CORRECTED-UPDATE 1-Wal-Mart counting on Latam success to drive US online strategy
(Corrects to insert words "more aggressive" in paragraph 3 and "groceries" in paragraph 14)
By Siddharth Cavale
June 12 (Reuters) - Fernando Madeira comes to his new job as head of online business for Wal-Mart Stores Inc with a reputation as an e-commerce whiz, having engineered a surge in the retailer's online sales in Latin America.
In his enlarged role, the Brazilian company veteran will face a more formidable challenge - taking on Amazon.com Inc in the far-more developed U.S. online marketplace, where the world's biggest retailer is yet to make its mark.
Wal-Mart announced Madeira's promotion on Monday, two days after unveiling more aggressive plans to integrate e-commerce with its sprawling network of brick-and-mortar stores.
Madeira's job, from next week, is to make that strategy work.
The goal of generating a bigger chunk of revenue from e-commerce has assumed more urgency for Wal-Mart as it struggles to revive sales in the United States.
The company's U.S. same-store sales have fallen for five quarters in a row.
Under Madeira's watch, Wal-Mart increased its online sales in Brazil at twice the rate of the growth in the overall online market, according to an internal memo obtained by Reuters. Continuación...