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MarketScreener Homepage  >  Equities  >  Nyse  >  Walmart Inc.    WMT

WALMART INC.

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Walmart : Revamps Finance Teams as It Integrates Jet.com

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07/20/2019 | 01:42pm EDT

By Mark Maurer

Walmart Inc.'s finance executives are undergoing a shuffling as the world's biggest retailer absorbs Jet.com into the company's digital operation.

The Bentonville, Ark., company said in an internal memo that it would merge the U.S. e-commerce finance group into the greater U.S. finance team.

Michael Dastugue, the company's U.S. finance chief, will lead the combined U.S. segment finance team in his current role, said the memo, which was shared with The Wall Street Journal. Steve Schmitt, the finance chief for Sam's Club, will be CFO for the U.S. e-commerce division.

Mr. Schmitt will succeed Jeff Shotts, who will run the company's U.S. marketplace business, the memo said. Brandi Joplin, the chief accounting officer for Sam's Club, will succeed Mr. Schmitt as Sam's Club's CFO.

A spokesman for Walmart declined to comment beyond the memo, which was sent to employees from Walmart's U.S. Chief Executive Greg Foran, Sam's Club CEO John Furner and Walmart U.S. e-commerce CEO Marc Lore.

The shuffling is intended to "support the business in a more integrated and customer-centric manner," the memo said. The company also announced changes to its supply-chain management.

The combined supply-chain team will unite the heads of grocery, e-commerce, fleet operations and other functions, the memo said.

Greg Smith, the executive vice president of supply chain for Walmart U.S., will lead the combined team. Nate Faust, the head of the e-commerce fulfillment process, will take an unnamed role within the company, the memo said.

Walmart has been working to integrate its store and e-commerce operations in recent years. The company said last month it would fold the Jet.com staff into the rest of its business. Walmart paid $3.3 billion in 2016 for the online seller of groceries, clothes and electronics, whose main offices are in Hoboken, N.J.

As Walmart's e-commerce arm matures, it is increasingly difficult for the company to distinguish how to allocate labor across its divisions, said Greg Melich, an analyst at Evercore ISI who follows the retailer. "The e-commerce business is reaching the scale of integration on a day-to-day basis with the stores," he said. "To run it in silos makes less and less sense."

Walmart extended its four-year streak of sales growth with a 3.4% increase at U.S. stores and websites operating at least 12 months during the quarter ended in April.

Walmart shares closed Friday at $113.90, down 0.7%.

Write to Mark Maurer at mark.maurer@wsj.com

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Financials (USD)
Sales 2020 524 B
EBIT 2020 21 634 M
Net income 2020 14 227 M
Debt 2020 56 056 M
Yield 2020 1,89%
P/E ratio 2020 22,7x
P/E ratio 2021 22,5x
EV / Sales2020 0,73x
EV / Sales2021 0,70x
Capitalization 325 B
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Technical analysis trends WALMART INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 111,73  $
Last Close Price 113,90  $
Spread / Highest target 9,75%
Spread / Average Target -1,90%
Spread / Lowest Target -17,5%
EPS Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Gregory B. Penner Non-Executive Chairman
Brett M. Biggs Chief Financial Officer & Executive Vice President
Jeremy King Chief Technology Officer & Executive VP
Clay Johnson Enterprise Chief Information Officer & EVP
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