FINANCE

Wal-Mart Names New Chief of International Division

BY CSA STAFF

Bentonville, Ark. Wal-Mart Stores Inc. on Wednesday named the manager who leads its Sam’s Club division as the new chief of Wal-Mart’s international stores. Doug McMillon, 42, will follow Mike Duke as president and chief executive of the international division. Duke has been named the new Wal-Mart president and CEO, replacing Lee Scott.

Duke and McMillon will assume their new duties Feb. 1.

“It is exciting to promote a long-term associate to lead our second largest business,” Duke said in a statement. “Doug began his Wal-Mart career as an hourly associate, unloading trucks at a distribution center, while he worked his way through college. In his 18 years with the company, Doug has learned the business from the bottom up, with leadership roles in all three operating divisions.”

Duke said he expects McMillon to enhance the company’s growth overseas and to “export our culture.”

Wal-Mart said it will name a leader for the Sam’s Club division at a later date.

About a quarter of Wal-Mart’s revenue comes from its international division, which operates in 12 countries and Puerto Rico. Its largest presence is in Mexico, with more than 1,000 stores.

Wal-Mart’s international division had $90.6 billion in revenue for fiscal 2008, up 17.5% from the year before.

The company has been growing in China and has entered India through a joint venture with Bharti Enterprises for a wholesale operation.

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MacDowell named president of Charming Outlets

BY CSA STAFF

BENSALEM, Pa. Charming Shoppes has announced that MaryEllen MacDowell has been appointed president of Charming Outlets, effective immediately. She succeeds Jeffrey Elliott, who has left the company to pursue another career opportunity.

MacDowell will have leadership responsibility for the company’s Lane Bryant Outlet and Petite Sophisticate Outlet retail chains, and will report to Joseph Baron, EVP and COO of Charming Shoppes.

MacDowell has served as SVP and general merchandise manager of apparel and accessories at the company’s Lane Bryant brand since 2007. From 2002 to 2007, she was the VP and divisional merchandise manager for plus sportswear, dresses, and swimwear for the company’s Fashion Bug brand.

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Best Buy to sell ‘refreshed’ iPhone 3Gs

BY CSA STAFF

MINNEAPOLIS Best Buy announced that it is the first retailer to offer refreshed Apple iPhone 3Gs at store locations nationwide.

The Refreshed iPhone 3G is available at 350 Best Buy Mobile stores at $149 for the 8GB model and $249 for the 16G model, both require a two-year service contract. New iPhone 3Gs currently retail for $199 (8G) and $299 (16G) at Best Buy Mobile.

“The refreshed iPhone is a great example of the depth of our offering, and clear evidence of why Best Buy is the best place to purchase a mobile phone,” said Scott Moore, VP of marketing for Best Buy Mobile. “Where else can you get everything you need to make sure your phone can be utilized to its fullest.”

Best Buy said the refreshed iPhones will expand to all U.S. Best Buy stores that offer AT&T by the end of January.

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