BENTONVILLE, Ark. — Walmart said Thursday that it will boost the starting wage rate for its hourly associates in the U.S. to $11 an hour. The raise — Walmart’s third increase in its minimum pay rate in three years — is part of a package of benefit improvements made possible by the recent tax reform
BENTONVILLE, Ark. — When Doug McMillon, who started his business career as an hourly worker at a Walmart distribution center in 1984, was selected to be president and chief executive officer of the company four years ago, industry observers expressed confidence that he would preserve the ethos established by Sam Walton, the retailer’s legendary founder.
WASHINGTON — Walmart president and chief executive officer Doug McMillon will take the stage at the National Retail Federation’s ‘Big Show’ conference in New York next month. He will join NRF president and CEO Matthew Shay at 3 p.m on January 14 for a discussion of strategies retailers can employ to survive in today’s environment
BENTONVILLE, Ark. — The world’s largest retailer is officially changing its legal name from Wal-Mart Stores Inc. to Walmart Inc. The change, which takes effect with the start of the company’s new fiscal year on February 1, is meant to reflect the company’s shift from an operator of stores to one that increasingly lets its
BENTONVILLE, Ark. — Walmart reported better-than-expected comparable store sales gains in the third quarter. The company’s online business was also strong, with net e-commerce sales increasing 50% in the quarter. “We are pleased with the strong results in the quarter across each of our business segments,” Walmart president and chief executive officer Doug McMillon said,
HOUSTON — In response to the devastation in the Texas Gulf Coast region, Walmart and the Walmart Foundation are donating up to $20 million to support Hurricane Harvey relief efforts. Walmart said Wednesday evening that its support includes $10 million for American Red Cross shelters and $2 million for the Hurricane Harvey Relief Fund at
BENTONVILLE, Ark. — Walmart president and chief executive officer Doug McMillon has reprimanded President Donald Trump over his response to the violent protests in Charlottesville, Va. In a statement posted Tuesday on a Walmart website, McMillon wrote, “The role we play in communities around the country to build a more diverse and inclusive society is
FAYETTEVILLE, Ark. — Walmart has “started to invent the future of shopping again,” president and chief executive officer Doug McMillon said at the company’s annual shareholders meeting this month. “Together, we’re building a new Walmart,” McMillon told more than 14,000 associates from the U.S. and around the world at the University of Arkansas. “We’re going
BENTONVILLE, Ark. — Walmart reported strong first-quarter sales that included gains in its U.S. business, which got a lift from aggressive pricing that lured more shoppers into its stores. Store visits rose 1.5% in the quarter, a period in which many retailers saw fewer shoppers. Heavy discounting contributed to a slight decline in average basket
Who are the outstanding retail executives of the year? In years past, this determination would be a difficult task, because so many capable executives would be in contention. This year, not so much — not, at least, if individual success is measured by the success of the company. As we’ve pointed out, 2016 will not
BENTONVILLE, Ark. — Following recent reports that a deal was in the works, Walmart announced that it’s acquiring online retailer Jet.com Inc. in a transaction valued at $3.3 billion. Walmart said Wednesday that under the agreement, it will buy Jet for about $3 billion in cash and $300 million in Walmart shares. Some of the
FAYETTEVILLE, Ark. — Walmart used its 2016 shareholders meeting to drive home the message that the customer is boss and the key to the retailer’s ability to grow. “Our mission is clear,” Doug McMillon, Walmart’s president and chief executive officer, said at the June 3 meeting. “We save customers money so they can live better.”