date:Jul 28, 2014
t forecast for the current quarter also came in lower than analysts estimates.
By naming Foran, a 53-year-old New Zealander who previously ran the chains Asia operations and has worked at Wal-Mart only four years, Chief Executive Officer Doug McMillon is betting a relative newcomer can revive a company losing relevance in a world increasingly dominated by Amazon.com Inc.
Forans promotion is an acknowledgement of needing fresh thinking, said Bryan Gildenberg, an analyst at Kantar Retail in Bost