All eyes will be on Walmart’s new CEO Doug McMillon next week when the company reports worse-than-expected fourth quarter results on Thursday, and McMillon makes his first public comments since becoming CEO.
Currently president and CEO of Walmart's Europe, Middle East and Africa (EMEA) and Canada region, David Cheesewright has been promoted to president and CEO of Walmart International, the company's second largest operating segment.
Walmart International president and CEO Doug McMillon isn’t due to replace current Wal-Mart Stores president and CEO Mike Duke until February, but when he does the most pressing matter on a long list of priorities will be executing the company’s digital vision.
Walmart International president and CEO Doug McMillon was given the nod over Walmart U.S. president and CEO Bill Simon to succeed Mike Duke as president of Wal-Mart Stores, Inc., the company announced Monday morning.
Walmart managed to achieve its third quarter profit target despite reporting weaker than expected U.S. sales which prompted the company to issue a tepid outlook for fourth quarter sales at Walmart U.S. stores and Sam’s Club units.
Walmart said the head of its Indian operations left the company this week and named Ramnik Narsey, SVP of Walmart International, to serve as the interim leader for the company’s Indian business. To read more click here.
More framework and less freedom is how Walmart International president and CEO Doug McMillon described the subtle shift occurring within a $126 billion division where he is looking to drive improved performance with a “powered by Walmart” approach.
Walmart delivered a long awaited same-store sales increase of 1.3% at its U.S. stores division in the third quarter and pointed to ongoing momentum for the holidays with comps guidance in the range of flat to up 2%.
It may have taken longer than originally thought, but competition authorities in South Africa cleared the way for Walmart to move forward with its acquisition of Massmart, the company announced Tuesday.
Sales at Walmart’s international division increased 11.5% to $27.9 billion, aided to a large degree by a $1.3 billion currency exchange benefit, without which the sales increase would have been a more modest 6.2%.
If there was a bright spot to Walmart’s fourth-quarter results it was the international division where sales increased in every country, expansion surged and operating profits increased 9.7% to $5.4 billion on sales that increased 7.6% to $104.8 billion. Those results are on a constant currency basis that assumes foreign exchanges rates are consistent year over year and present a more accurate view of country-by-country performance.