The time is upon mighty Walmart to abolish its annual shareholder and employee rave, says CEO of Belus Capital Advisors Brian Sozzi. According to Sozzi, the company should make June 2014 its last celebration of a business that resembles little of the retailing disciplines of founder Sam Walton, other than low prices. No more Hugh Jackman as MC. No more very weird Tom Cruise cameo that lights up Twitter and the investor relations page of Walmart that has live streaming commentary on the event. It’s time for Walmart to start an open and honest discussion with shareholders. The reason is simple -- the company’s financials are in peril. Sales are on a downtrend. Margins are declining. Returns on assets and investment are slipping big-time. Sozzi believes the savings from not having an annual party in Bentonville, Arkansas should be reinvested in nationwide town hall meetings, where executives from the ivory tower and regional managers meet with employees and shareholders to learn what is occurring on a micro level.
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