FAYETTEVILLE, Ark. – Walmart’s board of directors has elected Greg Penner to serve as chairman. He succeeds Rob Walton, 70, who has served as chairman since 1992. Walmart said Friday that Walton will continue to serve on the board. Penner, 45, is Walton’s son-in-law, and he has served on the retailer’s board since 2008. Last
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
SHELTON, Conn. — Sales in the Vitamins, minerals and supplements (VMS) market rose 3% to about $11.8 billion in 2014, fueled mainly by mass retail chains, particularly Walmart, Costco and Rite Aid, according to the TABS Group. Also, 2014 marked the first time in eight years that Amazon and other online retailers saw a share drop in VMS category sales,
BENTONVILLE, Ark. — Walmart has made changes in its U.S. stores division’s management team that the company says are designed to streamline the leadership structure of the business. Mike Moore, who has been serving as executive vice president of Neighborhood Markets at Walmart U.S., will assume responsibility for Walmart’s more than 3,400 domestic Supercenters as
We at Kantar Retail believe that the most disruptive retail presence in the U.S. health care environment won’t be from a drug store — it will be from Walmart. Walmart wants to become the No. 1 U.S. health care provider and is now poised to challenge the slope of drug store growth. Today, Walmart is
BENTONVILLE, Ark. — An array of health, beauty care, food and beverage brands were in the spotlight at the Bentonville Film Festival, which ended this weekend. Co-founded and chaired by Academy Award-winning actress Geena Davis, the festival celebrates women and diversity in film and is the world’s only film competition to offer guaranteed theatrical, television, digital, video on
BENTONVILLE, Ark. — After eight months on the job as president and chief executive officer of Walmart U.S., Greg Foran has gained a clear view of where the retailer needs to improve and what it needs to do. Foran shared his views on the state of the nation’s largest retailer during its Strategic Update for
NEW YORK — In the wake of Target Corp.’s decision to join Walmart in raising its minimum pay rate for hourly workers, other retailers, including chain drug stores, may face pressure to do the same. The United Food and Commercial Workers International union reportedly plans to step up its efforts to organize workers at Walgreens
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
BENTONVILLE, Ark. — Walmart has changed its Savings Catcher price comparison tool so that deals offered by drug stores are no longer matched. The Savings Catcher tool, which is available on the Walmart smartphone app and on the retailer’s website, promises to make it easy for shoppers to compare Walmart’s prices with those offered by
NEW YORK — Executives from Walmart, Sam’s Club, Rite Aid, Walgreens and Family Dollar Stores made Black Enterprise magazine’s “50 Most Powerful Women in Corporate America” list. Featured on the publication’s February 2015 cover, the list was culled from thousands of candidates across industries — including the finance, pharmaceutical and retail sectors — and the
ALBANY, N.Y. — New York Attorney General Eric Schneiderman has ordered four retail chains to halt sales of store-brand herbal supplements after tests showed that the products typically don’t contain the ingredients advertised and in many cases were contaminated with unlisted ingredients. “This investigation makes one thing abundantly clear: The old adage ‘buyer beware’ may
Many of the boldface names in the retail and consumer products sectors belong to women. Helena Foulkes is president of CVS/pharmacy, the drug chain where Judy Sansone is chief merchant. Kathee Tesija holds the latter position at Target, and Michelle Gloeckler runs Walmart’s consumables business and heads up the company’s U.S. Manufacturing initiative. Delhaize America
NEW YORK — New York State Attorney General Eric Schneiderman has asked Walgreens, Walmart, Target and GNC to stop selling certain store-brand herbal supplements because DNA testing revealed discrepancies with ingredients listed on their labels. Schneiderman said Tuesday that he has sent cease-and-desist letters to the four retailers to halt sales of the supplements —
