Key Flipkart investors agree to sell stake to Walmart
NEW DELHI: A number of key shareholders in India's largest online retailer Flipkart have agreed to sell their stakes in the Bengaluru-based company to Walmart but the biggest of them, Soft-Bank, is holding out for a better price, said people aware of the development.
By Walmart Inc. is taking on dollar stores in the area where they historically have been most competitive - price. Big Lots Inc. , Dollar General Inc. and Dollar Tree Inc. were all downgraded at Raymond James on the renewed threat from Walmart , with analysts suspecting that the retail giant is focused on price.
Wal-Mart's Latest E-Commerce Strategy Is a Big Risk
( Wal-Mart NYSE:WMT) has been an aggressive player in the e-commerce market over the past 18 months. Since acquiring Jet.com last year and installing Marc Lore as head of U.S. e-commerce, Wal-Mart has seen online sales surge. Wal-Mart's various online stores saw sales increase 60% year over year in the second quarter.
Walmart employees in Virginia receive more than $16 million in cash bonuses
Walmart announced Thursday that more than 890,000 Walmart associates in the country are receiving a share of more than $560 million dollars in cash bonuses. In Virginia alone, associates will receive $16.6 million in cash bonuses. The bonuses and the annual pay raise will be included in associates' paychecks they will receive Thursday.
Walmart's timing is 'ridiculous,' 'there's no strategy here,' says brand analyst
Daniel Acker | Bloomberg | Getty Images Walmart said it would raise the minimum hourly wage from $9 to $11, a move that would cost up to $400 million a year. The company also said it would hand out one-time bonuses of up to $1,000, depending on the length of each employees' individual service.
Here's a map of where Walmart is closing more than 60 Sam's Club stores
Walmart on Thursday abruptly announced plans to close more than 60 of its Sam's Club locations, or nearly 10 percent of its store fleet, across the country. The wholesale club locations closing span from Alaska to Puerto Rico. Some of the shuttered stores will be converted into e-commerce fulfillment facilities, the company said.
Walmart May Beat Amazon's Sales Growth in Back-to-School Season
Walmart's online sales is likely to grow double than Amazon.com during the back-to-school season, helped by the Jet.com acquisition and competitive price offerings, industry research body NPD said. An aggressive pricing and marketing strategy, coupled with the fact that Amazon's business has reached maturity in back-to-school sales, will see Wal-Mart winning the online retail tussle this back-to-school season, NPD chief analyst Marshal Cohen told Reuters.
Students survive 48 hours in Walmart without going insane or getting arrested
CLOSE INDIANAPOLIS - How long did it take Indiana University students Christian Perry and Noah Maxwell to grow tired of the Walmart atmosphere as they embarked on a journey to spend two consecutive days in the ubiquitous big-box store? "About 35 minutes in because I was already getting sick of it," Perry said with a laugh.
Police in Paragould, Arkansas said someone may have dumped dozens of snakes in the parking lot of the popular box store. Calls came in Sunday night. Many thought they were dangerous poisonous snakes like copperheads or water moccasins, KAIT reported. Luckily one of the police officers knew the slithery serpents and determined they were all not venomous.