico and the United Kingdom.
A 20-year Wal-Mart veteran, Scott was named president and CEO of the corporation in January 2000. He previously served in positions in transportation, distribution and logistics, culminating in his promotion to executive vice president of merchandise in 1995. Under his leadership, the company achieved a 47 percent sales increase with only a 7 percent merchandise expansion by eliminating excess inventory. In 1998, Scott was named president and CEO of the corporation’s stores division; a year later, he became COO and vice chairman of the corporation.
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