WAL-MART STORES, INC.

Notable in fiscal 2016

• Instituted wage increases for approximately 500,000 employees — nearly half Wal-Mart’s U.S. workforce — as part of a $1 billion pay, training and scheduling initiative, raising its minimum wage to $9 per hour

• Began wider rollout of grocery pick-up services in an attempt to further marry in-store and e-commerce shopping

• Worked to streamline operations in its corporate offices and at the store level, leading to layoffs of 450 employees at Wal-Mart home office and 120 at Sam’s Club headquarters

Expected in fiscal 2017

• Wal-Mart warned investors that earnings per share could decline as much as 12 percent for the fiscal year as it continues to invest in U.S. labor and global e-commerce operations

• Second phase of raises to go into effect, which will increase minimum wage in its stores to $10, and changes to its paid time off and short-term disability offerings

• “Clean. Fast. Friendly.” will continue to be a focus for Wal-Mart in its U.S. stores