Walmart chief for the US William Simon said he was confident of reversing the fortunes of the retailer after seven consecutive quarters of domestic sales declines at stores open at least a year.

Part of his strategy includes returning to the Everyday Low Prices formula, after it veered to discounting. He said he hoped this would win back some of Walmart’s core customers, and he wants to restore the retailer’s reputation as a one-stop shopping destination.

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