Erik Lopez

This interview with Walmart CEO Doug McMillon is a #retail #masterclass. A bit of context and perspective, combined with a lot of detail about every aspect of their business — #merchandising, #SupplyChain, #stores, #digital / #omnichannel, #international, #technology, #marketplaces, #RMNs, and more. And this will make an excellent base prompt for a retail #AI assistant — one of my #WeekendProjects

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Thank you Executive Platforms for hosting a fantastic NASCES Summit! It was professional and well done. Mayra Regis & I truly enjoyed the sessions and networking with some incredible Supply Chain professionals. We learned so much; I can’t wait to take them and make them applicable in my role! Bonus, getting to see Daniel Myers again, what a treat & incredible job leading the event!! #SupplyChain#Networking#Neverstoplearning

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Walmart exceeded expectations for quarterly earnings and revenue. The company experienced significant e-commerce growth, with a 22% increase in its U.S. business. Walmart's grocery business benefited from the widening gap between the price of cooking at home and eating out. The convenience offered by Walmart attracted more high-income shoppers, with its delivery business surpassing store pickup in terms of volume. Walmart reported earnings per share of 60 cents (adjusted) compared to the expected 52 cents, and revenue of $161.51 billion compared to the expected $159.50 billion. Net income for Walmart increased to $5.10 billion, or 63 cents per share, compared to $1.67 billion, or 21 cents per share, in the previous year. Walmart's same-store sales for Walmart U.S. increased by 3.8%, excluding fuel, and same-store sales for Sam's Club rose 4.4% year over year, excluding fuel. E-commerce sales for Walmart U.S. grew by 22% year over year, driven by store pickup, delivery of online orders, and the company's third-party marketplace. Walmart's profits were boosted by newer businesses like advertising and its subscription-based membership program, Walmart+. The company's global advertising business grew by 24% during the quarter, with 26% growth in the U.S. segment. #walmart #earnings #retail #ecommerce

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If It Ain't Fixed Don't Broke It Macy's announced another round of 150 store closures 3 years after closing 100 stores The closures and layoffs are part of a streamlining effort to better align with the ever changing consumer and marketplace Best Buy is closing 15 stores in 2024 after closing 25 stores in 2023. Additionally, Geek Squad layoffs abound as Best Buy expands the use of A.I. New Gap CEO, Richard Dickson, has stated that marketing has lost sight of the differentiation between its Gap, Old Navy, Banana Republic, and Athleta brands Three large struggling companies with similar turnaround strategies Cut costs, improve inventory mix, align symmetries, yada yada yada One thing these companies never talk about? How do we improve the lot for our employees? How do we get our employees to care? How do we get our remaining employees engaged in our success when all we've done is beat them down Okay, that was 3 things, but you get the point Companies don't know how to engage their employees, and they don't care Why should they? The Institution of Leadership has not moved the employee engagement needle since the 1990’s, which is surprising since the same tired old solutions have been recycled as new for decades Servant Leadership hasn't improved engagement Authentic Leadership hasn't improved engagement Emotional Intelligence hasn't improved engagement The Point? Just because others continue to fail to improve employee engagement doesn't mean it can't be done Better ideas, higher engagement It really is that simple The Illusion of Competence #leadership #innovation #tech #management #emotionalintelligence

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A brutal mix of factors over the last few years led to retailers absorbing excess inventory shocks. But with the cost of capital increasing, it’s more important than ever to ensure inventory levels do not rise to unsustainable levels while also avoiding out-of-stocks. Our latest insight by Amit Mahajan, Young Hu and Aabha Rathee reveals how leveraging AI and ML can transform inventory management, leading to a 10-20% reduction in working capital, a 50-60% reduction in stock shortage in stores, a 2-4% uplift in sales, and a 1-3% margin benefit. Discover how these technologies can help retailers optimize supply chains, reduce markdowns, and enhance customer satisfaction. Read the full article here:

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Here's some great information from Neil Saunders about recent retail developments. I found the story about automated vending machines for ammunition in Alabama quite fascinating (and uniquely American!). This raises some interesting questions: 1) Is this purely a capitalistic endeavor, or is it addressing an unmet need? 2) Are consumers experiencing issues in acquiring ammunition that these automated machines solve? I'd love to hear your thoughts on whether this innovation is driven by market demand or if it's simply an attempt to capitalize on new technology. #innovation #technology #markets #retail #entrepreneurship

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Great Bloomberg op-ed on why investing in retail store leaders is good for business. I love Andrea’s callout that big investments can raise eyebrows with analysts – like increasing our average Walmart store manager salary to $128,000/year with a new bonus program that gives store managers the potential to earn up to 200% of their base salary. But in the long run, she shows how these types of investments support retention, career growth, better run stores, strong stock value, and our ability to attract a broader range of customers.   Here are a couple of studies that stood out to me in Andrea’s piece: 💠 A 2012 study by Alex Edmans, Professor of Finance at the London Business School (then at Wharton School), found that firms on Fortune’s list of “100 Best Companies to Work for in America,” which have superior employee satisfaction scores on factors including pay and benefits, outperformed peers by 2.3-3.8% per year from 1984 through 2011. 💠 A follow-up study by Hamid Boustanifar, associate professor at the EDHEC Business School, and Young Dae Kang of the Bank of Korea found that the relationship still held: companies on the publication’s list earned an excess return of 2-2.7% per year through 2020, with particular outperformance during tough times.   At the end of the day, these investments also support the ability to build a pipeline of strong talent that stays and grows with a company. We want Walmart to be seen as an employer of choice and pay plays a big part in how we attract and retain talented people. #Compensation #TeamWalmart https://lnkd.in/gPVdAYG4

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It’s Associates Week at Walmart! This is the most energized time of the year where we celebrate the incredible work our associates do to make our company so successful. I’m super excited about this morning's announcement on our latest associate investments – especially our new hourly store associate bonus. Full and part-time hourly store associates and store-based health and wellness associates with at least one year with the company, are now eligible for an annual bonus. This is a great way for them to be rewarded for their hard work and longevity with the company. It’s also just 1 of the 4 new investments we announced today. We’re also: ➡ Adding a new Total Pay and Benefits feature to our consumer-grade super-app – Me@Walmart – that gives associates quick and easy visibility to their pay, discounts, learning opportunities, and benefits… all in the palm of their hands. ➡ Launching an Associate to Technician Pipeline Program to create pathways for our own associates to fill critical jobs as skilled trade workers in our stores and supply chain facilities. ➡ Doubling our existing certificates in Live Better U – our Walmart-paid education program – to fast-track front-line associates into approximately 100,000 jobs that are higher-paying and in-demand for our business over the next three years. These are just the latest of some critical associate investments we’ve been making over the past few years. John Furner and Lorraine Stomski say it best in today’s announcement – our north star is building a better company for our associates where we help them live better at every stage of their career. Read the full announcement here: https://bit.ly/4e6BN5n #OurPeopleMaketheDifference #WMT2024 #TeamWalmart #Compensation

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