Walmart Stores Inc.
Strong Walmart profit trumps bribery probe concerns
Walmart Stores Inc's profit and sales surpassed expectations as more people shopped at its established US stores and spent more, pushing shares up more than 4 percent despite ongoing internal and government probes into possible bribery.
The US retail giant earned USD3.74 billion, or USD1.09 per share in the first quarter, up from USD3.40b or USD97 cents a share a year ago. An earlier Easter and warmer weather contributed to the gains, the company said.
Walmart's first: Woman to head a business unit
Walmart Stores Inc on 20 Jan. named Rosalind Brewer as president and CEO of its Sam's Club warehouse retail chain, marking the first time that the world's largest retailer will have a woman and an African-American leading one of its three business units.
Brewer, 49, will replace Brian Cornell on 1 February, Walmart said. She most recently ran Walmart US operations on the East Coast.
Bharti Walmart enters S India
Bharti Walmart, the joint venture between Bharti Enterprises and Walmart Stores Inc for wholesale, business-to-business and cash-and-carry operations in India, has recently marked its entry in South India with the launch of its first Best Price Modern Wholesale cash-and-carry store in Vijayawada, Andhra Pradesh.
Walmart replaces executives in China
Wal-Mart Stores Inc. said it named replacements for two of its top executives in China who resigned earlier this month.
The world's largest retailer appointed Mario-Jose Medina as the head of its financial operations in China. Medina previously worked as the CFO of Wal-Mart Chile, the company said in a statement on Friday. He was hired in 2007 to be the CFO of Wal-Mart Puerto Rico.
The company also said that Del Sloneker, a former senior vice president, will become COO in China.
Walmart CEO pay fell last year
Wal-Mart Stores Inc. CEO Mike Duke's total compensation was USD18.7 million last year, down from USD19.2 million the prior year.
