The newfound willingness of executives to publicly discuss retail crime and its impact on consumers is a welcome development. Walmart CEO Doug McMillon is the latest in a series of industry leaders — a group that includes Andre Persaud, Rite Aid’s chief retail officer, and Target CFO Michael Fiddelke — to address the problem. “Theft
BENTONVILLE, Ark. — Walmart reported stronger than expected second quarter sales and earnings on Tuesday, and revised its full-year earnings outlook. The company said it delivered strong top-line growth globally, partially driven by inflation. Total revenue was $152.9 billion, up 8.4%, or 9.1% in constant currency. Comp sales for Walmart U.S. grew 6.5%, and 11.7%
BENTONVILLE, Ark. — Walmart wrapped up its 2022 fiscal year on a resoundingly strong note, beating Wall Street’s expectations for fourth-quarter adjusted earnings, revenues and same-store sales. The flagship Walmart U.S. division, moreover, topped $100 billion in quarterly sales for the first time. “We had another strong quarter to finish off a strong year,” said
BENTONVILLE, Ark. — Walmart posted third quarter sales and earnings that topped expectations, and the company raised its outlook for the year. Comp sales at Walmart U.S. grew 9.2% versus the prior year period, with 15.6% increase on a two-year stack basis. Walmart U.S. eCommerce sales grew 8% for the quarter and 87% on a
BENTONVILLE, Ark. — Walmart reported record sales for its fourth quarter and year ended January 31. Revenues totaled $152.1 billion for the fourth quarter (an increase of 7.3%) and $559.2 billion (an increase 6.7%) for the year. The retailer also said it was stepping up its capital investments and will raise its average associate pay
BENTONVILLE, Ark. – Walmart made it official on Wednesday: Shoppers in Walmart and Sam’s Club outlets nationwide will be required to wear face coverings, effective July 20. “While we’re certainly not the first business to require face coverings, we know this is a simple step everyone can take for their safety and the safety of
BENTONVILLE — Walmart said Thursday that John Furner will become the president and chief executive officer of Walmart U.S., effective November 1. Furner, who currently serves as president and CEO of Sam’s Club, will succeed Greg Foran, who has led Walmart U.S. for five years. Foran is leaving Walmart to become CEO at Air New
WASHINGTON – The Business Roundtable on Thursday tapped Walmart president and chief executive Doug McMillon to serve as its next chairman. He will serve a two-year term starting January 1. McMillon will succeed Jamie Dimon, chairman and CEO of JPMorgan Chase, as chairman of the association of corporate chief executive officers, which aims to promote
BENTONVILLE, Ark. — Walmart this month said it would stop selling ammunition that can be used in military-style assault rifles and would call on Congress to increase background checks and consider a new assault rifle ban. It also said it would discourage its customers from openly carrying guns in its stores. Other retailers, including Walgreens
Doug McMillon, chief executive officer of Walmart, was in the news recently for all the right reasons. Bucking traditional business wisdom, he announced new restrictions on Walmart’s program around gun sales. No longer, he announced, would the nation’s largest retailer sell certain types of ammunition. More than that, customers would be discouraged from entering Walmart
BENTONVILLE, Ark. — Walmart said Tuesday that it will stop selling certain kinds of guns and ammunition, and will discourage customers in “open carry” states from openly bringing their firearms into Walmart stores. The move comes a month after a gunman entered a Walmart store in El Paso, Texas, shooting 48 people and killing 22
BENTONVILLE, Ark. — Walmart agreed to pay $282 million to settle federal allegations of overseas corruption, capping one of the biggest investigations ever under the Foreign Corrupt Practices Act, which makes it illegal for American corporations to bribe overseas officials. The company said Thursday it had entered into a global settlement with the U.S. Department