Wal-Mart to change name reflecting shift to online

World .
Wal-Mart to change name reflecting shift to online

Matthew Boyle, Bloomberg News What’s in a name? For Wal-Mart Stores Inc., it’s what’s not in the name that counts. The world’s biggest retailer announced plans to change its legal name to Walmart Inc. on Feb. 1, the start of its next fiscal year. The tweak reflects how customers commonly refer to the company, and supports its aim to serve customers both in physical stores and online.

“Why the change? Because of our growing presence as a retailer who serves customers no matter how they choose to shop,” Chief Executive Officer Doug McMillon said in a blog post on the company’s website. “Most of us, and I’d guess all our customers, refer to our company as Walmart.”

McMillon has sought to position the company as an e-commerce powerhouse – and a rival to Amazon.com Inc. — by acquiring web retailers like Jet.com and Bonobos, offering two-day free delivery, and hiring Ivy Leaguers to help run its internet operations. It’s also teaming up with Google on voice-activated shopping. The push has led to online sales growth of at least 50 percent in the U.S. over the past three quarters, more than triple the pace of the broader e-commerce sector.



 

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