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CEO Doug McMillon told shareholders on Friday that the company has "started to invent the future of shopping again." Wal-Mart was a technology leader years ago particularly in its supply chain, and that helped to give it a price advantage. It's trying to rebuild a technology advantage while lowering costs and prices, he said. "We're putting capabilities in place now and we want to have a lower price structure than anyone else." Much of that has to do with growing its e-commerce business. Wal-Mart is giving customers a discount for picking up online orders in the store. It's expanding online grocery ordering and curbside pickup to 1,100 stores this year. Dallas-Fort Worth is its largest market for its online grocery business. Asked about online prices often being lower than in the store, McMillon said prices can change faster online than in stores, but the company is starting to tackle that issue one category at a time. It lowered free two-day shipping to $25 earlier this year. McMillon took a jab at Amazon Prime's $99 a year membership fee. Last year, Wal-Mart briefly tried a $49 membership program but ditched it and gave customers their money back. "People are paying a membership fee for free shipping.
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