Retail Industry
Industry: Email Alert RSS FeedWhen not talking financials, fanfare abounds: this year's shareholder rally had major pop culture appeal, with celebrities from the hit TV show "American Idol" and Oscar-winning actress Halle Berry, as well as a whole lot of powerful female voices
DSN Retailing Today, June 21, 2004
Wal-Mart's annual shareholders' meeting is unlike any other in that it drops in a heavy dose of celebration into its official company business and shareholder proposals. And this year, roughly 4,500 Wal-Mart employees from all over the country and the world enjoyed even greater festivities (along with serious business) at the five-hour event, as they came face-to-face with several big-name celebrities who entertained the crowd and also plugged products sold in Wal-Mart stores and Sam's Clubs.
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Traditionally, the meeting begins with some type of high-energy activity to motivate the crowd at 7 a.m. In past-years, this responsibility fell to Richards Simmons, Billy Blanks or the rock 'n' roll bagpipe duo the Campbell Brothers. This year, it was "American Idol' runner-up Diana Di-Garmo who invigorated the crowd by inviting Wal-Mart ceo Lee Scott, vice chairman Tom Coughlin, store's division president and ceo Mike Duke, and store's division evp of operations Jim Haworth to join her on stage. She then had mem dance The Twist and The Mashed Potato, imploring the audience to join in.
Boon afterward, "American Idol" judge Paula Abdul joined Sam's Club president and ceo Kevin Turner on stage. She attended the meeting to talk about her new jewelry brand Innergy, which will be sold at Sam's Club. Following those performances, singer Kellie Coffey, rising country music star, sang the national anthem.
After some remarks by Wal-Mart chairman Rob Walton, it was Patti LaBelle's turn to pump up the crowd. And the R & B diva succeeded in doing so, as she belted out a rousing version of "Lady Marmelade," a song she popularized 30 years ago, one of three singles she performed at the meeting.
The meeting's organizers had a few more tricks to spring upon those in attendance. During a presentation by board member and former ceo David Glass, many attendees sensed something was up, especially as he began discussing merchandise, recalling how Glass enlisted Cindy Crawford's help last year to talk about Foster Grant sunglasses.
This year, he introduced a couple of "assistants" to help him discuss merchandising: Susan Lucci, longtime star of daytime soap opera "All My Children," and Oscar, winning actress and supermodel Halle Berry.
"I told you all for 30 years that merchandising is the fun part of the business," Glass said.
Lucci, who noted the meeting was her first time in Arkansas, said she was thrilled to attend the event. She proceeded to describe her new fragrance Invitation and its unique bottle. "I hope you enjoy them the way I do," Lucci said.
Berry then pitched a new Revlon product called Super Lustrous Lipgloss. "They are a company that I really believe in," Berry said, also mentioning that Revlon was the first makeup she bought as a teenager. "Now we have this new product called Super Lustrous Lipgloss."
When Glass asked the audience, "Can we sell that?" it drew a loud and favorable response.
Lucci and Berry's appearance was capped by Glass teaching them a Wal-Mart cheer, and demonstrating the proper squatting and twisting technique for performing a "squiggly"--the movement that takes place after Wal-Mart employees call out the first three letters of the company name and get to the hyphen.
The meeting concluded with The Distinguished Gentlemen, showing off the popularity of "step," synchronized rhythmic stepping and clapping dances that are popular with urban youth.
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