Walmart exec: Our stores aren’t good enough — seeks to increase market share

Walmart exec: Our stores aren’t good enough — seeks to increase market share

Walmart President Greg Foran has visited more than 100 stores and concluded that cleanliness, stocking, and management all need to improve.

Walmart President and Chief Executive Officer Greg Foran has taken a tour of a handful of the chain’s 4,500 stores, and he hasn’t liked what he’s seen in terms of cleanliness, management, and stocking — among other things — a new report states.

Foran has averaged 15 in-store visits per month since being promoted in August, and his findings were heavily featured in a 90-minute presentation and Q-and-A session in New York City that outlined where the company wants to see improvement in its domestic stores, according to an Arkansas Online report.

Foran said his top priority is to grow sales and market share for the company. He has made 116 visits in the last eight months to numerous store locations, causing him to conclude that there need to be improvements in customer experience, the availability of inventory, the layout and design of stores, and the blending of physical and digital resources, according to the report. Also, the stores need to do a better job of responding to customer wants by stocking the right products and improving on the relationship between the stores and the home office of the Bentonville, Ark.-based company.

The company wants the changes in place in time for customers to notice around the Christmas shopping season, the busiest and most profitable time of year for retailers.

The retail giant is looking to invest almost $1 billion in employee initiatives, including wage increases. The company pulls in revenues of about $279 billion in U.S. sales.

Analysts say that Walmart is starting to acknowledge that while its low prices matter, it’s not the be-all end-all for shoppers in this day and age. Company executives say that Walmart is currently in investment mode and seeking to make improvements that will help put the company on a course for success over the long haul.

One analyst said that Walmart is returning to “retailing 101” in some respects, according to the report.

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