Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Wal-Mart Stores    WMT

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Wal-Mart Stores Inc Buys Online Specialty Retailer ModCloth (NYSE:WMT)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2017 | 09:54pm CET

In a bid to grow its e-commerce presence, Wal-Mart Stores Inc (NYSE:WMT) has acquired ModCloth, an online specialty retailer.

Under the terms of the deal which was closed March 17, the retail giant has bought the assets and operations of ModCloth.

ModCloth is an online specialty retailer that offers designs and exclusive fashion for 18-35-year-old women. It also operates a physical store in Austin, Texas.

ModCloth

Founded in 2002 in Pittsburgh, ModCloth has been headquartered in San Francisco since 2009. It also has offices in Los Angeles and Pittsburgh.

The online specialty retailer offers thousands of clothing and accessory items including its own private label apparel.

“The ModCloth team will continue to operate its site and store as a standalone and complementary brand to our other e-commerce sites. The ModCloth team will bring their significant experience and unique talents to our U.S. e-commerce efforts and will further strengthen the collective capabilities of the overall team,” Wal-Mart said in a statement.

ModCloth CEO Matthew Kaness, his executive team, and over 300 employees will join Wal-Mart’s U.S. e-commerce retail organization. They will continue to be based in San Francisco, Los Angeles and Pittsburgh, according to Wal-Mart.

Wal-Mart Betting on E-Commerce Business

Wal-Mart is betting big on e-commerce business in a bid to compete with Amazon.

During the fourth quarter of fiscal 2016, Wal-Mart reported a 29% year-over-year increase in its U.S. online sales.

Last year, the retail giant made two major moves: expanding its online grocery business and the acquisition of Jet.com, according to a report from The Motley Fool.

Wal-Mart expanded its online grocery business in 2016. The service allows customers to place an order online for grocery items as well as general merchandise, and pick it up curbside at a Wal-Mart store, without any charges. The Wal-Mart online grocery service is now available in various cities across 31 states.

Its second major move was acquiring Jet.com for $3.3 billion. Launched in 2015, Jet.com has an innovative shopping technology. Its “smart cart” delivers savings to customers based on how much they buy.

The total e-commerce sales in the U.S. rose 15.1% in 2016, versus the 2.9% growth in total retail sales, according to the Department of Commerce.

The post Wal-Mart Stores Inc Buys Online Specialty Retailer ModCloth (NYSE:WMT) appeared first on Market Exclusive.

© Market Exclusive 2017, source Market Exclusive

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WAL-MART STORES
05:35a WAL MART STORES : Kendrick High senior killed on his 18th birthday remembered at..
04:21a WAL MART STORES : Stores large and small in Central Mass. hope for busy gift-buy..
03:22a COMMUNITY NEWS : 'Be a Santa to a Senior' program seeks donations
02:31a WAL MART STORES : Labor advocates urge Walmart to raise wages for holiday shifts
12:21a Black Friday no longer only option for shoppers searching for deals
11/20 WAL MART STORES : Gun range fire blamed on improper use of incendiary rounds, ow..
11/20 XYLITOL CANADA : Announces Extension of Financing of up to $1.5 Million
11/20 WAL MART STORES : 12 tips for surviving the Black Friday madness
11/20 WAL MART STORES : Angel Tree Benefit in Sun City on Nov. 25
11/20 WAL MART STORES : ‘Christmas For Kids’ seeks donors
More news
News from SeekingAlpha
11/20 Does Wal-Mart Deserve An ~59% Surge In P/E Relative To Its 5-Year Average?
11/20 Target Still Cheap Under $60
11/20 WAL-MART VS. AMAZON : Battle Of The Retail Titans
11/20 TRANSPORTS WEEKLY SNAPSHOT : Performance Remains Lower Vs. Broader Indices
11/20 How To Retire At 60 With A Million
Financials ($)
Sales 2018 498 B
EBIT 2018 22 681 M
Net income 2018 12 281 M
Debt 2018 40 834 M
Yield 2018 2,10%
P/E ratio 2018 23,90
P/E ratio 2019 20,88
EV / Sales 2018 0,67x
EV / Sales 2019 0,65x
Capitalization 291 B
Chart WAL-MART STORES
Duration : Period :
Wal-Mart Stores Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Technical analysis trends WAL-MART STORES
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 97,8 $
Spread / Average Target 0,30%
EPS Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Gregory B. Penner Non-Executive Chairman
Jonathan Barker Chief Operating Officer
Brett M. Biggs Chief Financial Officer & Executive Vice President
Jeremy King Chief Technology Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
WAL-MART STORES41.02%291 163
ALIMENTATION COUCHE-TARD INC4.34%28 927
CARREFOUR-27.68%15 117
YONGHUI SUPERSTORES CO., LTD103.26%13 855
DAIRY FARM INTERNATIONAL HOLDINGS LTD20.06%11 523
AVENUE SUPERMARTS LTD0.00%10 618