Walmart names Judith McKenna to run international unit
NEW YORK (AP) — Walmart has picked Judith McKenna to run its international unit, a job that in the past has led to the CEO role at the retailer.
McKenna, who is currently chief operating officer, will start as CEO and president of Walmart's international business on Feb. 1. She will replace David Cheesewright, who is retiring.
Walmart's current CEO, Doug McMillon, and his predecessor Michael Duke ran the international unit before moving to the top job.
Walmart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.
What's in a name? For Wal-Mart Stores Inc., it's what's not in the name that counts.
The world's biggest retailer announced plans to change its legal name to Walmart Inc. on Feb. 1, the start of its next fiscal year. The tweak reflects how customers commonly refer to the company, and supports its aim to serve customers both in physical stores and online.
Walmart sees the future and it is digital
NEW YORK (AP) — Walmart is all about online, anticipating digital sales next fiscal year will rise about 40 percent and that it will double the number of U.S. curbside locations for online grocery shoppers at its stores.
But the world's largest retailer continues to scale back new store growth in the U.S., with plans to open only 25 in its fiscal year 2019, which ends January 2019. That compares with opening 230 new U.S. stores during fiscal 2016.
Walmart and the Walmart Foundation have committed up to $20 million in support of relief efforts in response to the severe weather impacting the Gulf region.
This includes $10 million focused on support of American Red Cross shelters and $2 million in support of the Hurricane Harvey Relief Fund at the Greater Houston Community Foundation, which was announced at a recent press briefing with Houston Mayor Sylvester Turner.
Wal-Mart commits up to $20 million to Hurricane Harvey relief effort
The world's largest retailer has committed up to $20 million to support Hurricane Harvey relief efforts in the Gulf Coast.
Arkansas-based Wal-Mart and its charitable arm, Wal-Mart Foundation, will provide $10 million to aid American Red Cross shelters and $2 million to support the Hurricane Harvey Relief Fund at the Greater Houston Community Foundation.
FAYETTEVILLE, Ark. (AP) — Walmart CEO Doug McMillon touted the company's investments in people and technology, but also said the company may have reached an employment peak and urged employees not to be afraid of automation.
The highest-paid CEOs by state
Here are the top-paid CEOs by state for 2016, as calculated by The Associated Press and Equilar, an executive data firm.
The survey considered only publicly traded companies with more than $1 billion in revenue that filed their proxy statements with federal regulators between Jan. 1 and May 1. It includes CEOs who have been in place for at least two years. Not every state had a publicly traded company headquartered there that was large enough to be included.
BENTONVILLE, Ark. (AP) — Wal-Mart saw online sales surge as it changed up its shipping offers, and drew more shoppers to its stores as well in the most recent quarter even as retail overall is more competitive.
The world's largest retailer said Thursday that sales at established stores rose for the eleventh straight quarter, and customer traffic rose for the tenth quarter in a row. That's a contrast with many rivals that saw both those figures drop.
Wal-Mart sets environmental plan as people seek green items
NEW YORK (AP) — Wal-Mart is laying out its environmental map for the next several years as it tries to satisfy customers who want green products at affordable prices.
The world's largest retailer says it will seek to reduce emissions in its own operations by 18 percent by 2025, and work toward adding no waste to landfills in key markets like Canada and the United States. It also plans to be powered by 50 percent clean and renewable energy sources.
Wal-Mart plans to slow new store openings, invest in online
NEW YORK (AP) — Wal-Mart Stores Inc. plans to slow its new store openings and pour more money into its online efforts, technology and store remodels, the company said Thursday.
The world's largest retailer completed its more than $3 billion buyout of the fast-growing online retailer Jet.com last month, showing how heavily it's willing to invest to boost online sales that totaled $13.7 billion last year — still just a fraction of its annual revenue.
Wal-Mart completes $3 billion-plus purchase of Jet.com
NEW YORK (AP) — Wal-Mart said Monday it has completed its deal to buy fast-growing Jet.com for $3 billion in cash plus $300 million in stock, an acquisition aimed at helping the world's largest retailer attract younger and more affluent customers to drive online sales.
Wal-Mart buying online retailer newcomer Jet.com
NEW YORK (AP) — Wal-Mart is buying fast-growing online retailer Jet.com for $3 billion in cash plus $300 million in stock, scooping up a newcomer that launched a year ago with the intention of challenging online leader Amazon.
The hefty price underscores how Wal-Mart is trying to compete more aggressively and effectively for younger and more affluent customers as it has seen its online business growth slow, even with big investments in distribution centers and expanding...
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