Dillman said she sees an expanding role for Wal-Mart's dot-com arm. "We've changed our dot-com presence," she said, explaining that what began as a way to sell products now functions more as a marketing arm for the retailer. Looking ahead, Dillman said she sees Wal-Mart using its Internet site to offer customers software-based tools to help them plan their in-store shopping visits, more closely manage their health care and prescription medication usage and purchases and do more research about products they'd like to buy at the store.

Wal-Mart is also working closely with several technology vendors to develop IT-enabled products and services, some of which will be used and/or sold by Wal-Mart exclusively -- at least for an initial period. For example, Wal-Mart has worked with NCR Corp. to develop an ATM-like machine that enables users to get cash and money orders, pay their bills online and purchase phone cards. The machines are being rolled out to Wal-Mart's chain of 3,500 stores now.

The retailer is also working with an undisclosed partner to test the idea of using Wal-Mart's real estate to offer WiMax-based digital services.