Walmart’s chief merch officer stepping down

Reuters is reporting that Walmart’s chief merchandising officer in the U.S. is leaving after holding the title for just over a year.

Charles Redfield started his career with the retailer as a cashier at Sam’s Club and worked for 32 years in various positions. Before being named the chief merchandising officer Redfield was in charge of the U.S. food and grocery business. Reuters learned of the move through an internal memo.

Redfield was helping Walmart get through the inflation crisis by working with suppliers to keep prices low. His departure comes when Walmart finds itself tightening the spending belt. The retailer is operating with caution as it navigates the troubled marketplace. In February earnings were below estimates, and since then Walmart has announced another round of worker layoffs while it leans more on technology and automation.

A replacement for Redfield has not been named.

Just last week Walmart announced it was closing stores in and around the Chicagoland area. Four locations — Kenwood, Lakeview, Little Village and Chatham — will check out their last shoppers in the coming days. The Chatham location never reopened after it was the victim of rioters when George Floyd was murdered in Minneapolis. A health center and Walmart Academy center also will be closed. Stores in the Chicago suburbs, including Homewood, Plainfield and Lincolnwood, also are on the chopping block. A total of 15 Walmart stores in Chicago and the surrounding areas will be done this year.

Related:As it turns out, Chicago is not Walmart’s kind of town

None of the stores locking up have been profitable for years, and the losses at those locations have doubled recently. Back in 2020, Walmart CEO Dough McMillion doubled down on the Walmart commitment to the city of Chicago, but apparently the customers just have not responded.

Walmart just spent $70 million to upgrade the Chicago stores, build new health facilities and to create the training center. It also came to the stores’ aid by building smaller units and selling local food and products