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Page 1: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 2: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 3: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 4: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 5: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 6: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 7: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 8: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 9: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 10: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 11: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 12: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 13: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 14: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 15: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 16: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 17: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 18: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 19: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 20: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 21: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 22: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 23: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 24: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 25: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 26: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 27: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

Page 28: 1993 Annual Report - Walmartcdn.corporate.walmart.com/bb/68/a9b5b1f84b2c93b5e7... · Management's Discussion and Analysis .. Consolidated Financial Statements ... the purchasing and

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