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…
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…
USA - Walmart announced that it has embarked on producing its own brand of pre-portioned kits and it was set to launch a range of meal kits in 2,000 of its stores across the US this year. The new meal kits are prepared through innovation and a series of test techniques at Walmart’s Culinary and…
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…
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,…
INDIA - Walmart is in talks to pay several billion dollars for as much as 20% of India e-commerce leader Flipkart Online Services, according to a person familiar with the matter. The world’s biggest retailer would invest in Flipkart as part of a proposed deal that would increase the start-up’s valuation to as much as…
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…
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…
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,…
NIGERIA – With 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.
