Since CEO Doug McMillon took the helm last year, Wal-Mart Stores, Inc. (NYSE: WMT) has undergone a number of surprising changes. Some, such as the decisions to raise wages and to ask chicken suppliers to forgo antibiotic use, mark a decided shift from the company's historical strategy.

With the stock down over 15% year-to-date as guidance has been scaled back, it is fair to question whether Wal-Mart is past its prime. As competition from the likes of and others has increased, here are three ways that the world's largest retailer is revamping itself to grow into the future.

Jeremy Bowman has no position in any stocks mentioned. The Motley Fool recommends The Motley Fool owns shares of Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.