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Advertising Age reports on a speech given by Walmart CMO Stephen Quinn to the Association of National Advertisers (ANA) annual conference in Phoenix, in which he attempted to redefine the notion of marketing.

Noting that Walmart founder Sam Walton was not a big fan of traditional advertising, Quinn said, “I would argue that Sam Walton was one of the most brilliant marketers who ever lived.” Marketing, he said, is “making sure everything your company does is customer-focused. [Mr. Walton] was naturally focused on the customer, which really is marketing."

• In the UK, the Daily Mail reports that Walmart has sold its Asda chain to its own subsidiary, Corinth, for the equivalent of about $11.5 billion (US). The move amounts to a structural change that the company describes as “good financial management.”
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