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
BENTONVILLE, Ark. — Walmart is merging its U.S. store and digital supply chain teams in what the company calls a next step in its efforts to create a seamless omnichannel shopping experience for its customers. Greg Smith, executive vice president, supply chain at Walmart U.S., will lead the combined team, and will report jointly to
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
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
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
BENTONVILLE, Ark. — Walmart on Thursday reported first quarter net income of $3.84 billion as revenue rose 1% to $123.9 billion. U.S. same-store sales increased 3.4% in the 13 weeks ended April 30. That was the best performance by that metric in nine years, the company said. Net sales in the United States increased 3.3%.
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
BENTONVILLE, Ark. — Walmart announced on Thursday that the company had a net income of $1.71 billion, or 58 cents a share, in its third quarter on revenue of $124.89 billion. Earnings were fueled by brisk e-commerce sales, as the company continues to acquire online brands in categories such as apparel and home goods while
Despite all the attention that Amazon justifiably receives for the transformational effect it is exerting on mass market retailing, a case can be made that the company that is in the best position to meet the omnichannel needs of consumers over the long term is Walmart. Listening to president and chief executive officer Doug McMillon
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
BENTONVLLE, Ark. — Walmart saw sales rise for its 2018 fourth quarter and fiscal year, fueled by gains across its key divisions as well as robust e-commerce growth. Walmart on Tuesday reported $136.3 billion in revenue in its fourth quarter, an increase of 4.1% from a year earlier. Walmart’s fiscal 2018 sales totaled $500.3 billion,
BENTONVILLE, Ark. — Walmart has formed an alliance with Rakuten Inc., Japan’s largest online retailer. The Walmart-Rakuten partnership — designed to leverages each company’s strengths and assets to expand consumer reach and enhance the way customers are served in Japan and the United States — was announced Thursday night after Walmart president and chief executive
BENTONVILLE, Ark. — Walmart has promoted Judith McKenna, executive vice president and chief operating officer for Walmart U.S., to president and chief executive officer of Walmart International. The retail giant said Wednesday that McKenna will assume the new role on Feb. 1, succeeding David Cheesewright, who has led the international division — Walmart’s second-largest operating unit —
WASHINGTON — CVS Health’s Helena Foulkes has been tabbed as one of the keynote speakers at the National Retail Federation’s 2018 annual convention in Manhattan. Foulkes, executive vice president of CVS Health and president of CVS Pharmacy, will address the theme “empowering customers to make everyday health care better” in her presentation, scheduled for Jan.