News

Walmart’s strategy of every day low prices underpinned by an every day low cost operating model will work everywhere in the world, according to international division president and CEO Doug McMillon.

Responding to a question about improving international financial returns, McMillon weighed in on the need to deliver on the strategy of every day low prices on a broad assortment and how that is the right approach internationally in large format stores.

See what Walmart president and CEO Mike Duke had to say about the company’s growth prospects. For a transcript of his comments, click here.



 

Beaumont, Texas -- Conn's Inc. said Monday its first-quarter net income more than doubled, and the retailer raised its outlook for the year.

The retailer earned $11.6 million for the three months ended April 30, compared with $4.4 million in the same period last year, which included some one-time costs for severance payments. Revenue increased 5% to $200.9 million from $192 million, as same-sales surged 17.8%.

CINCINNATI — Kroger has joined other food retailers in moving towards a policy of only offering products made from gestation-crate-free pigs. The company announced that it has begun informing suppliers of a new policy statement regarding gestation crates that are used to house pregnant sows.

ENGLEWOOD, Colo. — Sports Authority has launched its first-ever customer loyalty program, The League, which offers members 5% back on their total point balances of 100 points or more earned quarterly. 

Mahwah, N.J. -- Furnitureland South, in Jamestown, N.C., has selected TD Retail Card Services to develop and administer its new private label credit card.
 

Pittsburgh -- American Eagle Outfitters announced that Mary Boland has been appointed executive VP, chief financial and administrative officer, effective July 9.

Boland’s responsibilities will include finance, investor relations, merchandise planning and allocation, strategy planning, and other administrative functions. She joins AEO from Levi Strauss & Company where she most recently served as senior VP of finance for Global Levi’s.
 

New York -- Wal-Mart Stores is expected to face scrutiny from shareholders at its annual meeting on Friday in the wake of allegations of bribery  in Mexico.

The allegations are being investigated by the U.S. Department of Justice, the U.S. Securities and Exchange Commission and government agencies in Mexico. Wal-Mart is also conducting an internal probe.