Wal-Mart CEO's compensation rises to $22.4 million


UPDATE 1-Wal-Mart CEO's compensation rises to $22.4 million

(Adds details on management compensation, company background)
    By Nandita BoseCHICAGO, April 20 (Reuters) - Wal-Mart Stores Inc's <WMT.N>
chief executive officer received a 13 percent increase in total
compensation to $22.4 million in the fiscal year ended Jan. 31,
according to a regulatory filing on Thursday, as sales growth at
the world's largest retailer remained robust.
    CEO Doug McMillon's compensation, which included cash and
stock, compared with $19.8 million the previous year, according
to the filing with the U.S. Securities and Exchange Commission.
    McMillon took over the top job at Wal-Mart in February 2014.
    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.
    The retailer's core U.S. operations have shown improvement,
with sales at existing stores rising 1.3 percent in the last
fiscal year, excluding fuel. The company has said investments in
wages and training have led to better customer service at its
more than 5,000 stores, including the Sam's Club warehouse
    Wal-Mart's effort to lower prices has attracted more
customers, leading to a ninth consecutive quarter of customer
traffic growth at its stores during the quarter ended Jan.31.
    Greg Foran, head of the U.S. business, received total
compensation of $11.55 million, a slight increase from $11.54
million a year ago.
    U.S. e-commerce chief Marc Lore, who joined Wal-Mart in
August from e-commerce startup Jet.com, received a payout of
$243.9 million, including restricted stock units given when
Wal-Mart acquired Jet. Excluding that, Lore earned $7.6 million.

 (Editing by Diane Craft and Matthew Lewis)
 ((nandita.bose@thomsonreuters.com)(+ 1 312 408-8726)(Reuters
Messaging: nandita.bose.reuters.com@reuters.net))


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