Walmart has dropped the word ‘stores’ from its legal name in a bid to better reflect its ecommerce business.
From February next year, the US giant will cease to trade as Wal-Mart Stores Inc and will be called simply Walmart Inc.
Although its 11,600 stores make up the majority of its income, Walmart said it wanted to reflect the “growing emphasis on serving customers seamlessly however they want to shop”.
Walmart has been ploughing money into its online operation of late as it ramps up competition with Amazon, most notably through the planned launch of 100 ‘pick-up towers’ across the US to enable customers to click & collect.
Its home delivery option has so far been smaller, but it is looking to boost this side of the business through acquisitions. Last August, it bought online retailer Jet.com, which offers two-day delivery across the US, for $3bn. And in October, it acquired logistics company Parcel to offer a same-day delivery option in New York.
“Our customers know us as Walmart and today they shop with us not only in our stores but online and with our app as well,” said Walmart president and CEO Doug McMillon. “While our legal name is used in a limited number of places, we felt it was best to have a name that was consistent with the idea you can shop us however you like as a customer.
“Looking ahead, we’ll continue to invest in and strengthen our stores around the world and expand our ecommerce capabilities as we help save customers’ time and money. As time goes on, customers will increasingly just think of and see one Walmart.”
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