div class=ts-pagebuttonPage 1button div class=ts-image amp-img class=ts-thumb alt=Page 1: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails1jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 2button div class=ts-image amp-img class=ts-thumb alt=Page 2: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails2jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 3button div class=ts-image amp-img class=ts-thumb alt=Page 3: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails3jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 4button div class=ts-image amp-img class=ts-thumb alt=Page 4: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails4jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 5button div class=ts-image amp-img class=ts-thumb alt=Page 5: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails5jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 6button div class=ts-image amp-img class=ts-thumb alt=Page 6: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails6jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 7button div class=ts-image amp-img class=ts-thumb alt=Page 7: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails7jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 8button div class=ts-image amp-img class=ts-thumb alt=Page 8: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails8jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 9button div class=ts-image amp-img class=ts-thumb alt=Page 9: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails9jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 10button div class=ts-image amp-img class=ts-thumb alt=Page 10: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails10jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 11button div class=ts-image amp-img class=ts-thumb alt=Page 11: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails11jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 12button div class=ts-image amp-img class=ts-thumb alt=Page 12: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails12jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 13button div class=ts-image amp-img class=ts-thumb alt=Page 13: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails13jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 14button div class=ts-image amp-img class=ts-thumb alt=Page 14: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails14jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 15button div class=ts-image amp-img class=ts-thumb alt=Page 15: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails15jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 16button div class=ts-image amp-img class=ts-thumb alt=Page 16: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails16jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 17button div class=ts-image amp-img class=ts-thumb alt=Page 17: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails17jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 18button div class=ts-image amp-img class=ts-thumb alt=Page 18: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails18jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 19button div class=ts-image amp-img class=ts-thumb alt=Page 19: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails19jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 20button div class=ts-image amp-img class=ts-thumb alt=Page 20: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails20jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 21button div class=ts-image amp-img class=ts-thumb alt=Page 21: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails21jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 22button div class=ts-image amp-img class=ts-thumb alt=Page 22: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails22jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 23button div class=ts-image amp-img class=ts-thumb alt=Page 23: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails23jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 24button div class=ts-image amp-img class=ts-thumb alt=Page 24: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails24jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 25button div class=ts-image amp-img class=ts-thumb alt=Page 25: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails25jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 26button div class=ts-image amp-img class=ts-thumb alt=Page 26: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails26jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 27button div class=ts-image amp-img class=ts-thumb alt=Page 27: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails27jpg width=142 height=106 layout=responsive amp-img divdivdiv class=ts-pagebuttonPage 28button div class=ts-image amp-img class=ts-thumb alt=Page 28: 1981 Annual Report - Walmartcom€¦ · Our ongoing profitability should enable us to finance our future growth in- Inc and Editor of marketing strategy and our low expense src=https:reader031vdocumentinreader031viewer20220309085b5320547f8b9aa40e8b6320html5thumbnails28jpg width=142 height=106 layout=responsive amp-img divdiv