Wal-Mart Will Shake Up Apparel Unit; Layoffs Set
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In a major revamping of its sluggish clothing business, Wal-Mart Stores will shut two divisions at its headquarters in Arkansas.
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Eduardo Castro-Wright, head of  Wal-Mart's U.S. operations, said the retailer is looking to  improve its returns by building fewer stores and stores that  are smaller.
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The world's largest retailer Wal-Mart has said it was pulling out of Germany after eight years and would sell its 85 hypermarkets to the Metro chain.
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Wal-Mart Stores Inc. will next year   curtail the options that it offers newly hired workers for   health-care coverage, promoting a low-premium, high-deductible   plan, The Wall Street Journal reported on Thursday.
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Wal-Mart Stores Inc.  said on Monday it will drop prices this week on more than 16,000 products across its stores as the world's largest retailer tries to reinvigorate sales for the back-to-school shopping season.
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Wal-Mart Stores Inc. continued its shuffling among merchandising and marketing executives, saying yesterday it will promote the top executive from its online subsidiary to head of domestic business strategy.
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Retailer Limited Brands Inc. has reorganized into three business groups for lingerie, personal care and apparel, forming an executive committee to oversee financial and operational management of the new structure.
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Wal-Mart, the world's biggest  retailer, is selling its underperforming German stores to the  country's leading retail chain Metro, marking a major retreat  that will cost it about $1 billion.
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Wal-Mart Stores Inc. said Monday it will spend $875 million to take full ownership of its money-losing Japanese subsidiary, Seiyu Ltd., as the U.S. retailer struggles to speed up management changes and reverse slumping performance in the world's second largest economy.
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The company announced the firings on Thursday along with a restructuring plan that included layoffs of about 3,500 employees.
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The apparel company said it would reorganize into two units and name Andrew Warren as its chief financial officer.
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Wal-Mart Stores Inc  will spend up to 100 billion yen ($878 million) to buy out minority shareholders in Japanese supermarket unit Seiyu Ltd  in an effort to turn around the loss-making chain.
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In the latest salvo in a long-running battle between Wal-Mart Stores Inc. and organized labor, the company said yesterday it will close a Canadian store where about 200 workers were close to winning the first-ever union contract from the world's largest retailer.
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Wal-Mart Stores Inc said on Thursday it is cutting prices on 15,000 more items this week as the world's largest retailer tries to boost sales heading into the crucial holiday shopping season.
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By Alex Pulaski, The Oregonian, Portland, Ore.  Sep. 5--The most significant corporate shake-up in two decades for  Oregon's largest private employer is expected to begin taking shape today.
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Weaker-than-expected holiday shopping forced Wal-Mart Stores Inc. on Saturday to cut its projected sales increase for November by more than half, an ominous announcement for retailers as their busiest time of year begins.
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The retailer's CEO steps down amid a shakeup in operations.