Walmart's U.S. Chief Marketing Officer Quits

Walmart’s chief merchandising officer for US operations is stepping down as the retailer faces a tougher year ahead, an internal memo shared to US associates Friday said, Ramishah Maruf reported for CNN.

Photo Insert: Redfield held his position at the retailer for a little more than a year, beginning in January 2022.

Charles Redfield, whose career at Walmart spanned 32 years, will leave on May 1 but remain in an advisory role. In a memo, Walmart US CEO John Furner said Redfield wants to spend more time with his family.

Redfield held his position at the retailer for a little more than a year, beginning in January 2022.

The leadership shakeup comes after America’s largest retailer warned it is facing a more challenging year ahead and will approach 2023 with caution, Nathaniel Meyersohn and Jordan Valinsky also reported for CNN.

Despite a strong holiday season, Walmart forecast slower sales and profit in February and holiday sales were fueled by groceries. Grocery prices rose 11.8% annually in December, pushing customers to seek affordable options.

However, sales were slower for traditional holiday products like toys, electronics and clothing – a sign that consumers are cutting back on discretionary spending.

Walmart did see an 8.3% sales increase in the quarter that ended January 31 at US stores open for at least one year. More customers are buying its private label brands and higher-income households are shopping at its stores, the company said.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic