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Report: Wal-Mart puts U.S. marketing under merchandising group
Bentonville, Ark. -- Wal-Mart Stores Inc. said Friday it has reorganized reporting relationships, putting its U.S. marketing team under the leadership of the chief merchandising officer. Marketing currently operates as a separate group and the move, said Wal-Mart, is designed to improve shopper communication.
The new plan will have U.S. chief marketing officer Stephen Quinn reporting to U.S. chief merchandising officer Duncan Mac Naughton. Before the change, Quinn reported to Bill Simon, Wal-Mart U.S. president and CEO.
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Day two of JCP event details financial outlook
NEW YORK — The second day of JCPenney’s launch event in New York City revealed the retailer’s long-term financial plans to generate profit and shareholder value while reinventing itself.
COO Mike Kramer outlined the company's financial outlook, including an enhanced profit formula derived from the simplified business model unveiled the day before, based on a new three-tier pricing strategy, newly organized promotions and an overhaul of the merchandise assortment.