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.
BENTONVILLE, Ark. — The world’s largest retailer is officially changing its legal name from Wal-Mart Stores Inc. to Walmart Inc. Walmart said Wednesday that the change, which takes effect with the start of its new fiscal year on Feb. 1, is meant to reflect the company’s shift from an operator of stores to one that
BENTONVILLE, Ark. — Walmart reported better-than-expected comparable store sales gains in the third quarter. Walmart’s third quarter also include a strong performance by its online business, 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
WASHINGTON — The National Retail Federation will recognize Walmart president and chief executive officer Doug McMillon as “The Visionary,” an annual award honoring outstanding retail industry leaders The award will be presented to McMillon at the 2018 NRF Foundation Gala on Jan. 14 in New York City. “From risk-taking acquisitions like Jet.com to investing in