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Doug McMillon

Walmart Express small-format stores to be shut

Walmart Express small-format stores to be shut

BENTONVILLE, Ark. — Walmart plans to close all of its Walmart Express small-format stores in the United States as part of a move to shut 269 stores worldwide. The retail giant said Friday that, after a review of the nearly 11,600 stores in its global portfolio, it aims to close 269 stores, including 154 U.S.

Investments in future to take short-term toll on Walmart earnings

BENTONVILLE, Ark. — Walmart is lowering the bar for earnings over the next several quarters as it invests in a longer-term rebound by improving the store experience and expanding e-commerce capabilities, and merging the two to offer a seamless experience for shoppers. The bulk of the investment will occur in the fiscal year ending in

Walmart understands times are changing

Walmart understands times are changing

Reaction to Walmart’s announcement in mid-October that the retailer’s sales and earnings would suffer as a result of its heightened commitment to its employees, its stores and its online presence dwarfed any negativity the company had experienced in nearly two decades. The retailer’s stock plunged — and the rub-off impacted the entire retail community. Indeed,

CVS, Walgreens take part in youth jobs coalition

CVS, Walgreens take part in youth jobs coalition

CHICAGO — CVS Health, Walgreens, Walmart and Target are among more than a dozen U.S.-based companies forming the 100,000 Opportunities Initiative, an employer-led coalition that aims to create pathways to jobs for America’s young people. The coalition has set a goal to engage at least 100,000 “Opportunity Youth” — 16- to 24-year-olds who face systemic

Walmart: ‘Our people make the difference’

FAYETTEVILLE, Ark. — The spotlight was on Walmart’s workers, or associates, at the company’s annual shareholders meeting early this month here. Walmart president and chief executive officer Doug McMillon, speaking before a crowd of 14,000 at the Bud Walton arena, told associates that “you are our heros,” and said they would be the key to

First-quarter results portend challenging year

First-quarter results portend challenging year

The fiscal first quarter of 2015 is in the books for many of the largest retailers, and the results tend to bear out the idea that the current year will be one of struggle and uncertainty despite signs that the economy is rebounding from the recession that plagued it so sorely in recent years. The

Walmart move on wages could have ripple effect

Walmart move on wages could have ripple effect

BENTONVILLE, Ark. — Walmart stunned the retail world when it announced recently that it would give raises to approximately 500,000 employees, increasing its base hourly pay rate above the federal minimum wage. In the wake of Walmart’s move, industry observers and analysts have been examining the possible implications for the rest of the industry. Through