News Wal-Mart has lowered its full-year earnings forecast reflects more than the drag of store closures as it adjusts its international portfolio. The US retail giant is struggling to grow its top-line at home and...
Wal-Mart has said its full-year earnings could miss previously announced forecasts.
Doug McMillon may have followed Mike Duke's path at Wal-Mart with the move from head of international to the CEO's office and, in some ways, he has some foundations on which to build the next stage of the retailer's growth. But he faces some significant challenges ahead.
Doug McMillon, the chief executive of Wal-Mart's operations outside the US, is to become the CEO of the world's largest retailer, it said today (25 November).
Wal-Mart Stores outlined its strategy for the coming fiscal year at its annual investment community meeting yesterday (16 October). The world's largest retailer raised its capital expenditure forecast in the US while scaling back its international investment plans. Significantly, the company said it would close under performing stores in Brazil and China and reduce store openings in Mexico and India - possibly reflecting concerns over the growth outlook in emerging markets. Katy Askew reports.
© Copyright Verdict Media Limited 2021
