BENTONVILLE, Ark. (KNWA/KFTA) — Walmart’s Chief Merchandising Officer said he will step aside as the company prepares for tougher business days ahead, according to a report from the Wall Street Journal.
Charles Redfield will step down from his duties and move into an advisory role. Redfield has been with the company for 32 years, the report states.
Despite strong sales in areas like groceries, Walmart hit a slump in holiday sales items like clothing, toys, and electronics.
Now, company forecasts are predicting a tougher year according to a CNBC report. This comes as thousands of workers have already been laid off.