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.
Walmart Stores reported profit and sales lower than Wall Street expectations as the retail giant struggled against the payroll tax increase, delayed tax returns and an unseasonably cold spring impacting its U.S. sales.
First-quarter profits at Walmart exceeded analysts’ estimates as same-store sales increased 2.6% and the company said its strategy of low prices on a broad merchandise assortment is resonating again with shoppers.
The Network of Executive Women is honoring Mike Duke, president and CEO of Wal-Mart Stores, with its William J. Grize Diversity Hall of Fame Award, on June 28 during Women's Day at the LPGA in Rogers, Ark.
In an unexpected turn of events, Brian Cornell is stepping down as Sam’s Club president and CEO and will be replaced by Rosalind Brewer, who currently serves as president of the Walmart U.S. East business unit.
Walmart delivered a long-awaited same-store sales increase of 1.3% at its U.S. stores division in the third quarter and pointed to ongoing momentum for the holidays with comps guidance ranging from flat to up 2%.
Despite the absence of top line growth at Walmart’s U.S. stores division, second-quarter earnings grew 12.4% to $1.09 and came in a penny ahead of analysts’ estimates, which was enough for the company to narrow and increase the range of its full-year profit forecast.
The new small-format Walmart Express stores that opened earlier this month are an interesting concept with intriguing growth potential. But for the time being, and possibly for much longer, competitors need not concern themselves with the small stores.
After nearly four hours of music, cheering, celebrity appearances and brief presentations by senior executives, Walmart president and CEO Mike Duke wrapped up the company’s annual shareholders’ extravaganza Friday morning by sharing five priorities associated with serving what he called the next generation of customers.
BENTONVILLE, Ark. (June 29, 2010) — Bill Simon was given one of the biggest jobs in retail on June 29 when he was named president and CEO of Walmart U.S., assuming vice chairman Eduardo Castro-Wright’s responsibilities for the $258 billion division.