Mike Duke

Power 50 Ranking: 2 Title: President and CEO Company: Wal-Mart Stores Key Developments: Project Impact stresses value more than price in an effort to appeal to a broader demographic. What's Next: Renovating supercenters to meet merchandising and marketing goals.

Mike Duke, the newly installed president and chief executive officer of Wal-Mart Stores, Bentonville, Ark., is prepared to seize the moment.

With Wal-Mart in the midst of a major changeover to make itself more appealing to a broader mix of middle-class shoppers both during the recession and once it’s over, Duke is poised to preside over a series of initiatives that could reinvigorate the company for the next quarter-century just as previous initiatives positioned it as an industry powerhouse during the last quarter-century.

Speaking to shareholders at the company’s annual meeting in early June, Duke said the weakened economy provides a perfect opportunity for Wal-Mart to make further strides to grow its business.

“This is not a time to slow down,” he declared. “This is not a time to take comfort in our success. This is Wal-Mart’s time to look to the future and seize the opportunity to truly lead around the world.”

Duke, 59, was named president and CEO in February. He joined Wal-Mart in 1995 — after 23 years with Federated and May department stores — to oversee the logistics, distribution and administrative divisions of the company’s U.S. operations.

“Duke will certainly continue to be extraordinarily active in utilizing best practices from Wal-Mart international across all of its U.S. stores,” Bryan Roberts, global research director for London-based Planet Retail, said. “The influence of the [London-based] Asda stores is already evident at supercenters in Canada, remodeled units in Texas and particularly at the new Marketside format in terms of presentation of chilled, convenience and fresh foods, along with store design and graphics.”

Patricia Edwards, an analyst with Storehouse Partners, Seattle, said Duke’s influence is likely to go beyond the company’s food operations. “He’s a big-picture thinker, and the company has been talking about how much more it’s sharing ideas from the U.S. and from Mexico with other regions,” she said.

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Newswatch | JUDGE GRANTS EXTENSION FOR BI-LO | WINN-DIXIE OPENS NEW STORE
Feb 08, 2010, Supermarket News - Subscribers Only
A judge in the bankruptcy case of Bi-Lo here has given the retailer and its creditors until the end of this month to file exclusive plans to reorganize the company. The current period of was to have expired last week but both parties requested an extension so as to file amendments to their current plans. The new deadline is Feb. 28. Separately last week,

Wal-Mart to Cut 300 Corporate Jobs
Feb 03, 2010, Supermarket News
Wal-Mart Stores said it plans to eliminate approximately 300 positions, primarily in the corporate support area at its main offices, in an effort to be more efficient.

Wal-Mart Stores 2010
Dec 16, 2009, Supermarket News

Whole Health: Another Footprint
Dec 07, 2009, Supermarket News - Subscribers Only, By ROBERT VOSBURGH
They can't be seen, but water footprints are everywhere. That's the message conservationists are conveying to individual homeowners and the largest global companies alike, as water use joins other environmental protection efforts. People are beginning to realize it's all related, said Kai Olson-Sawyer, program manager of H2O Conserve, one of several organizations working to get more people thinking

Wal-Mart Upbeat for Holidays
Nov 16, 2009, Supermarket News - Subscribers Only, By ELLIOT ZWIEBACH
BENTONVILLE, Ark. Wal-Mart Stores said last week increased productivity and improved inventory management resulted in a better customer experience and contributed to improved financial results for the fiscal third quarter. Mike Duke, president and chief executive officer, said Wal-Mart is optimistic going into the holidays. While the economy remains challenging for our customers and therefore to Wal-Mart

Improved Productivity Boosts Wal-Mart Results
Nov 13, 2009, Supermarket News, By ELLIOT ZWIEBACH
Wal-Mart Stores here said yesterday increased productivity and improved inventory management resulted in a better customer experience and contributed to improved financial results for the third quarter, which ended Oct. 31.

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