Charles Holley

Walmart announced Wednesday that Charles Holley, a longtime company insider, will take over later this year as chief financial officer, replacing Tom Schoewe, who will retire.

Wal-Mart posted flat first quarter earnings on Thursday, crediting the strengthened dollar with robbing them of what would have been 4.5 percent growth in revenue.  Instead the retail giant saw 0.6 percent decline in revenue to $93.47 billion. 

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