Walmart U.S. Names Bill Simon as New CEO

Bill SimonBill Simon has been promoted to President and CEO of Walmart U.S. The company also said that Vice Chairman Eduardo Castro-Wright, 55, has been appointed President and CEO of and Global Sourcing, The change is probably a demotion for Castro-Wright who supervised most of the company's domestic operations.

The U.S. CEO move is probably due to the trouble that Walmart (WMT) is having in its home market. International sales are growing rapidly while American sales have stalled. Walmart has 3,700 locations in the U.S. which employ 1.7 million workers.

In the most recent quarter, which ended on April 30, the Walmart 10-Q shows that the world's largest retailer had global revenue of just over $99 billion and net income of $5.3 billion. Walmart U.S. sales were up very slightly to $62.3 billion and Sam's Club was flat as $11.6 billion. International sales rose sharply from $20.6 billion in the period a year ago to $25 billion in the most recent quarter. In the quarter, same store sales at Walmart U.S. stores were off .8%
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