WMT Walmart Inc.

Risks

• We face strong competition from other retailers and wholesale club operators which could materially adversely affect our financial performance.
• If we do not timely identify or effectively respond to consumer trends or preferences, it could negatively affect our relationship with our customers, demand for the products and services we sell, our market share and the growth of our business.
• Failure to successfully execute our omni-channel strategy and the cost of our investments in eCommerce and technology may materially adversely affect our market position, net sales and financial performance.
• The performance of strategic alliances and other business relationships to support the expansion of our business could materially adversely affect our financial performance.
• Risks associated with our suppliers could materially adversely affect our financial performance.
• If the products we sell are not safe or otherwise fail to meet our customers' expectations, we could lose customers, incur liability for any injuries suffered by customers using or consuming a product we sell or otherwise experience a material impact to our brand, reputation and financial performance. We are also subject to reputational and other risks related to third-party sales on our digital platforms.
• If the technology-based systems that give our customers the ability to shop with us online do not function effectively, our operating results, as well as our ability to grow our omni-channel business globally, could be materially adversely affected.
• Any failure to maintain the security of the information relating to our company, customers, members, associates and vendors, whether as a result of cybersecurity attacks on our information systems or otherwise, could damage our reputation, result in litigation or other legal actions against us, cause us to incur substantial additional costs, and materially adversely affect our business and operating results.
• Changes in the results of our retail pharmacy business could adversely affect our overall results of operations, cash flows and liquidity.
• Our failure to attract and retain qualified associates, increases in wage and benefit costs, changes in laws and other labor issues could materially adversely affect our financial performance.
• Failure to meet market expectations for our financial performance could adversely affect the market price and volatility of our stock.
• We are subject to certain legal proceedings that may materially adversely affect our results of operations, financial condition and liquidity.
• Our amended and restated bylaws designate the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our shareholders, which could limit our shareholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or shareholders in such capacity.