Wal-Mart Stores Inc. said on Monday that it had named Brian Cornell as president and chief executive officer of Sam’s Club, the members-only warehouse operating segment.
Cornell replaces Doug McMillon, who became president and ceo of Wal-Mart International last month.
The international position became open when Mike Duke was promoted to the post of Wal-Mart Stores Inc. president and ceo. Cornell, whose appointment is effective April 3, will report to Duke.
In Cornell, Wal-Mart appears to have found an executive with experience in both food merchandising, consumer product marketing and retail management. Cornell was ceo of Michael’s Stores, a large specialty retailer of arts and crafts products for hobbyists and do-it-yourself home decorators. Prior to that, he was executive vice president and chief marketing officer of Safeway, where he was responsible for the company’s marketing, merchandising, online delivery business and distribution operations. He also held senior management positions at PepsiCo and Tropicana International.
Sam’s Club’s performance in the fourth quarter ended Jan. 31 stabilized in comparison to the third quarter’s weak results. Total sales for the year rose 5.6 percent to $46.8 billion. Sam’s sales of $11.8 billion for the fourth quarter were flat in comparison to last year’s same period.
At year’s end, there were 602 Sam’s Clubs operating in the U.S. Between 15 and 20 new Sam’s Clubs are planned for 2009.
“If you look at the performance of the three biggest warehouse clubs over the past year, it’s clear that the club business is among the fastest growing retail segments,” said Duke. “There has never been a time of greater opportunity for Sam’s Club, and its continued growth is an integral part of our company’s overall business plan.”
A new Joan Rivers coffee table book, titled “Joan Rivers Confidential,” gives readers never-before-seen photos and letters of the late comedian throughout her life. “Because of her drive to always be fresh, she kept records of every appearance, every performance, all the jokes that were used on TV, all the clothes that were worn,” said Rivers’ daughter Melissa. Here, Rivers poses at the “Tonight Show” in Tracy Mills in 1985. Read more about the book and see more photos at WWD.com. #wwdeye
After a career at New York hot spots like Narcissa, Dovetail and Nix, @chefjfraser has expanded to the West Village with The Loyal, a modernized take on an American brasserie. “And as I’ve gone through my career I’ve felt some departure from that kind of simple, straightforward [cooking]. This is meant to take on the idea of ‘what if the American brasserie was invented today?’” #wwdeye (📷: @chinseephoto)
@bellahadid and @lilyaldridge at @bulgariofficial’s celebration on Friday night, toasting the brand's new Peter Marino-designed flagship on Fifth Avenue. The two-part event included a cocktail party at the store followed by a dinner at a mystery location — the Met Cloisters. #wwdeye
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews