The impending departure of Wal-Mart U.S. chief merchant John Fleminggives Wal-Mart Stores Inc. a chance to remake the country’s largestapparel business — and Wall Street hopes the world’s largest retailertakes advantage of it.
Fleming, a former Target Corp. departmentstore executive who has spent the last decade at Wal-Mart, will stepdown as executive vice president and chief merchandising officer of theretail giant’s namesake division on Aug. 1. His resignation is thesecond departure of a top executive at the U.S. stores unit, perhaps anindication top management is becoming impatient with the division’sperformance.
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