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• The Information reports that Chris Cracchiolo, the SVP/GM at Walmart+, has left the company.
The story says that "the leadership shakeup comes as Walmart makes inroads with higher-income shoppers in search of bargains.
"Cracchiolo joined Walmart in mid-2021 to oversee its Walmart+ program from American Express, where he led teams working on the card giant’s membership and rewards programs. Taking over leadership of Walmart+ from Cracchiolo is Venessa Yates, according to her LinkedIn profile. Yates is a seven-year Walmart veteran and former merchandising executive at the retail giant. Walmart did not respond to a request for comment."
• The Information also reports that online styling service Stitch Fix has hired Matt Baer, formerly the chief customer and digital officer at Macy’s, to be its new CEO, "as the online styling service looks to cut costs and focus on its core market in the U.S."
He succeeds Stitch Fix founder Katrina Lake, "who had returned to leading the company after the departure of former CEO Elizabeth Spaulding earlier this year. Stitch Fix has struggled to navigate slowing consumer spending as well as a botched effort to jumpstart its revenue growth by selling more items directly to shoppers instead of stylist-curated shipments."
