11 DOWN – 3 TO GO IN ‘71

And they're even getting better what with Manhattan, Kansas and Paragould, Arkansas setting record grand opening sales. Darwin Smith, Dale Walkup and team at store #35 in Manhattan are running strong for the #1 spot in the Company with their beautiful new 60,000 square foot unit. The word is they're definitely out to top Reinboth, Gammon and company as well as the Washburn team and the Hayes team at stores #29, #21 and #19 respectively.

Then the topper occurred this week taking us all by surprise when the 40,000 square foot Paragould store opened and broke all opening day sales on a per square foot basis. Hats off now to John Hawks, Supervisor, and our newest managerial team of Richard Cudd, Irvin Hunt, Lee Duckworth and Jim Reynolds. Our sincere appreciation also goes to J. W. Hyde and the very fine group of employees assembled at Paragould.

We're now involved in getting our last three stores opened - hopefully November 24 for Nevada and Moberly and by early December for Idabel. We've had a tremendous team effort from everyone this year to accomplish what would seem totally impossible for most companies our size. We've opened eleven stores thus far and all are running at a profit and on target for budgeted sales to date.

I want to take this opportunity to especially thank our very fine group of assistant managers and their wives and families for the great job they've done this year in maintaining this pace for our new store program. Not only have they all been asked to serve on numerous new store layout teams and have worked long hours, but they and their management teams have kept our old stores on track for both profit and sales this year. That's something we can all really be proud of. For year to date our stores that are more than a year old are up 12% in sales and 23% in profits. My sincere thanks again to the finest group of dedicated and capable young assistants in the country. We know you're one of the real keys to that #1 title regardless of who may be claiming it at the moment). Good luck - it looks like we've got '71 in the bag, and we're about ready to take on ‘72.

One last reminder for us regarding the importance of this last sixty days on which our whole year so much depends. You veterans who have been through this busy Christmas season know what I mean. Let's all do everything within our power to extend our customers the very best service and Wal-Mart friendliness during this important period. Our customers expect, and indeed they must receive the best in service and merchandise as they purchase their Christmas giving items. The true test of a professional in our business is when he or she can fulfill the last demand of the last Christmas customer with a smile and prompt courteous service. To insure that we meet the goal of satisfying our customers will require the best effort from every Wal-Mart employee. I wish to thank each of you in advance for your support, strength, and effort which I know will make this "sixty day" season the most successful Wal-Mart has ever experienced.

Sam Walton

President