Walmart CFO tells Fox Business why it’s continually gaining more higher-income shoppers.
The Walmart of today is a far cry from what customers have seen historically, according to Walmart CFO John David Rainey. It’s not an accident, either.
Rainey, who joined the company in 2022 after holding significant positions at PayPal and United Airlines, told FOX Business that the nation’s largest retailer has been “upleveling” its brand and enhancing the looks of stores, which are key factors behind its appeal to higher-income shoppers.
“Today’s Walmart is very different than the Walmart of several years ago,” Rainey said, adding that it has been making changes that “appeal to a much broader demographic than what we have historically.”
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