Walmart U.S.’ chief merchandising officer, Charles Redfield, will step down after one year in the position, reports Reuters. The decision comes at a time when inflation has caused the business to tighten its spending.
Commerce Department data found on Friday that U.S. retail sales fell more than anticipated in March. At last week’s investor meeting, the retailer said inflation continues to pressure its business, compelling customers to purchase lower-margin groceries.
Effective May 1, Redfield will assume an advisory role supporting the U.S. business, wrote CEO John Furner in a memo to associates. At this time a successor has not been named.
Redfield has worked for Walmart for 32 years, starting as a cashier at Sam’s Club, the retailer’s subsidiary. Before his current role, he led the U.S. food and grocery business. Full Story
Related: SpartanNash Hires Merchandising VP; SpartanNash Promotes Sisk