Walmart Seeks to Revamp Fresh Food Programs with Hundreds of New Management Hires
BENTONVILLE, AR - On the heels of a mixed-at-best fourth financial quarter for 2015, it has been revealed that Walmart has a new plan to improve its fresh food programs by creating hundreds of additional management positions at its U.S. stores.
Already with 30 newly hired field managers on the books, people familiar with the matter told Reuters that Walmart has plans to hire hundreds more over the next three years. Each new manager's job will be to take on 10 Walmart stores and train workers there to take steps to improve the fresh food offerings in stores, the people said.
The plan was first revealed at a non-public annual meeting of suppliers last week in Indianapolis, the people told Reuters.
Walmart's Senior Director of Communications, Lorenzo Lopez, confirmed that the company was in the process of hiring managers, explaining that it was in an effort "to help ensure quality and consistency in our fresh operations." He did not comment on the number of people who would be hired.
Walmart’s Q4 2015 financial report saw consolidated revenue declined 1.4 percent to $129.7 billion and the company cutting its sales outlook, sending its shares down nearly 4 percent, according to CNBC.
The retailer posted fourth-quarter earnings per share of $1.49, compared with $1.61 a share in the year-earlier period. Walmart also reported thats its operating income fell 16 percent to $6.6 billion during the quarter.
"We are seeing momentum in our Walmart U.S. business as we continue to lap positive comps, and our international business is healthy and growing,” said Walmart President and CEO Doug McMillon in a statement. “We are pleased with fundamental trends that are allowing us to improve our stores, add critical capabilities and deepen our digital relationships with customers. Our initiatives are making it simpler and more convenient for customers to shop at Walmart."
Other highlights from Walmart's Q4 2015 financial report include:
- Adjusted EPS from continuing operations was $1.49.
- Comp sales at Walmart U.S. were positive for the sixth consecutive quarter, up 0.6%, driven by the fifth consecutive quarter of positive traffic.
- Walmart International net sales were $32.7 billion on a reported basis. On a constant currency basis, net sales were $37.4 billion, an increase of 3.3%.
- Globally, on a constant currency basis, e-commerce sales and GMV increased approximately 8%.
Walmart's earnings came just one month after the company said it will close 269 of its locations, affecting anywhere up to 16,000 of its employees.