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Doug McMillon

John Furner named to lead Walmart U.S.

John Furner named to lead Walmart U.S.

BENTONVILLE — Walmart said Thursday that John Furner will become the president and chief executive officer of Walmart U.S., effective November 1. John Furner 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

Retailers take action following gun violence

Retailers take action following gun violence

NEW YORK — With mass shootings becoming an all too frequent occurrence in American life, the debate over gun control continues to be a hot-button topic for the nation. As many politicians, including presidential candidates, as well as a growing number of citizens, call for tighter gun control measures, many retailers are adhering to the

Walmart pilot seeks to shift the health care paradigm

Walmart pilot seeks to shift the health care paradigm

When Sam Walton opened the first Walmart store in Rogers, Ark., in 1962, he set in motion an enterprise that fundamentally transformed the way Americans shop, giving them convenient access to high-quality consumer products at the lowest possible price. Now, 57 years later, the company has embarked on a pilot test to apply the principles

Doug McMillon to chair Business Roundtable

Doug McMillon to chair Business Roundtable

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

Walmart reports strong Q2 results

Walmart reports strong Q2 results

BENTONVILLE, Ark. — Walmart reported on Thursday a second-quarter net income of $3.6 billion compared with a net loss of $861 million a year earlier. Revenue rose 1.8% to nearly $130.4 billion. Operating income, on a constant currency basis, declined 2.4% to $5.6 billion.“Customers are responding to the improvements we’re making, the productivity loop is

Walmart reaches agreements with DOJ and SEC

Walmart reaches agreements with DOJ and SEC

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

Walmart wraps up shareholders’ week

Walmart wraps up shareholders’ week

FAYETTEVILLE, Ark. — Walmart wrapped up its annual shareholders’ week activities on Friday with a celebration of the company’s associates as “extraordinary people doing extraordinary things.” Brett Biggs, executive vice president and chief financial officer, credited Walmart’s 2.2 million associates worldwide with helping fulfill founder Sam Walton’s vision for Walmart as a merchant serving the

Walmart names Kumar chief technology officer

Walmart names Kumar chief technology officer

BENTONVILLE, Ark. — Walmart has appointed tech industry veteran Suresh Kumar to a new chief technology officer and chief development officer role position, reporting directly to president and chief executive officer Doug McMillon. Suresh Kumar Kumar brings more than 25 years of technology leadership experience — including executive positions at Google, Microsoft, Amazon and IBM

Walmart posts strong revenue growth for Q4

Walmart posts strong revenue growth for Q4

BENTONVILLE, Ark. — Walmart on Tuesday reported robust profit and revenue figures for the holiday quarter, citing strength across a range of product categories and a 43% surge in digital sales. Revenue was up 1.9% to $138.8 billion in the fiscal fourth quarter. Excluding currency fluctuations, year-on-year revenue growth was 4.2%. Walmart U.S. posted its

Walmart’s earnings rise as e-commerce sales jump 40%

Walmart’s earnings rise as e-commerce sales jump 40%

BENTONVILLE, Ark. — Walmart on Thursday reported fiscal second quarter earnings and sales that topped analysts’ forecasts, as digital sales ticked higher and more shoppers visited its stores and spent more per visit. Same-store sales in the United States increased 4.5%, the retailer’s strongest comp growth in more than a decade. Sales were particularly vigorous

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