Wal-Mart Stores Inc's (WMT.N) chief executive kicked off a two-day meeting by telling Wall Street that the world's largest retailer has more room to grow, both at home and internationally.

"I am competitive by nature and I want to win," CEO Mike Duke said in his opening remarks on Wednesday afternoon. "There is no doubt in my mind that Wal-Mart will continue to win in retailing all around the world."

Wal-Mart is meeting with analysts on Wednesday and Thursday. Its shares were up 2 cents to $51.72 soon after the meeting began.

Duke said the company's expenses should grow less than sales. He said that Wal-Mart will work to improve its expense structure by driving more productivity and efficiency.