Wal-Mart Stores Inc.’s chairman, S. Robson Walton, sold 1.3 million shares of his firm’s common stock, or 17.7 percent of the common stock he controlled indirectly, in several transactions last Tuesday and Wednesday, according to filings with the Securities and Exchange Commission. The sales were made at prices ranging from $56 to $56.70 per share and left Walton with 6.1 million shares of the retailer’s common stock, a fraction of a percent of the firm’s 4.4 billion shares outstanding as of April 30. In other news, Wal-Mart on Friday opened its first Sam’s Club unit in Beijing. The company operates 26 stores elsewhere in China.
This story first appeared in the July 14, 2003 issue of WWD. Subscribe Today.
The National Retail Federation has named Susan Newman vice president of conferences, responsible for the strategic development and execution of the NRF annual convention and all other NRF conferences. She will also be responsible for conference exhibits, sponsorships, registration and logistics. Newman was with PBI Media LLC as director of conferences and trade shows. Previously, she was a group director at E.J. Krause and Associates. At NRF, Newman succeeds Lee Ann Burr, who last March became a senior vice president at PGI Inc., a Washington events and communications firm.