Walmart chairman Rob Walton encouraged employees to “go for it,” and president and CEO Doug McMillon said the company would accelerate the pace of change during the company’s annual shareholders’ meeting June 6 in Fayetteville, Ark.
Walmart continues to envision flat same-store sales at its U.S. stores after reporting weaker than expected profits on weak U.S. sales results that were negatively affected by a winter that wouldn’t end.
Walmart knew fourth quarter results and its outlook would be weak so it gave investors Thursday morning something more substantial to digest by announcing plans to double the number of small format stores it will open this year and an increased omnichannel focus.
Walmart International president and CEO Doug McMillon was given the nod over Walmart U.S. president and CEO Bill Simon to succeed Mike Duke as president of Wal-Mart Stores, Inc., the company announced Monday morning.
In her new role as president and CEO of Walmart Canada, Shelley Broader will be tasked with addressing new competition from Target and other retailers expanding into Canada. Broader, who joined Walmart Canada in 2010 as chief merchandising officer, will assume her new role, effective immediately.