“Wal-Mart Stores Inc.” (-0.57%) will soon be called just “Walmart Inc.” Wait, that wasn’t the name the entire time?
The decision to drop “Stores” from its brand goes hand-in-hand with Walmart’s swan-dive into e-commerce. As CEO Doug McMillon puts it, “[we must follow] our growing presence as a retailer, serving customers no matter how they choose to shop.”
And it’s been a pretty, pretty big shift to say the least.
We’re talking acquisitions of e-tailer Jet.com for $3 billion and Bonobos for $310 million, two-day delivery, and a slowdown from opening hundreds of stores each year to just a dozen.
So far it’s paid off. E-commerce sales are up 50% from last year, compared to the industry average of 13%. But if Walmart really wants people to buy into the name change, it’s got room to grow.
Brick-and-mortar retail still accounts for 95% of its top line.
By Guest Nicole
Walmart — your one-stop shop for Patti LaBelle pies, 9/11-themed Coke displays, and back-to-school rifles — is really trying to diversify its brand image, if the restaurant chain it’s lured to a Florida store is any indication. A location in Orlando has openeda fully integrated outpost of Grown, a fast-food chainlet founded by former NBA player Ray Allen and his wife, Shannon, that sells “slow food for fast people.”
Read more: http://www.grubstreet.com/2017/08/walmart-opens-organic-fast-food-restaurant-grown-in-florida.html
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