Wal-Mart Stores Inc. executives, speaking at a company meeting this month, said its store shelves need to be better stocked with merchandise and that resolving the matter could be a $3 billion opportunity.
Wal-Mart Stores Inc, already struggling to woo shoppers constrained by higher taxes, is “getting worse” at keeping shelves stocked, the retailer’s U.S. chief told executives, according to minutes of an officers’ meeting obtained by Bloomberg News.
Wal-Mart Stores Inc.’s board, as it prepares for new leadership at the company, has identified two internal candidates to succeed Chief Executive Officer Mike Duke, according to a person familiar with the situation.
Wal-Mart Stores Inc.’s U.S. chief Bill Simon urged companies to create domestic manufacturing jobs, saying the effort is good for businesses as it cuts costs by having goods produced closer to where they are consumed.
With an estimated 140 million Americans predicted to shop this weekend, retailers are bolstering security, deploying Segway patrols and putting on live music to distract shoppers and avoid the deal-hunting scrums that can foster Black Friday tramplings.
Wal-Mart Stores Inc. said fourth- quarter profit will be at or below the low end of its forecast because of extra costs in Brazil as well as lower food-stamp benefits and winter storms that hurt U.S. sales.