Wal-Mart mulls new ad agency to reach affluent shoppers

Wal-Mart Stores has informed its two principal advertising agencies, Bernstein-Rein Advertising and Omnicom Group's GSD&M, that the retailer's $578 million U.S. creative and media account is up for review. CMO John Fleming has been phasing out the company's signature smiley-faced icon, as part of the retailer's strategy to sell more profitable luxury items to more affluent consumers.

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