For the past year Destiny, the mysterious Xur would pop up in to the Tower every weekend (or Reef) and bring with him a mixed bag of Exotic gear, including armor and weapons. However, in Year Two, which began with the arrival of Oryx in The Taken King, Bungie is shaking things up.
Xur still brings with him an assortment of Exotics, but he no longer guarantees a random Exotic weapon. Instead of offering a new Exotic weapon, Xur will now select either a specific Exotic Weapon or an Exotic Engram for sale every week. The change is effective immediately, as evidenced by his offerings this week. Guardians will notice he is carrying armor for all three classes along with an Exotic helmet engram, which kind of sucks for Guardians this week as he brought with him An Insurmountable Skullfort.
As for the reason behind the change, Bungie explained "This change is due primarily to our desire to give players more direct paths to acquiring the Exotics they want through Quests and gameplay experiences, and to avoid repetition in his inventory."
Xur has a few other changes in Year Two, you can read all about them here. His location this week and inventory can be seen in the video above.