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
BENTONVILLE, Ark. — Walmart’s U.S. business accelerated in the fiscal 2017 fourth quarter, with domestic same-store sales posting their biggest increase since 2012. The retail giant said Tuesday that Walmart U.S. same-store sales rose 1.8% year over year in the fourth quarter ended Jan. 31, with the gain fueled by a 1.4% uptick in traffic.
Going into the new year, several key personnel questions await answers, foremost among them the age-old problem of determining who, in 2017, will emerge as the most influential senior staffers at America’s drug chains. The determination is made more difficult by the fact that, as of this writing, Walgreens’ acquisition of Rite Aid remains unresolved.
BENTONVILLE, Ark. — Walmart reportedly is realigning its top management to have several executives oversee both online and in-store operations. Chief marketing officer Tony Rogers will now take on online and digital marketing efforts, including for Jet.com, according to an internal company memo cited by The Wall Street Journal. Jeremy King, head of the WalmartLabs
BENTONVILLE, Ark. — Walmart’s third quarter earnings beat analysts’ expectations, but its sales fell slightly short, dampened by food deflation and unfavorable foreign exchange rates. The company earned $3.03 billion, or 98 cents a share, during the quarter, down from $1.03 per share a year ago. Analysts, on average, had projected earnings of 96 cents
BENTONVILLE, Ark. — Walmart’s capital spending plan for next year calls for fewer new brick-and-mortar stores, and an accelerated e-commerce push. The announcement of the retailer’s spending priorities came during Walmart’s annual meeting with the investment community. The company also said that it expects its earnings to be flat in fiscal 2018, which starts in
BENTONVILLE, Ark. — Walmart has finalized its $3.3 billion acquisition of e-tailer Jet.com. The discount store giant said late Monday that with the closing of the deal, which was announced in early August, Jet.com founder and chief executive officer Marc Lore becomes executive vice president at Walmart and president and CEO of Walmart e-commerce in
BENTONVILLE, Ark. — Walmart earned $1.07 per share in the fiscal second quarter, slightly lower than its $1.08-per-share profit a year ago but above Wall Street’s consensus forecast of $1.02. The retail giant said Thursday that revenue grew 0.5% to $120.8 billion as the company notched its biggest same-store sales increase in four years. Walmart
BENTONVILLE, Ark. — Following recent reports that a deal was in the works, Walmart announced that it’s buying 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
BENTONVILLE, Ark. — Walmart’s investments in its people and in technology are paying off as the giant company seeks to “reimagine retail” and find new opportunities for growth. Speaking to an audience of 14,000 people — including shareholders and employees from around the world — at the company’s annual meeting earlier this month, president and
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 Walmart annual shareholders meeting. “We save customers money so they
BENTONVILLE, Ark. — Walmart has repositioned its board of directors as the company pushes ahead with its strategic plans. Walmart said late Wednesday that going forward its board will have 12 members, down from the current 15. Plans call for current directors Aida Alvarez, Roger Corbett, Mike Duke and Jim Walton to not stand for
BENTONVILLE, Ark. — Tom Coughlin, a legendary retailing executive and former vice chairman of Walmart, died April 1 at the age of 66. According to a Reuters report, Coughlin had been in the intensive care unit of a hospital for several days. Coughlin began his Walmart career in 1978 in the retailer’s security department. He
BENTONVILLE, Ark. — Walmart reported decreased net earnings for its fiscal 2016 fourth quarter and full year, with adjusted earnings per share above Wall Street’s consensus forecast. The retail giant said Thursday that for the fourth quarter ended Jan. 31., net income fell 7.9% to $4.57 billion, or $1.43 per diluted share, from $4.97 billion,