Wal-Mart’s Sam’s Club promotes its chief merchandising officer to CEO
January 6, 2017 11:46 AM
Sam’s Club, the warehouse format of Wal-Mart Stores Inc., will have a new CEO next month.
Wal-Mart has named John Furner executive vice president and CEO of Sam’s Club, effective Feb. 1, according to a filing with the Securities and Exchange Commission. Furner replaces Rosalind Brewer, who announced her retirement Thursday.
Furner has been executive vice president and chief merchandising officer of Sam’s Club since October 2015. He previously held several roles with the retailer, including chief merchandising officer of Walmart China from January 2013 to October 2015; senior vice president, Home & Apparel and Global Sourcing; and senior vice president, Proprietary Brands and Merchandising Solutions. He joined Wal-Mart in 1993 as an hourly store employee.
Brewer on Thursday told Wal-Mart, No. 4 in the Internet Retailer 2016 Top 500 Guide, that she intends to retire as CEO of Sam’s Club effective Feb. 1, according to the SEC filing. Brewer has been with Wal-Mart since 2006 and became CEO of Sam’s Club in February 2012, replacing Brian Cornell, who resigned. Prior to Sam’s Club, Brewer worked for healthcare products manufacturer Kimberly-Clark Corp. Cornell currently is CEO of Target Corp. and was CEO of PepsiCo Americas Foods between his Sam’s Club and Target positions.
In November, when Wal-Mart reported its earnings for the fiscal third quarter ended Oct. 28, the retailer said e-commerce contributed 0.6% of the 1.4% same-store sales growth for Sam’s Club. Wal-Mart also reported that sales at its 11 e-commerce sites Worldwide, including SamsClub.com, grew 20.6% in its fiscal third quarter, and that gross merchandise value—the total value of goods sold on its e-commerce sites—increased 16.8%. Total revenue was $118.179 billion, an increase of 0.7% from $117.408 billion in the year-ago quarter. On a constant-currency basis, which corrects for the negative impact of the stronger dollar on the foreign sales of U.S. corporations, Wal-Mart’s sales increased 2.5%.