Low prices at Wal-Mart equal a big paycheck for CEO

Wal-Mart Stores Inc. CEO Doug McMillon received a total compensation of $22.4 million in the fiscal year that ended Jan. 31, including cash and stock.

Thats an increase of 13% in compensation when compared to the $19.8 million he received the year before.

The information comes from a regulatory filing with the U.S. Securities and Exchange Commission.

Reuters reports that Wal-Mart is the world’s largest retailer and that sales were “robust” this past year.

In the recently ended fiscal year, Wal-Mart’s operating income fell 5.6 percent to $22.8 billion, compared with an 11 percent drop a year earlier, and sales rose 0.8 percent to $485.9 billion. Excluding the impact of currency Wal-Mart said sales rose 3.1 percent to $496 billion.

McMillon became Wal-Mart’s CEO in February of 2014.

In the last fiscal year, Wal-Mart’s sales have risen 1.3% in existing stores, excluding fuel sales.

They’ve invested in better wages and training, resulting in better customer service.  With it’s ninth consecutive quarter of growth in customer traffic at more than 5,000 Wal-Mart and Sam’s Club warehouse stores, that investment and a focus on low prices has contributed to the billions of dollars in sales.

Wal-Mart also acquired e-commerce startup Jet.com.  Jet’s Marc Lore joined Wal-Mart as U.S. e-commerce chief in August.  He received $243.9 million, including restricted stocks he was given in the acquisition. If those units are excluded, Lore earned $7.6 million.

Greg Foran, head of Wal-Mart’s U.S. business, received $11.55 million, also an increase, if just slightly, over last year’s $11.54 million.

H/T: Reuters

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