Mass Merchant

Matt Kistler is in a relatively new role at Walmart as SVP of merchandise execution and to explain what that means he is on the agenda for an upcoming event presented by Doing Business in Bentonville.

Kistler is scheduled to speak on February 8 at the DBB event which runs from 7 a.m. to 9 a.m. and will be held at the John Q. Hammons Center. He is expected to provide an overview of Walmart’s merchandise services unit that was created last year.

Bentonville, Ark. -- Wal-Mart Stores announced a series of  management changes that include an unexpected change in leadership at Sam’s Club, and a new chief information officer. The retailer said Sam's Club president and CEO Brian Cornell, 52, is resigning so that he and his wife can move back to the Northeast for family reasons. His departure comes as Sam’s has experienced strong sales growth.

SALISBURY, N.C. — Bottom Dollar Food announced grand opening dates for its first 14 stores in the greater Pittsburgh and Youngstown, Ohio, markets, with its first seven stores opening on Jan. 26. Seven additional stores will open on Feb. 9.

SAN FRANCISCO — Gap Inc. has announced that Tom Wyatt, president of its Old Navy brand, has resigned in order to take a position at another company outside of the apparel retail business, effective Feb. 3. The company has named two senior executives at Old Navy to lead the division, reporting to Gap Inc. chairman and CEO Glenn Murphy, while a formal search for a new brand president is under way.

San Francisco -- Gap Inc. announced Thursday that Tom Wyatt, president of Old Navy, will leave the chain, effective Feb. 3, 2012. The company named two senior Old Navy executives — Nancy Green, executive VP and chief creative officer, and Tom Sands, executive VP of stores and operations — to assume his duties while a search is held for a permanent replacement.

Wyatt, 56, was appointed president of Old Navy in 2008. He is leaving the chain to become the CEO of Portland, Ore.-based childhood education company Knowledge Universe.

SAN BRUNO, Calif. — Walmart is offering consumers the chance to get their product sold on Walmart.com and in Walmart stores in its new contest, "Get on the Shelf."

The nationwide contest is the latest announcement from @WalmartLabs and similar to the popular American Idol television show, contestants will create videos of their latest inventions and the public will vote online for the winners.

Minneapolis -- Target Corp. on Wednesday announced it is temporarily suspending its efforts to sell its credit-card-receivables portfolio until later this year or early 2013. The company also outlined plans to pay J.P. Morgan Chase & Co. about $2.8 billion, along with a make-whole premium, to retire financing from 2008. The payment, along with a premium, is expected to reduce its fourth-quarter earnings by about 8 cents per share.

MINNEAPOLIS — Target announced that it has temporarily suspended its efforts to sell its credit card receivables portfolio. The company said it remains committed to selling the portfolio on appropriate terms, but based on discussions with potential partners the company has determined that it is not in its best interests to finalize a transaction at this time.