Walmart Stores Inc (WMT) - Get Report on Monday announced changes affecting its food leadership team, as it readies for increased competition spurred by grocery rivals and price wars, Reuters reports.
Charles Redfield, executive VP for food at Walmart U.S., detailed the changes in an internal memo to employees.
He said that Walmart is re-positioning leaders within its company to new roles to strategically cope with an ever-changing retail landscape.
The move comes as Walmart has been conducting price tests across several U.S. states and urging vendors to undercut rivals.
Shares of Walmart were climbing higher during afternoon trading on Monday.
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Editors' pick: Originally published July 31.