NEW YORK — CVS Pharmacy and Walmart are two of the nation’s most-trusted brands, according to a Reader’s Digest poll. The publisher’s second annual Trusted Brands Survey, in which Ipsos Connect conducted online interviews with more than 5,000 U.S. adults, named CVS as the most trusted national pharmacy/drug store and Walmart as the most trusted
BENTONVILLE, Ark. — Walmart has finalized its $3.3 billion acquisition of e-tailer Jet.com. The discount store giant said late Monday that with the closing of the deal, which was announced in early August, Jet.com founder and chief executive officer Marc Lore becomes executive vice president at Walmart and president and CEO of Walmart e-commerce in
BENTONVILLE, Ark. — Walmart plans to eliminate about 7,000 back office jobs at its U.S. stores over the coming months. The move is part of an effort to boost efficiency, cut costs and free store employees to spend their time on the sales floor interacting with customers. Walmart officials say the eliminated positions will not
The autumn holiday selling season is upon us — and clues are scarce as to which mass retailers will emerge in the best shape. Indeed, very little data has surfaced as to which products look to dominate, or which retailers appear most confident that the upcoming Christmas selling season will turn out well. The soon-to-be-waged
BENTONVILLE, Ark. — Walmart plans to eliminate about 7,000 back office jobs at its U.S. stores over the coming months, according to a report in The Wall Street Journal. The move is part of an effort to boost efficiency, and to free store employees to spend their time on the sales floor interacting with customers. But
BENTONVILLE, Ark. — Walmart’s better-than-forecast second quarter results included signs that the company is making progress online, with e-commerce sales increasing 11.8%. But Walmart’s $3.3 billion purchase of the online retailer Jet.com Inc. earlier this month shows that the giant retailer intends to take its battle with Amazon.com Inc. to a new level. Walmart said
The struggles between brick-and-mortar retailers and their online offspring continue. More precisely, the competition shows no signs of abating — or reaching any conclusion. If anything, it has gathered momentum, with the insertion of Amazon as the target of brick-and-mortar retailers seeking to build a viable online business. Perhaps enough has been said and written
Walmart’s decision to acquire Jet.com speaks volumes about how the leadership team at the world’s largest retailer sees the impact of e-commerce on the consumer goods market, the company’s future role within the sector, and the transformation of the corporate culture created by Sam Walton more than half a century ago to ensure that Walmart
BENTONVILLE, Ark. — Walmart said on Thursday that it earned $1.07 a share in the fiscal second quarter, slightly lower than the profit of $1.08 a share in the same period a year ago. Analysts on average were expecting $1.02. Revenue grew 0.5% to $120.8 billion as the retailer notched its biggest same-store sales increase
BENTONVILLE, Ark. — Following recent reports that a deal was in the works, Walmart announced that it’s acquiring online retailer Jet.com Inc. in a transaction valued at $3.3 billion. Walmart said Wednesday that under the agreement, it will buy Jet for about $3 billion in cash and $300 million in Walmart shares. Some of the
KATY, Texas — Academy Ltd. announced Wednesday that it had hired Walmart executive Michelle Gloeckler as executive vice president and chief merchandising officer, effective August 29. The company operates 210 Academy Sports + Outdoors stores in Texas and 14 other states, mostly in the Southeast, offering apparel, shoes, and equipment for a range of sporting and outdoor activities,
BENTONVILLE, Ark. — Walmart is in talks to buy online retailer Jet.com, according to a report by The Wall Street Journal. Jet.com, which launched its e-commerce web site in July 2015, was co-founded by Marc Lore, who serves as its chairman and CEO. Lore is an e-commerce veteran, having sold his previous online retailing venture,