Despite the absence of top line growth at Walmart’s U.S. stores division, second quarter earnings grew 12.4% to $1.09 and came in a penny ahead of analysts’ estimates, which was enough for the company to narrow and increase the range of its full year profit forecast.
Senior leadership within Walmart’s merchandising organization continues to undergo a transformation, as the retailer’s chief merchandising officer Duncan Mac Naughton on Friday announced another round of personnel moves.
Outdoor retailer Cabela’s has announced plans to open one of its signature stores in Rogers, Ark., next summer, continuing an influx of retail development that has steadily elevated the region’s shopping options.
The ongoing emphasis on expense reduction and every day low prices saw Walmart curtail its promotional activity during July, according to the last monthly report from Market Track examining promotional activity at the nation’s leading retailers.
The retirement of veteran merchant John Westling was announced internally at Walmart last Friday, and in typical fashion his departure has created new opportunities for other executives as responsibilities are reallocated.