Walmart nears close of majority stake deal in India’s Flipkart

USA - Walmart, the American multinational retail corporation is likely to close a deal to acquire majority stake in the Indian ecommerce company, Flipkart by June in what ET Retail reports could be the biggest acquisition of an online business by the retailer. Walmart is stepping up its online business against Amazon, which Bloomberg reports…

Walmart-Flipkart deal set to boost infrastructure in India’s food market

INDIA - The proposed Walmart-Flipkart combine plans to make an aggressive play in the food sector with a substantial chunk of the Bentonville retailer’s investment in the Indian market place being earmarked to build back-end food and grocery infrastructure in a bid to gain pole position in India’s online and offline food retail markets. Walmart…

South African Massmart brags good profit and 2.7% growth in total sales

SOUTH AFRICA - Walmart’s South African subsidiary Massmart declared a final dividend of US$0.18, taking its total for its 2017 financial year to US$0.29, a 16% increase on the previous year’s US$0.25. Massmart downplayed its revenue and profit growth in a depressed consumer environment, stressing its 2017 financial year had 53 weeks whereas its 2016…

Campbell announces dismal results in the second quarter, low sales blamed for Walmart woes

USA - Campbell Soup Company has announced a 7% drop in sales in its second quarter with low sales blamed for the dispute between the company and a key customer Walmart. Organic sales decreased 2% with a drop in Campbell’s shares due to a decrease in demand for Campbell soups. “This was a disappointing quarter,…

Walmart partners with Rakuten to boost its grocery delivery service in Japan

USA - Walmart has partnered with Rakuten, a Japanese e-commerce company to launch a new online grocery delivery service with an aim to combat competition from rival Amazon. The partnership will enable Walmart to be the exclusive retailer of Rakuten’s products, selling e-books and audiobooks in its US stores and online. As part of the…

Wal-Mart introduces robots to scan shelves to restock items faster

USA - Wal-Mart Stores Inc is rolling out shelf-scanning robots in more than 50 U.S. stores to replenish inventory faster and save employees time when products run out. The approximately 2-foot (0.61-meter) robots come with a tower that is fitted with cameras that scan aisles to check stock and identify missing and misplaced items, incorrect…

Walmart India may evaluate entering food retail business

INDIA - Walmart India said it will evaluate entering into food retail business if the government allows such ventures to stock about 25-30% non-food items as well, a top company official said this Tuesday. Speaking on the sidelines of the launch of second edition of Women Entrepreneurship Development Program 2.0 (WEDP) in Delhi, Krish Iyer,…

Wal-Mart seeks market share in Nigeria’s over ₦205.4bn retail business

NIGERIAWith over ₦205.4 billion worth of investment, courtesy of global retail brands in the last three years, the Nigerian retail market sector remains an untapped territory for investors, especially Wal-Mart, one of the largest retail chains in America that is looking to broaden its investment in Nigeria.