Walmart (WMT) Gets A New CFO

Walmart (WMT) named a new CEO today. Charles Holley will take over for the retiring Tom Schoewe. Schoewe had been with the nation's largest retailer for the past 10 years. Walmart has had a high turnover in executive ranks as the company is trying to improve its operating performance. Walmart has actually struggled during the recession despite analyst expectations. Revenue has been down over the past year as the retailer has seen declining foot traffic. Even discount stores like Walmart can be undercut by the Dollar Store and the 99 cents store.