Wal-Mart Shuffles Merchandising Team

By Sarah Nassauer 

Wal-Mart Stores Inc. is shuffling its merchandising team, those charged with stocking shelves of the world's largest retailer with a consistent stream of best-selling products.

In a staff memo Thursday, Wal-Mart U.S. CEO Greg Foran said a handful of executives would be given more responsibility. "These changes include both exporting talent internationally and expanding areas of responsibility for some of our most experienced Walmart U.S. merchants," he wrote in the memo, which was reviewed by The Wall Street Journal.

The Bentonville, Ark.- based retailer is in the midst of a massive overhaul of U.S. operations, investing heavily to make stores pleasant, efficient places to shop with consistently stocked shelves.

The company is also working to improve sluggish sales in some international markets, including China.

On Tuesday, the retailer reported a 15% drop in second-quarter profit, sending Wal-Mart stock sharply lower. Sales in existing stores increased 1.5%, the fourth quarterly increase after a long period of declines.

Marybeth Hays, senior vice president of home for Wal-Mart U.S., will become chief merchandising and marketing officer for Walmart China, replacing John Furner. Mr. Furner "will be returning to the United States in a role to be announced soon," according to the memo.

Walmart China's same-store sales fell 1.4% in the most recent quarter.

Ms. Hays's responsibilities will be shared among two current Bentonville-based merchants, Scott McCall and Terry Price. Rick Hays, vice president of hardware and paint, will become vice president of general merchandise for Sam's Club China.

Laura Wilkin, senior vice president of replenishment, will become senior vice president of flow strategy and systems innovation. Replenishment will fall to Scott Pleiman in addition to his current role as senior vice president of strategy, pricing, planning and modular development.

A Wal-Mart spokesman said the retailer often makes personnel changes and the moves announced Thursday weren't part of a cost-cutting effort.

Write to Sarah Nassauer at [e-mail]

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(END) Dow Jones Newswires

August 20, 2015 20:22 ET (00:22 GMT)

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