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Walmart Posts U.S. Comp Sales Decline, Lowers Forecast

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Bentonville, AR—Walmart booked mixed third-quarter results, with a drop in comparable U.S. sales, increased group profits and an “improvement” in domestic apparel sales. For the quarter ended Oct. 25, U.S. comparable store sales fell 0.3%, hurt by what the retail giant described as a “competitive” retail environment. Traffic was down …

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Walmart Cuts Full Year Profit Forecast as Shoppers Cut Back

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

Bentonville, AR—Confirming a concern that middle income consumers have been reluctant to spend on discretionary purchases, Walmart today reported a modest profit and sales gain and lowered its full year forecast. Said CFO Charles Holley: “The retail environment remains challenging in the U.S. and our international markets, as customers are …

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Feds to Investigate Walmart over Mexican Bribery Charges

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Washington—The U.S. Justice Department has reportedly launched a criminal investigation of Walmart regarding alleged $24 million in bribes that the retail giant’s representatives paid to local officials in Mexico to speed up opening stores there in early 2000s. According to a Bloomberg News report, the Justice Department is “investigating potential …

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Walmart Invests $12 million to Help Women Entrepreneurs in Latin America, Caribbean

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Cartagena, Colombia—U.S. Secretary of State Hillary Clinton announced that a new public-private partnership, which includes Walmart, that will aim to help train and nurture women entrepreneurs in Latin America and the Caribbean. Clinton, who was in Cartagena with President Barack Obama and U.S. officials attending the Summit of the Americas, …

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Executive Changes: Walmart, Old Navy, JCPenney, Lane Bryant, Laura Ashley

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People

 Rosalind Brewer to Head Sam’s Club; Internal Promotions at Walmart Bentonville, AR—Rosalind Brewer, who has been president of Walmart U.S.’ 1,600-store Eastern business unit, is being named to succeed Brian Cornell, president/ceo of Sam’s Club, who left his position for family reasons. Brewer , 49, who previously was an executive …

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Walmart’s U.S. Sales Rebound Despite Q3 Profit Miss

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Bentonville, AR—While Walmart’s third quarter profit just missed expectations, the retail giant reported some good news about its U.S. division: comparable store sales increased 1.3%, ending nine quarters of declines. Only last month, executives at U.S. Walmart told investors that turnaround initiatives begun last year seem to be coming to …