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BENTONVILLE, Ark. — In the eight months since becoming president and chief executive officer of Walmart’s U.S. business, Greg Foran has made 116 unannounced visits to Walmart stores for a firsthand look at the retailer’s "core operations."
In the eight months since becoming president and chief executive officer of Walmart’s U.S. business, Greg Foran has made 116 unannounced visits to Walmart stores for a firsthand look at the retailer’s "core operations."
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| Greg Foran |
"I see lots of opportunities to get the basics better," Foran said on Wednesday. Walmart can do better at keeping merchandise in stock, he said, as well as guaranteeing that produce is fresh, helping customers navigate store aisles and training employees.
But the company has programs in place to address each of these situations, Foran and other Walmart U.S. executives said during a briefing of Wall Street analysts on changes initiated since Doug McMillon took over as the company’s president and CEO in early 2014.
"We want this year to be a year of improving our stores so that by holiday season, we’re ready," Foran said.
Prices will get much of the emphasis, he said. "We have pockets of leadership, but in the more competitive markets our advantage is too small. We’ve lost some leadership and strayed from our everyday-low- price principles."
Walmart is working to lower costs as it makes significant investment in higher wages and increased training for employees and builds out its e-commerce platform. Walmart is in a stronger position than any retailer in the world to integrate its physical stores with its digital marketing platform, Foran said. "The big prize for us in the future is the integration of digital and physical. We need to develop the tools and processes to get there."
Foran vowed that neither selection nor service would be compromised as Walmart renews its push on low prices. For some customers, he said, the shopping experience is as important as price.
"I believe Walmart is the greatest retailer in the world, and I am truly honored that it’s in our DNA to be always looking for better ways to serve customers," Foran said.
