Ahead Of The Bell: Wal-Mart Shareholders' Meeting

ANNE D'INNOCENZIO

FAYETTEVILLE, Ark. (AP) — With Wal-Mart Stores Inc. among the few bright spots in retailing, shareholders will have reason to cheer as they descend at the world's largest retailer's annual meeting Friday.

But they will also be looking to hear more specifics from executives about how the discounter will thrive and retain its new shoppers once the economy recovers.

Wal-Mart has been rapidly gaining market share and customers around the globe as its renewed emphasis on low pricing and the right mix of marketing and merchandise have come together just as the economy began to sour.

The retailer has cleaned up its stores, upgraded its customer service and spruced up its merchandise. It's hoping that an improved shopping experience will keep its new customers once economic conditions improve.

Thousands are expected to pack the University of Arkansas arena in Fayetteville, Ark., about 30 miles from the company's headquarters in Bentonville on Friday.

"Even though this is the most challenging economy we've faced in decades, certainly we feel good about the business," Mike Duke, who became the company's new CEO and president on Feb. 1, said in a pre-recorded address to investors last month. Duke had been vice chairman of Wal-Mart's international division.