Walmart Stores, the world’s largest retailer, said Chief Executive Officer Michael Duke received compensation valued at $18.7 million last year, down from $19.2 million a year earlier.

Duke, 61, received incentive pay, which is tied to Walmart’s financial performance, of $3.85 million, down from $4.8 million a year earlier, according to a securities filing yesterday.

Sales by Walmart’s US stores open for at least 12 months have fallen for seven straight quarters.